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Federal Tax Credit

Both homeowners and commercial operations will receive a federal tax credit for 30% of the total system cost.

This tax credit can help you take a significant amount off the cost of your system. A tax credit reduces the amount of your tax liability, unlike a tax deduction, which reduces the amount of your taxable income.

  • For example, if you owe $3,000 in taxes and you have a tax credit of $1000, then you would only owe $2000. If you owe $500 in taxes and you have a tax credit of $1000, then the $500 would be paid and the additional $500 would roll over to the following year.
  • As of 2015, the federal tax credit will be available through 2020. Only homeowners and business owners who pay taxes are eligible for a tax credit.

 

Don’t worry, Sunlight Solar will provide you with instructions regarding how to claim this tax credit.