While most of us were looking to see if congress was going to fund the Federal Government and add covid relief before the end of this session, few were expecting that they would add an extension to the Federal Investment Tax Credit. But they did.

We now have a 26% tax credit until the end of 2022!! 

From our FAQ’s

What is the solar Investment Tax Credit (ITC)?

The federal residential solar energy credit is a tax credit that can be claimed on federal income taxes for a percentage of the cost of a solar photovoltaic (PV) system. The solar system must be installed before December 31, 2022, to claim a 26% credit. 

The 2020 extension has the credit decreasing to 22% for systems installed in 2023 and then to 10% for large scale projects and zero for small solar projects for 2024 and beyond. There is no maximum amount that can be claimed.  

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Updated December 22nd 2020