Tag Archives: Tax

How To Apply For Solar Tax Credits

A homeowner can save a significant amount of money when they decide that they want to install a solar power system. With federal, state, and county tax rebates, solar installers can currently receive 26% in credits that they can apply towards the payback of their system. Applying for these credits when you file your taxes can require specific forms with the IRS. Here are the easiest ways to handle the paperwork.

Federal Taxes

Tax credits at a federal level can leave you with a 26% deduction on your federal taxes for the year of installation. This works if you own a commercial or residential building that has solar panels installed within 2020. You can apply for the deal throughout this year as long as your system started construction within the calendar year. Credits available for 2021 fall to just 10%. To apply for this system, you will need to have …