Solar Energy Federal Tax Credits 2022 #
Thanks to a two-year delay of the ITC phasedown in 2020, qualified homeowners and commercial property owners can get a dollar-for-dollar tax deduction for up to 26% of the cost of installing a new solar power system if construction begins by December 31, 2022.
Any construction that begins in 2023, will only receive a dollar-for-dollar deduction up to 22%. Construction that starts in 2024 will not receive any dollar-for-dollar federal tax incentives. Now is the time to get the most benefits for your solar investment.
For Commercial Property Owners: If your organization decides that zero-down leasing a solar energy system is the best option, there are still ways to take advantage of the Solar Energy Federal Tax Credits 2022 through reduced cost within the structure of the lease. There can be other tax benefits such as 5-year accelerated depreciation of system cost and State tax incentives.
