Energy Innovation: Tax Credits

Energy Innovations

One of the most important and talked about segments covered in Energy Innovation has been Tax Credits.  There are TWO tax credits for a solar system, those are State and the Federal tax incentives.

Some of the confusion comes from the fact that the State has had the possibility to be revised every year and sometimes a rumor gets out that it may change which confuses homeowners. But, the good news is that our state sees the importance of renewable energy goals and solar in our economy, so for the past 10 years or so, the state tax credit has maintained the same and will for this year.

The Federal policy is that the Federal Tax credit is going to step down starting at the end of this year. Going from 30% in 2019, 26% in 2020, 22% in 2021 and then it goes away for residential customers in 2022, but remains 10% for commercial permanently.

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