Tax Credit Decreases Soon
26% Federal Tax Credit is Stepping Down to 22% in 2021
To qualify for 26% this year, a solar array must be completed and generating before the end of the year. And, while that may seem like a long ways away, it’s really right around the corner. With permitting, interconnection agreements, inspections, and the current installations already in the pipeline, it takes at least 8 weeks to go from signed contract to a system that is producing power, many times longer.
- To qualify for the 26% tax credit, a new system must be inspected and running before the year end. So, if this is your year to transition to solar power, you need to act now and request a quote today.
- If you are a business you can ‘safe harbor’ your 26% ITC tax credit by incurring 5% of project costs in 2020. Ask us for more details.