The 30% Federal Solar Tax Credit will be gone by 2020 – Don’t wait and loose thousands of dollars! The future for commercial solar will be WITHOUT Federal tax credits sooner than you expect. Taking advantage of a 30% tax credit now makes a wise and powerful investment in the future of your business and energy independence!
Solar Energy Industries Association (SEIA) ITC Tax Credit Information.
Legislation extending the Solar Investment Tax Credit (ITC) was signed into law on December 18th, 2015. The bill extends the 30% Solar Investment Tax Credits for both residential and commercial projects through the end of 2019, and then drops the credit to 26% in 2020, and drops again to 22% in 2021 before dropping permanently to 10% for commercial projects and 0% for residential projects. In addition, the bill included language allowing owners who commence construction on their projects before the end of 2021 to claim the larger credit once their project is placed in service, as long as that project is placed in service before the end of 2023.
The residential and commercial solar ITC has helped annual solar installation grow by over 1,600% since implemented in 2006 – a compound annual growth rate of 76% . . . How will the future of the ITC affect you?
Commercial business should take advantage of the 30% ITC now! Before the rate drops in 2020 to 26%.
- The ITC will spur an estimated $132 billion in additional investment in the U.S. economy between 2016 and 2020, toughly $40 billion more than would have been invested without the ITC extension.
- By 2020, the U.S. solar industry is estimated to be adding more than $30 billion annually into the U.S. economy.
- The Solar Investment Tax Credit (ITC) of 30% will be in place until 2020 when it drops to 26%.
- The difference between 30% and 26% ITC can be many thousands of dollars and planning your move into solar PV and energy independence now is crucial to maximize the potential savings.
- Buying solar now for your commercial property can position you to have achieved full payback from savings by the time the ITC drops to 10% in 2022 – just 5 short years away!
How much can solar save your commercial business? Don’t guess – call Revsolar!