Now is as good a time as ever to take advantage of NC solar electricity, solar hot water, or any of the other residential solar energy services from NC Solar Now — read on to learn more about the valuable solar energy rebates and tax incentives your family could enjoy!
Federal Solar Energy Tax Incentives for Homeowners
The federal solar tax credit, also known as the investment tax credit (ITC), allows you to deduct 30 percent of the cost of installing a solar energy system from your federal taxes. The ITC applies to both residential and commercial systems, and there is no cap on its value.
Thanks to the spending bill that Congress passed in late December 2015, the tax credit is now available to homeowners in some form through 2021. Here are the specifics:
- 2016 – 2019: The tax credit remains at 30 percent of the cost of the system. This means that in 2017, you can still get a major discounted price for your solar panel system.
- 2020: Owners of new residential and commercial solar can deduct 26 percent of the cost of the system from their taxes.
- 2021: Owners of new residential and commercial solar can deduct 22 percent of the cost of the system from their taxes.
- 2022 onwards: Owners of new commercial solar energy systems can deduct 10 percent of the cost of the system from their taxes. There is no federal credit for residential solar energy systems.
Don’t hesitate — get in touch with NC Solar Now to learn more about possible energy savings for your home in the Raleigh area and beyond. Call 919-833-9096 today to learn how you can take advantage of these solar energy tax incentives and rebates for your home.
NC Solar Now proudly serves clients in Apex, Cary, Holly Springs, Morrisville, Chapel Hill, Wilmington, Morehead City, Garner, Wake Forest, Greensboro, Winston-Salem, Burlington, High Point, Durham, Raleigh, and beyond.