Solar ITC Extended Until 2022

12/22/2020
US Congress voted to extend the Solar Investment Tax Credit.

On Monday, December 21st, the US Congress extended the Investment Tax Credit program for solar power by two years. 

 

The solar investment tax credit (ITC) allows you to reduce the cost of your solar installation by 26% with your federal taxes, and applies for both commercial and residential projects.

 

Starting in 2023, the ITC will drop to 22% for all installations. By 2024 and onwards, the commercial projects will drop to 10% and residential installations will drop to 0%.

 

Prior to this extension, the ITC was scheduled to drop to 22% at the end of 2020 with the additional decrease to 10% on commercial projects & 0% on residential installations in 2022. This extension now gives homeowners and installers two more years to take advantage of this program.

 

Wind tax credits benefited from this extension as well, receiving a one-year extension.

 

Krannich Solar

On a global level, Krannich Solar is prepared to support and service installation partners through all phases of their project with a dedicated sales manager for every client. Krannich Solar strives to fulfill all of the installer’s solar needs from a single source by offering a wide range of solutions for every project, from a small 4 panel system to multi-megawatt commercial projects. Their close cooperation with leading manufacturers around the world allows Krannich Solar the buying power needed to provide customers with competitive product pricing and exceptional availability. In efforts to provide 24/7 service, Krannich Solar launched their web shop offering users access to view their entire product range, along with current prices, delivery time, and comprehensive technical documentation.

www.usa.krannich-solar.com