Solar Investment Tax Credit: everything you need to know (2022 update)
Big news! The Inflation Reduction Act has increased the federal tax credit for solar to 30% and extended it for another decade. That’s a big deal for anyone who wants to install solar on their home or business. Disclaimer: I'm a solar nerd, not a tax nerd. Please consult a tax professional for authoritative advice on this issue. This tax credit, often called the Solar Investment Tax Credit, gives homeowners and businesses a break on their federal taxes worth 30% of the gross price of a solar photovoltaic system.