Who Is Eligible for the Federal Solar Tax Credit?
To qualify for the Solar Investment Tax Credit, you must own the PV system being installed. You must also be the property owner of whatever residential or commercial building is receiving the panels.
Note, however, that the property in question doesn’t have to be your primary residence. This means vacation homes, stationary RVs, and rental properties (that you own) are all eligible.
In addition, there are no maximum limits under the Solar ITC:
- A $10,000 installation translates to a $3,000 credit.
- A $50,000 PV system yields a tax credit of $15,000.
And if the credit exceeds your tax liability for that year, you can carry it forward to the next tax season.