The photo voltaic tax credit score, often known as the photo voltaic funding tax credit score (ITC), is a federal tax credit score that reduces the price of putting in a photo voltaic power system. The ITC is out there for each residential and industrial photo voltaic installations and may be claimed on federal earnings taxes. The ITC was first launched in 2006 and has been prolonged a number of occasions since then. It’s at present scheduled to run out in 2025.
The ITC has been a serious driver of the expansion of the photo voltaic business in america. It has helped to make photo voltaic power extra reasonably priced and accessible for householders and companies. The ITC has additionally created jobs and stimulated financial development.