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Finance

How SolarCity’s Customers Benefit from Solar Tax Credits

ITCs (investment tax credits) are dollar-for-dollar reductions on income tax bills. These apply to both residential and commercial deployment of solar systems. The owners of a solar system is eligible for a maximum tax credit of 30% of his investment value in the applicable solar systems—if their construction starts before December 31, 2019. Thereafter, the tax credit amount will gradually be reduced to 26% for construction in 2020, 22% in 2021, and 10% in 2022.

It’s thus important for incumbent solar (TAN) companies like Sunrun (RUN), SolarCity (SCTY), Vivint Solar (VSLR), and Sunpower (SPWR) to plan their project execution in order to take maximum advantage of the tax credits.

View more information: https://marketrealist.com/2016/04/solarcitys-customers-benefit-solar-tax-credits/

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