The U.S. government just extended the Solar Investment Tax Credit (ITC). Great! But wait, what is the ITC and why should I care about this news? Well, the ITC extension means there’s money on the table for homeowners looking to go solar. How much you ask?
The ITC allows you to claim up to 30% of the price you pay to install solar panels, which significantly reduces the cost of going solar. That’s $8,000-10,000 in savings for most households. This is a big opportunity for folks looking to go solar. If you’re exploring whether solar is a good fit for your home, ask your tax professional if the ITC is a good fit for your financial situation. It’s worth checking out.
So, we know the ITC is a benefit to individual households across Vermont and nationwide, but what does this mean for the bigger picture? It gets even better.