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Federal Tax Credit Incentives
Governments offer commercial solar incentives to promote the adoption of energy-efficient systems. These systems qualify for a 26% Federal tax credit, accelerated depreciation, and can also benefit from state-specific incentives and rebates as well.
The Federal solar Investment Tax Credit (ITC) is an important policy that supports the growth of solar energy in the United States. The ITC is a 26 percent tax credit for solar systems on commercial properties that can be applied to both customer-sited commercial solar systems and large-scale utility solar farms.
The Modified Accelerated Cost Recovery System (MACRS) is a method of depreciation that lets businesses recover investments in certain tangible property for tax purposes through annual deductions over five years.
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Frequently Asked Questions
What federal incentives are available?
Federal Investment Tax Credit (ITC)
The ITC is a 26 percent tax credit for solar systems on residential (under Section 25D) and commercial (under Section 48) properties. The Section 48 commercial credit can be applied to both customer-sited commercial solar systems and large-scale utility solar farms.
5-Year Accelerated Depreciation (MACRS)
The Modified Accelerated Cost Recovery System (MACRS), established in 1986, is a method of depreciation in which a business’ investments in certain tangible property are recovered, for tax purposes, over a specified time period through annual deductions.
Are there state-level incentives available?
The Database of State Incentives for Renewables & Efficiency (DSIRE) has a comprehensive list of solar incentives by state.
Are cash rebates available?
While some utilities or cities may offer upfront rebates, this practice is becoming increasingly rare as the cost of solar has decreased and lawmakers are aware of solar’s excellent return on investment without the need for such rebates.
Are rebates/incentives guaranteed?
Unfortunately, not. However, as demonstrated by the turnaround of the expected phase down of the federal ITC, that can cut both ways. Overall, the momentum toward renewable energy is strong and we expect lawmakers and utilities to continue to encourage investment with incentives.
Speak to an NRSC expert today to learn more about incentives when you choose solar!
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