Discover how much you can save on your taxes when you install a solar system
Installing a solar energy system helps save the environment. Did you know it also saves you money on your federal taxes? Under the Consolidated Appropriations Act, you can claim a tax credit for up to 30 percent of the cost to install a solar energy system. However, the amount you claim depends on when you installed your system.
- If you install a system before Dec. 31, 2019, you’ll get a 30 percent credit.
- If you install a system between Jan. 1, 2020 and Dec. 31. 2020, you’ll get a 26 percent credit.
- If you install a system between Jan. 1, 2021 and Dec. 31, 2021, you’ll get a 22 percent credit.
Unfortunately, Florida doesn’t have a state tax credit system in place for in-home solar energy systems. However, you won’t have to pay sales tax if you get a property tax exemption on the solar energy system installed on your home or property.
If you’d like to save the most on your taxes when you install a solar energy system, it’s best to do it before Dec. 31, 2019. When you’re ready to harness solar energy for your home, call us at 904-GOT-SUN1 (468-7861), and we’ll be happy to set up a solar energy system for you.
