The Solar Investment Tax Credit (ITC) allows homeowners to install qualifying solar energy systems on their homes or businesses and claim a tax credit.
The residential ITC will be 26% in 2021 and 2022. It will drop to 22% in 2023 and then disappear in 2024 unless Congress acts to change this.
A tax credit is superior to a deduction as it directly reduces your tax payment (rather than lowering your adjusted gross income)
For more information about Residential Solar, achieving clean energy goals, as well as exploring The Solar Vision: a 100-day Agenda, visit the Solar Energy Industry Association’s website: https://www.seia.org/initiatives/solar-investment-tax-credit-itc
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