Local Utility Solar Rebates & Federal Solar Tax Credit (ITC)
The Federal Solar Tax Credit (ITC) is a federal incentive program that allows homeowners to receive a tax credit for the purchase of solar energy systems. This tax credit helps to reduce the cost of installing solar panels and other renewable energy equipment. The ITC works by allowing homeowners to deduct 30 percent of the cost of their solar system from their federal taxes. This incentive can be used for both residential and commercial installations, making it an attractive option for those looking to save on energy costs while making a positive impact on the environment.
Solar rebates are a great way to save money on energy costs. Local utilities such as AEP and Oncor offer solar rebates to customers who want to go solar. These solar rebates can help offset the cost of installing a solar system, making it more affordable for homeowners and businesses.