Before we proceed on discussing how Federal Tax Credit is going down, let me tell you a bit about the History of Federal Tax Credit.
Solar Investment Tax Credit (ITC) is one of the most important federal policy implemented to support solar energy industry in the United States. This creating a massive 10,000% increase from the day it was enacted in 2006. In 2015, SEIA (Solar Energy Industry Association) successfully advocated for a multi-year extension of the credit, providing critical stability for the businesses and investors for solar power.
How much is the credit we’re talking about? How does it work?
- ITC is a 26% credit for solar systems on residential and commercial properties. Aside from low electric bill, this is an additional benefit if you switch to solar!
So how is Federal Tax Credit is going down?
- Congress passed a multi-year extension of the ITC in 2015, but start decreasing after 2019. Below is the timeline of Federal Tax Credit:
What does it mean to you?
- Time is important, but you can still able to enjoy 26% ITC if you switch to solar today! Here in Credence, we make your switching as smooth as possible! Contact us today so we can switch you to solar, and enjoy the 26% ITC!