The rush to install solar is on. The 30% federal tax credit can typically be worth anywhere between $4,500 to well over $10,000. A lot of hard work went into getting this valuable tax credit extended, so why give it away to some overpriced solar lease or PPA company.
The Investment Tax Credit (ITC) is a 30 percent federal tax credit for solar systems on residential (under Section 25D) and commercial (under section 48) properties that, under current law, remains in effect through December 31, 2019. The Section 48 commercial ITC is used for utility-scale, commercial and residential sized projects. The Section 25D residential ITC is used for residential sized projects, and the homeowner applies the credit to his/her income taxes. This credit is used when homeowners purchase solar systems outright and have them installed on their homes.
A tax credit is a dollar-for-dollar reduction in the income taxes that a person or company claiming the credit would otherwise pay the federal government. The ITC is based on the amount of investment in solar property. Thus, both the commercial and residential ITC are credits equal to 30 percent of the basis that is invested in eligible property that is placed in service before December 31, 2019.
The creators of Minnesota Solar Energy have a long history of designing and selling storage based grid tie and off grid solar systems to a nationwide market and has recently begun offering both lithium cobalt and lithium iron phosphate energy storage systems to the Minnesota market.click here for a quote