Government Tax Credits
Federal Tax Credits Help Pay 30% of the Installed Costs
Until 2016 Federal and local incentives have been expanded to make a solar energy investment earn a reasonable ROI. Residential tax credits for solar (PV) electricity, solar hot water/heating are now 30% of the installed cost with no cap. Commercial solar incentives are even better. The 30% tax credit applies to solar PV, wind turbines and solar hot water with no cap. The Modified Accelerated Cost-Recovery System (MACRS) reduces cost to almost 50 cents on the dollar. Renewable Energy Credits ”RECs” are issued on the energy produced and can be sold.