Investment Tax Credit

The Investment Tax Credit (ITC) is a government incentive that allows businesses and individuals to deduct a percentage of the cost of certain investments, like renewable energy systems, from their federal tax liability. This means that if you invest in eligible projects—like solar panels—you can reduce your taxes by that percentage, effectively lowering the overall cost of the investment. The aim is to encourage the adoption of clean energy and stimulate economic growth by making these investments more financially attractive.