Residential Energy Efficiency Property Credit:

Receive up to a 30% Tax Rebate

To maximize your solar tax rebate take action now. The Solar Energy Tax Credit was extended for maximum refunds for one more year.

Connect with contractors today to receive free quotes on what solar could do for you and your home. Your contractor will help you prepare for the project, design the project and save you money.

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A recent report by the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) recommended that consumers compare as many solar options as possible. Homeowners who get 3 or more quotes can expect to save $5,000 to $10,000 on their solar panel installation.

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About the Energy Policy Act

The federal ITC was originally established by the Energy Policy Act of 2005 and was set to expire at the end of 2007. A series of extensions pushed the expiration date back to the end of 2016, but experts believed that an additional five-year extension would bring the solar industry to its full maturity. 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:

 

30 Percent

2016 – 2019

The tax credit remains at 30 percent of the cost of the system. This means that in 2018, you can still get a major discounted price for you solar panel system.

26 Percent

2020

Owners of new residential and commercial solar can deduct 26 percent of the cost of the system from their taxes.

22 Percent

2021

Owners of new residential and commercial solar can deduct 22 percent of the cost of the system from their taxes.

10 Percent

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.