Let’s be honest, United States Tax Code can get complicated quickly. When talking about federal (or state) tax credits, solar rebates, and local incentives, the message can get lost easily. So instead, let’s focus on just one component first: the Federal Investment Tax Credit (ITC).
If you do not have taxable income, the Federal ITC will not apply to you, and you will definitely have to pay more for the total cost of your system. I want to encourage everyone that feasibly can to go solar, but also make sure our customers are able to make informed financial decisions for their families.
For homeowners with taxable income, you can apply for the Federal ITC the same year you have installed the system (it gets slightly complicated during the end of the year, so please reach out if you have a December/January solar installations and have any questions).
We’re happy to walk you through it in greater detail, or feel free to check out the Forbes article below which outlines the recent updates to the Federal ITC and how it applies to you: