Solar Investment Tax Credit (ITC)
The ITC is one of the most important federal policy’s to the solar power industry. The ITC continues to drive growth in the industry and job creation across the country.
What is the Solar Investment Tax Credit?
The ITC is simply a Federal Government 30% personal tax credit, with any excess credits being carried over in to the next year until the end of the program. The ITC will run until 12/31/2016. Eligible Technology’s are Solar Water Heat, Photovoltaics (solar power), Wind, Fuel Cells, Geothermal Heat Pumps, Other Solar-Electric Technologies, fuel Cells using Renewable Fuels.
You must be a US taxpayer to claim the 30% credit and the system must be for a dwelling in the US and owned by and used by the taxpayer. You can claim 30% of the total cost so if you purchase one of our solar power kits your 30% credit will be on the total cost including installation. The credit will be available once the system is completed and commissioned, if you are building a new residence the credit will be applied after the date of occupancy by the homeowner. There is no maximum credit and the system does not have to be installed on the taxpayer’s principal residence.
Further incentives may be available to you through your state or county. Contact one of our consultants today to discuss or visit: http://dsireusa.org/
Returns on Solar $$$
Solar systems are great value for homeowners and business as they are amongst the most profitable investments you can make.
Solar system prices have fallen steadily over the last few years and with the sharp increases in power prices in recent years the return on investment from solar systems in has increased substantially.
For customers with an un-shaded solar system it is likely now that the return will be around 10% per annum. This far outperforms the average returns on the share market and is about 4 times better than the return you get from money in the bank.