Unlocking Savings: Federal Tax Credit for Solar Panels Invest smartly in solar energy to reduce your tax burden. Maximize savings with the 30% Investment Tax Credit (ITC). Learn how to claim it and benefit financially from your solar investment. Contact us at 252-378-5705 for expert guidance. by Solar4biz Pros What is the Federal Solar Tax Credit (ITC)? No Cap No maximum credit for systems placed in-service after 2022 Tax Savings 30% credit on solar PV system purchase and federal tax credit for installing solar panels costs Strong Incentive Encourages adoption of solar energy nationwide Wide Application Applies to both residential and commercial properties Who is Eligible for the Solar Tax Credit? Residential Owners Homeowners who own their property and solar system New & Used Equipment Credit applies to both new and used solar gear Business Owners Businesses owning commercial property and solar equipment Operational Requirement System must be placed in service during the tax year How the Solar Tax Credit Works Calculate Cost Determine total expense of your solar panel installation Compute Credit Multiply total cost by 30% to find credit amount Claim Credit Use IRS Form 5695 when filing your federal income taxes Offset Taxes Reduces both regular income tax and alternative minimum tax Benefits of Claiming the Solar Tax Credit Lower Upfront Costs Significantly reduces initial investment expenses Faster ROI Speeds up return on solar installation investment Save on Energy Decrease long-term electricity bills Eco-Friendly Supports sustainable energy and reduces carbon footprint Claim Your Solar Tax Credit Today Consult a tax professional for personalized advice Keep records of system costs and installation dates File IRS Form 5695 with your federal tax return Contact us to start your solar journey: Phone: 252-378-5705 Email: info@solar4bizpros.com Address: 529 Stutts Rd, Mooresville, NC 28117 solar4bizpros.com Thank you for choosing solar and sustainability!