The U.S Solar Investment Tax Credit (ITC), is a policy to incentivize clean energy projects. It was enacted in 2006 and as of 2021, the ITC is a 26% tax credit that can be claimed for residential and commercial solar projects. According to the Solar Energy Industries Association (SEIA), the ITC has helped the U.S solar industry grow at an annual average of 52%.
Solar PV System technology has been around since the 1950’s, but there is no better time to adopt solar for commercial and residential properties than now. And here are the top 5 reasons why. 1. The Tax Credit is Decreasing From 26% To 22%.
The Federal Solar Tax Credit Decrease is Right Around the Corner. We are now two months away from the Federal Solar Tax Credit decrease deadline — from 26% to 22%. If your company is looking to decrease monthly utility expenses through the installation of a Solar PV System, you have a short window to consider the investment before one of the biggest incentives from the Federal Government decreases.
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