If you install solar panels before the end of 2020, you will receive a tax credit that is equal to 26 percent of the cost of your solar installation.
When you install a solar system, 26% of your total project costs (including equipment, permitting and installation) can be claimed as a credit on your federal tax return. The federal solar tax credit, also known as the Solar Investment Tax Credit, or ITC, is the single most successful and important solar incentive available in the United States. The solar tax credit expires in 2022. The federal solar tax credit, also known as the Solar Investment Tax Credit, or ITC, is the single most important solar incentive available in the United States. For businesses installing commercial solar projects, the rebate is calculated on the gross installed cost of the solar system; i.e., before deducting for any local or utility rebates.

Federal Solar Tax Credit: A Brief Overview. If you spend $10,000 on your system, you owe $2,600 less in taxes the following year. Information about Form 3468, Investment Credit, including recent updates, related forms and instructions on how to file.

The ITC applies to both residential and commercial solar power systems, and there is no cap on its value. The ITC is a 26 percent tax credit for solar systems on residential (under Section 25D) and commercial (under Section 48) properties.
These two guides–one for homeowners and one on the commercial ITC–provide a concise, yet thorough, overview of the ITC, demystifying the tax code with intuitive explanations and examples, answering frequently asked questions, and explaining the process of claiming the ITC. One of the best incentives that comes along with a solar energy system is the solar Investment Tax Credit (ITC), which allows individuals who purchase a solar system to deduct 30 percent of the cost of the system from their federal taxes. So, using the same example: 26% x $15,000 = $3,900 solar tax credit that your business can use toward federal income taxes. The 30% federal investment tax credit (ITC) is among the most important incentives currently available for solar PV. The Section 48 commercial credit can be applied to both customer-sited commercial solar systems and large-scale utility solar farms.

The ITC applies to both residential and commercial systems, and there is no cap on its value. The ITC is a direct tax credit based on the cost to install a solar system, awarded to the system owner in the year after installation. The federal solar tax credit, also known as the investment tax credit (ITC), allows you to deduct 26 percent of the cost of installing a solar energy system from your federal taxes. Use this form to claim the investment credit.


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