Thinking about finally making the transition to solar energy? Here in sunny California, solar energy systems are an incredible way to reduce your carbon footprint, save money on energy costs, reduce your dependence on the grid, and increase your property value.
As a trusted solar energy company, we often get asked “Is there a California tax credit for solar?” The answer is yes! Home and business owners alike can take advantage of California’s 2022 solar tax credits!
In an effort to grow the solar industry and increase sustainability, the Federal Solar Investment Tax Credit (ITC) was enacted in 2006. Over the years, this tax credit has created hundreds of thousands of jobs and made installing solar panels affordable for both home and commercial property owners. Congress passed a 2-year delay of the phasedown of the credit, which was originally set to take place in 2020. Now, home and business owners have all of 2022 to take advantage of the 26% tax credit!
Below is a breakdown of the ITC schedule over the next couple of years:
The ITC allows you to deduct up to 26% of the cost of your solar energy system from your federal taxes. This solar panel tax credit can then be used towards the money you owe in federal taxes.
In addition to the ITC, there are a number of incentives for California residents and business owners to take advantage of.
Below are different solar incentives to check out:
The time to install a solar energy system is now. Take advantage of the ITC before it drops down in 2023 by reaching out to the solar experts at Mega Power. We proudly provide state-of-the-art solar energy equipment and best-in-class service to make sure your sustainability journey is as smooth and rewarding as possible. Our team serves both residential and commercial properties of all sizes, so no job is too big or too small for us to take on.
Our solar energy services include:
Want to learn more about the California solar tax credit? Call Mega Power to schedule a consultation.