CLAIM YOUR FEDERAL SOLAR TAX CREDIT
Save Up To 26% On Your Solar Project. Credit Expires 12/31.
What is the Solar Investment Tax Credit?
The Solar Investment Tax Credit (ITC) is one of the most popular and successful federal policy mechanisms ever enacted to support renewable energy in the US. The ITC is a tax credit can be claimed on federal corporate income taxes for 26 percent of the cost of a solar PV system installed during that year.
Approximate Savings Breakdown
|Typical Industry||System Size||2020 Savings||2021 Savings||2022 Savings|
|Non-Profits, Small Buildings||40 KW||$26,000.00||$22,000.00||$10,000.00|
|Realestate, Retail, Large Office||100 KW||$52,000.00||$44,000.00||$20,000.00|
Why Act Now?
The upcoming stepdown will substantially increase your solar project’s total cost. Let’s run the numbers with a 100 kW array on a multi-home residential unit, retail space, or office building, which costs approximately $200,000.
With the 2020 ITC rate of 26%, your savings would be roughly $52,000. At the end of this year, those savings reduce to $44,000. In 2022, when the rate drops to 10%, savings are reduced to $20,000. Waiting two years before starting your project can end up costing you $32,000 in tax credit savings.
Cost & Timing. The cost of power has increased by 50% since 2008. The cost of solar has decreased by 80%. Solar energy is guaranteed to reduce operating costs and bring more money back to your organization.
Price Security. Solar provides a locked & affordable energy rate, insulating your organization from rising electricity costs. As electricity costs continue to rise, your savings increase – allowing for predictable financial forecasting.
Sustainability. The Harvard Business Review reports that 65% of people are more likely to engage with brands that act sustainably. By working with IPS, you’ll contribute to the 259,689,112 lbs of carbon emissions per year offset by our partners & clients.
Questions? Ask The Experts.
As an IPS client, we take care of all applications and permits necessary to complete your project. Our 30+ years of experience with state, federal, and utility incentive programs allow us to maximize savings your savings by sourcing more funds than any other developer. Contact us to get your questions answered and get started today.