SolarTech Breaks Down The Federal Solar Tax Credit Before The Step Down In 2020, Renewable Energy Tax Credits Explained

  • Feb 12, 2019
  • PR Newswire

To get the best tax credit in 2019, visit the full 2019 Guide to Solar Tax Credit and Incentives for more information.

2019 is a very important year pertaining to residential energy incentives. In 2018, SolarTech installed five megawatts of residential and commercial energy. SolarTech anticipates installing eight to ten megawatts in 2019.

As you can see from the example in the video, getting a solar energy system installed in 2019 grants the maximum 30% solar tax credit before stepping down to 26% in 2020. The federal government will be offering:

This tax credit allows up to 30% of the total cost of the system in 2019. The credit can be used all at once or you can utilize the credit over multiple years. For example, if your solar panel system costs $18,000, a 30% tax credit would be $5,400. If you owe $4,000 in taxes for 2019, your tax bill will be reduced to zero, with a remaining $1,400 tax credit for your 2020 and future returns.

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