2019 is coming to an end in a few short months. Have you been contemplating going solar? Now is the best time. Why? Because you can get a 30% rebate thanks to ITC – Solar Investment Tax Credit.
The ITC will be dropping from 30% to 26% in 2020. In order to take advantage of maximum savings, you will want to go solar before the end of the year.
Let’s answer some of our most common questions:
What exactly is ITC?
ITC, Investment Tax Credit, allows you to deduct a percentage of the cost of installing a solar energy system from your federal taxes.
What is the average savings?
The average solar install saves around $9,000 by using ITC. (1)
Is this for Residential and Commercial?
Yes, the ITC can be applied to both residential and commercial.
How much money can you get from rebates from the solar ITC?
There is no cap. The average savings is around $9,000. (1)
How much can I deduct?
This year, you can deduct 30% of your solar install cost from your federal taxes.
Will ITC decrease? (2)
Yes:
2019 – 30% (residential & commercial)
2020 – 26% (residential & commercial)
2021 – 21% (residential & commercial)
2022+ 0% residential | 10% commercial (2)
GO SOLAR and write it off of your taxes by the end of the year. Want to learn more? Contact us today at info@plugpv.com
