Solar Panel Credits Utah

Current utah solar incentives include generous rebates for solar electric and solar hot water systems.

Solar panel credits utah.

First enacted in 2005 as part of the energy policy act of 2005 the solar tax credit began as a tax credit of 30 percent of the cost to install a solar panel system with a maximum credit of 2 000. Renewable energy systems tax credit. Utah also receives some of the highest levels of solar irradiation in the country. For utah solar shoppers state and local tax credits mean there s never been a better time to start exploring solar offerings.

Utah code 59 10 1014 this credit is for reasonable costs including installation of a residential energy system that supplies energy to a utah residential unit. The biggest advantages in utah for installing solar panels are the state tax credit and the 26 federal tax credit. Additional residential energy systems or parts may be claimed in following years as long as the total amount claimed does not exceed certain limits. The utah solar tax credit officially known as the renewable energy systems tax credit covers up to 25 of the purchase and installation costs for residential solar pv projects capped at 1 600 of cost whichever is less.

Dolla dolla bill y all. The residential renewable energy tax credit as the irs calls it can be an attractive way to save on the significant cost of installing solar panels or roofing an average sized residential solar. Our solar installers will be happy to answer your questions and explain the benefits of solar power. And of course utahns also benefit from the federal solar tax credit.

Homeowners solar companies and industry advocates alike were given a big christmas gift in 2015 when congress approved the 2016 federal spending bill and extended the solar panel tax credit. The december 18 bill contained a 5 year solar tax credit extension which makes solar energy more affordable for all americans. If you install a solar panel system on your home in utah the state government will give you a credit on your next year s income taxes to reduce your solar costs. You can claim 25 percent of your total equipment and installation costs up to 1 600.

Utah s solar tax credit makes going solar easy. Whether or not you re getting any utility rebates everyone in utah is eligible to take a personal tax credit when installing solar panels. When combined with federal solar rebates your solar panel installation will be approximately 50 less because of the incentives. In 2008 the itc was reauthorized and the cap was lifted.