Solar Investment Tax Credit (ITC)

The Solar Investment Tax Credit (ITC) is a financial incentive that reduces the upfront cost of installing solar energy systems. It allows homeowners and businesses to deduct a percentage of their solar installation expenses from their federal taxes. For example, if the ITC is 26%, and your solar system costs $20,000, you could potentially get a $5,200 tax credit. This incentive encourages more people to adopt solar power, helping lower energy bills and reduce carbon emissions. The ITC has been a key driver in making solar energy more affordable and accessible.