SunSmart and Federal Tax Credits
Federal Tax Credit (To Download Federal Tax Credit Forms For 2017 Click Here) - 2017 TAX CREDIT FORMS WILL BE AVAILABLE JANUARY 2017
The federal government is allowing a 30% federal income tax credit for a residential system with no maximum dollar amount. The tax credit for commercial buildings is 30% of the solar system costs with no maximum dollar amount.
For homeowners who finance their solar system, they may be able to deduct the interest paid.
These incentives will cover a substantial portion of the total cost, and the result is solar power being competitive with electric utility power. And possibly, depending on inflationary increases in the coming decade(s), be significantly less expensive than the prevailing energy rates of the future.
This includes potential incentives and tax benefits of installing a solar photovoltaic system. You should confirm the availability of the economic incentives and you should consult your tax advisor about the tax credit before you install a solar photovoltaic system.