As you may have read in the news, the full Solar Investment Tax Credit (ITC) was not extended and will begin to wind down starting this year. The good news is that if you’re considering making the switch to this clean, reliable energy source, you can still save big with the solar ITC!
The ITC will begin to wind down from 30% in 2019, to 26% in 2020. The credit will continue to decrease in 2021 to 22%, and then finally in 2022 will be 10% for businesses solely. Construction on solar systems must begin prior to the beginning of the new year in order to receive the previous year’s tax credit rate (i.e. if construction begins prior to January 1st, 2021, the 26% tax credit will be applicable).
Although it’s unfortunate that this clean energy incentive is phasing down, a 26% tax credit is still a great benefit for those who go solar! To learn more about how to claim the credit, click here. It’s important to remember that construction on your solar energy system must begin by the end of this year to receive the 26% tax credit. To learn more about what to expect once you begin the installation process, check out this blog.
The federal solar ITC is not the only way Arizonans can save when they go solar. Check out this blog to learn more about various other credits, exemptions, and more in our sunny state.
We want as many Arizonans as possible to take advantage of the 26% ITC before it steps down after this year. When you’re ready to go solar, you need an efficient and ethical company you can rely on. SunHarvest Solar is a top local company with an A+ rating with the BBB helping home and business owners go solar in Arizona. Our team is passionate about clean energy and dedicated to serving all of your renewable energy needs. We have the highest quality products and service, always at an affordable price. To get started, get in touch today.