Under the American Recovery and Reinvestment Act of 2009 (ARRA) Solar powered products can receive Federal Tax Credits for the product and the install cost when used in residential homes. The Manufacturers Statement should be attached to the tax credit form 5695 and submitted with your IRS form 1040.
The tax credits will reduce over the next three years so get in early.
- 2020 save 26% federal tax credit
- 2021 save 22% federal tax credit
- 2022 no residential credits (10% for commercial)