Take Advantage of Tax Credits
Federal, State and Local Incentives for Solar
Financing available with multiple lenders
We have several options for financing solar panel installation
Tax credits offset the cost of a solar panel system
State and Federal tax credit programs make solar Installation more affordable
Federal
The federal residential solar energy credit can be claimed on federal income taxes for a percentage of the cost of a solar installation on your home.
With the tax credit you get a dollar-for-dollar reduction in the amount of money you owe in federal taxes. For example, claiming a $1,000 federal tax credit reduces your federal income taxes by $1,000. Currently, home owners that install solar panel systems will receive 26% tax credit for systems installed through the year 2022. In 2023 that percentage will drop to 22% and is set to expire in 2024.
State and Local Incentives
Depending on the state in which you live, you can save a significant amount of money on the installation of a solar power system. For example, some states can offer a 25% state tax credit on solar installations. This means that homeowners, in that state, could receive up to a 51% credit on the cost of their solar panel system when you combine both state and federal incentives.