Solar Tax Credit: Your Path to Self-Paying Solar Solutions in Missouri & Illinois
Right now the federal government is giving out a 30% federal tax credit for qualified homeowners! What does that mean for you? It means Solar benefits you directly. How about an extra $7,000 (average tax credit) you get to keep in your pocket this next tax season!
Valuable Tax Credit in Missouri and Illinois
This amazing solar tax incentive is 30% this year. This is free money you are missing out on if you don't act fast. Switch to sunshine today and claim your 30% Tax Credit Incentive before it's gone!
How the Tax Credit Works
Once you have purchased your solar system, you will be eligible for the Federal Solar Tax Credit. This allows solar owners to get back 30% of their total solar purchase. This a huge savings and homeowners can opt to put that money back into their solar system to help pay it off quicker.
Solar Tax Credit in Missouri and Illinois
The Solar Tax Credit, also known as the Investment Tax Credit (ITC), is a federal government tax incentive that allows taxpayers to claim a credit for a portion of the cost of installing a solar renewable energy system. The credit applies to both residential and commercial solar installations Illinois
and Missouri
and can be used to offset the cost of photovoltaic systems.
The Solar Tax Credit was established to encourage the adoption of renewable energy sources via solar modules and has been in place for several years now. It works by allowing homeowners and businesses to deduct a portion of the cost of their solar install from their federal taxes owed. For example, if a homeowner installs a $12,000 solar energy system, they may be eligible to claim a tax credit of 30% of that cost, or $3,600.
It's important to note that the Solar Tax Credit was scheduled to decrease in the coming years, however the recent legislation proposed to extend the 30% credit and it passed!
To claim the Solar Tax Credit (ITC), taxpayers must file a tax return and submit the necessary forms and documentation to the Internal Revenue Service. Taxpayers may also want to consult a tax professional for assistance in claiming the solar tax credit.