Inflation Reduction Act - Solar Tax Credit Extension
Inflation Reduction Act - Solar Tax Credit Extension
The solar tax credit has been extended until 2032 at 30% according to the Inflation Reduction Act. It will drop to 26% in 2033 and then to 22% in 2034, before going away in 2035.
Solar tax credit schedule under the Inflation Reduction Act.
Stand alone energy storage also becomes eligible for this tax credit for batteries with at least 3 kW storage capacity. The Inflation Reduction Act is expected to bring about unprecedented growth in the industry. The solar workforce is expected to 50x over the next decade.
The Recovery Act of 2009 included a 30% solar tax credit for Americans who installed solar on their home.
More resources:
Residential Solar Tax Credit - Form 5695