Solar Tax Credits

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Commercial Benefits

Residential Benefits

  Federal Tax Credit

State Tax Credit

What is a Solar Tax Credit?

When you get solar panels you are eligible to claim them on your taxes. The tax credits change every year. Some states have a state tax credit as well along with other incentives to switch to renewable energy.

  Business Benefits when getting solar

  • Financial Savings
  • Business Solar Tax Credit
  • Future Longevity
  • Energy Independence
  • Financial & Environmental Return

Residential Benefits when getting solar

  • Safer
  • Return on Investment
  • Low Maintenance
  • Live Grid Free
  • Tax Credit, Grants, Rebate Programs

Solar Tax Credit

Federal Solar Tax Credit

The federal investment tac credit also known as ITC for 2021 provides a 26% tax credit on your installation costs with a stipulation that your taxable income is greater than the credit itself. Essentially this means a 26% discount on your home solar system. 

Colorado Solar Tax Credit

Unfortunately, Colorado no longer offers state tax credits for a solar energy system. With you may still qualify for an incentive or cash rebate. This depends on the location you live in so the best way to get a complete answer is to call and talk to an expert. A huge benefit depending on where you live is being exempt from related sales and use taxes. For example, you could save on solar modules. inverters, racking, wiring and more. The best advantage is when getting solar installed for your home it will increase the property value without affecting your property taxes.

Business Incentives for Renewable Energy

The federal solar investment tax credit for 2022 is 26% but will drop to 21% in 2023 and in 2024 will be permanently at 10% so now is the time to act. A solar system nust be placed before Dec 31 2021 to claim the credit in 2022.

How to Apply

  • Property tax exemption for residential
  • Sales and use tax exemption for renewable energy equipment
  • Local utility cash incentives
  • Xcel Energy solar renewable energy credit