What is the Solar Tax Credit in 2022 & 2023?

While there are many benefits to adding solar panels to your home, farm, or business, no benefit is greater than the money you save in the long run. Powering your building on solar energy can significantly reduce your monthly energy bills.

However, there is another way to increase your savings when installing solar panels. There are federal and local tax incentive programs that Tick Tock Energy customers can take advantage of to maximize their ROI. These programs are referred to as Solar Tax Credits.

What are Solar Tax Incentives?

Solar tax incentives are a valuable tool that can help encourage US citizens to install solar panels by offering a tax break the year of installation. There are federal, state, and local tax incentive programs, so it is important to take advantage of as many as you can to truly increase your investment.

Federal Solar Tax Incentives

In 2006, Congress enacted the solar Investment Tax Credit (ITC). Since then, the solar industry has grown a tremendous amount as more and more homes, farms, and businesses invest in solar panels for their properties.

What is the Federal Solar Tax Credit in 2022?

The federal solar tax credit is 26% for eligible solar panel systems installed in 2022.

What is the Federal Solar Tax Credit in 2023?

In 2023, the federal solar tax credit will decrease to 22%. So, if you are interested in investing in solar panels, the earlier the better as the tax incentives have been on a steady decline over the past few years.

State and Local Solar Tax Incentives

There are multiple state and local solar tax programs in addition to the federal ITC. You can learn more about your local solar tax programs your state offers here.

Why Choose Tick Tock Energy for Solar Panel Installation?

Our customers choose us for our passion, attention to detail, and top-rated solar panels. On top of that, Tick Tock Energy is dedicated to providing the best customer service possible. To accomplish this, we walk our customers through the process of federal and local solar tax incentive programs. We are experienced and familiar with these programs and can help you navigate them to get the most out of your solar panel investment.

Learn More About Solar Tax Credits in 2022 & 2023

If you are interested in learning more about the solar tax credits available to you in 2022 and 2023, contact Tick Tock Energy today.