714.505.9000 cpas@hmwccpa.com

Important information if you’re considering solar for your home or business

Solar Tax Credit ScheduleThe Solar Investment Tax Credit, or ITC, is available for solar panel systems on both residential and commercial properties. ITC is an incentive that grants a credit worth 30% of the qualified costs associated with the installation of a PV solar systems. This credit is applied to federal taxes owed, and there is no limit to the amount of the credit.

As a reminder – after this year, the tax credit drops to 26% for projects that begin construction in 2020 and 22% for projects that begin in 2021.

So if you’ve been thinking of ‘going solar’ now’s the time!

Feel free to contact our office 714.505.9000 with any questions.

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For additional tax tips click here.

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