The trade flap roiling the solar industry — Federal Tax credits for Solar being Phased Out
Posted: April 2, 2018
https://www.youtube.com/watch?v=XH-eOUNIMGs What does the federal solar tax credit extension mean for the solar industry? The federal ITC was originally established by the Energy Policy Act of 2005 and was set to expire at the end of 2007. A series of extensions pushed the expiration date back to the end of 2016, but experts believed that an additional five-year extension would bring the solar industry to its full maturity. Thanks to the spending bill that Congress passed in late December 2015, the tax credit is now available to homeowners in some form through 2021. Here are the specifics of the extensions: 2016 – 2019: The tax credit remains at 30 percent of the cost of the system. This means that in 2017, you can still get a major discounted price for your solar panel system. 2020: Owners of new residential and commercial solar can deduct 26% of the cost of the system from their taxes. 2021: Owners of of residential/commercial systems can deduct 22% of the cost of the system from