Tag Archives: solar tax credit

solar panels for home

Residential solar panels: what to know about solar panels for your home

31 Replies
Reading Time: 5 minutes

The past decade has engendered the era of solar panels for home use. Homes and businesses across the country are transitioning away from a fossil-fueled electricity grid towards a clean energy economy, necessitated by emissions reduction targets in a time of global climate change. Amidst this period of energy reform, rooftop solar panel systems for houses are taking off at a remarkable rate. It’s time to give residential solar the credit it deserves. Learn everything there is to know about the booming residential solar industry in our list of home solar FAQs.

Continue reading →
form 5695 instructions solar tax credit

How do I claim the solar tax credit (ITC)? Form 5695 instructions

265 Replies
Reading Time: 5 minutes

If you’re considering solar, you’ve probably heard about the federal solar tax credit, also known as the Investment Tax Credit (ITC). The Federal ITC makes solar more affordable for homeowners and businesses by granting a dollar-for-dollar tax deduction equal to 26% of the total cost of a solar energy system.

Continue reading →
macrs

What is MACRS? All you need to know for your commercial solar installation

Leave a reply
Reading Time: 3 minutes

If you’re a homeowner looking to go solar, the incentives you have available to you are pretty straightforward: from net metering to the federal investment tax credit, and to any local utility or government rebates and incentives. Between the incentives and the declining cost of solar, the average homeowner on EnergySage sees a payback period for solar of eight years. Easy! 

If, on the other hand, you’re a business owner considering solar, there are additional tax incentives that help decrease the time it takes for your solar investment to payoff. The most widely-known of them is the Modified Accelerated Cost Recovery System, also known as MACRS.

Continue reading →
congress extends the solar tax credit itc

Solar tax credit – everything you need to know about the federal ITC for 2020

180 Replies
Reading Time: 4 minutes

Homeowners, solar companies, and industry advocates alike were given a big Christmas gift in 2015 when Congress approved the 2016 federal spending bill and extended the solar panel tax credit. The December 18 bill contained a 5-year solar tax credit extension, which makes solar energy more affordable for all Americans. Wondering how this impacts you? EnergySage has the answers.

Continue reading →
commence construction 2020 clause

An overview of the “commence construction” clause

1 Reply
Reading Time: 4 minutes

The country’s best solar incentive, the federal investment tax credit (ITC), is in the process of winding down. 2019 was the last year you can claim the full 30 percent tax credit. Starting in 2020, the credit drops to 26 percent, to 22 percent in 2021, and disappears entirely for homeowners in 2022. This impending deadline has prospective solar shoppers rushing to take advantage of the maximum credit while they still can – but how can you make sure you’re eligible for the current 26 percent credit? 

Continue reading →
new york state solar tax credit energysage

New York State’s Solar Tax Credit : 25% savings on your solar energy costs

12 Replies
Reading Time: 3 minutes

There are a number of generous incentives for solar power in New York State, and NY’s Solar Equipment Tax Credit is one of them. The Solar Tax Credit plays a major role in making solar energy installation in New York state a bright idea. But who qualifies to claim it and how much is it?

Continue reading →
Massachusetts solar incentives with energysage

Are Massachusetts’ solar incentives the best in the country?

Leave a reply
Reading Time: 3 minutes

When you think of Massachusetts, you may think of the historical city of Boston, its championship sports teams, or distinctive pronunciation of the letter “R”. Now, it’s time to add a new association to the list because Massachusetts solar incentives and programs are now considered some of the best in the country. In this article, we break down these incentives and explain why solar panels are such a great investment in Massachusetts in 2018.

Continue reading →
2017 tax bill solar

How will the 2017 tax bill impact solar?

1 Reply
Reading Time: 3 minutes

 The tax bill that Congress passed at the end of 2017 is now officially in effect, and there are changes that impact many industries across the country. Early versions of the bill contained provisions that had the potential to harm renewable energy industries. Luckily, the financial incentives that reduce the cost of installing solar are intact. Below are some of our top takeaways from the recent tax bill.

Continue reading →
property tax exemptions solar

Solar property tax exemptions: are they available where you live?

9 Replies
Reading Time: 3 minutes

Aside from the Solar Investment Tax Credit (ITC) provided by the federal government, which covers 30 percent of your solar project’s cost in the form of income tax credits, many states offer their own tax incentives to help you go solar. One popular incentive is a solar property tax exemption. Read on to learn how they work, and which states have these policies in place.

Continue reading →