Get a 30%+ Federal Tax Credit with Eversun!
Key Facts
The Federal Solar Investment Tax Credit (ITC) provides a 30% tax credit for renewable energy qualified systems, residential or commercial. That means if you purchase our Sun-Powered eTower systems you could qualify for nearly one-third of the cost to be deducted from any taxes owed next time you file. If you don’t owe enough in taxes, you can also pass this tax credit forward for up to 10 years! Imagine the impact this can have on your business or community!
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Who Qualifies?
The only requirement for the solar tax credit is owning a system that is powered by solar energy. Leasing a solar-powered system does not qualify for the solar ITC. The person or organization that you’re leasing from would get the tax credit. [See Source for more info]
If you’ve been thinking about investing in lights for your business, club, school, or personal court, now is the time! For more details about the credit visit the Energy.gov website.
See this link for more information for businesses
See this link for more information for individuals
How to Claim
Claiming the solar tax credit is easy. If you discover that you qualify for the solar tax credit, fill out Form 5965 from the IRS found here. This form will certify that you are qualified to receive renewable energy credits. Then, just add your renewable energy credit information to a standard 1040 form found here, and you’re done!
Save 30% or more of your eTower cost with ITC Tax Credits!
In addition to the federal tax incentive – tax credits are also available through your state taxes. Check out the directory to find out what savings exist in your state.
What expenses are included?
The following expenses are included in the new 2022 federal solar ITC tax credit:
- Solar PV panels or PV cells
- System Equipment
- Energy storage devices that have a capacity rating of 3 kilowatt-hours (kWh) or greater (for systems installed after December 31, 2022).
- Sales taxes on eligible expenses
To be eligible for the ITC, the system must be:
- Located in the United States or U.S. territories[6]
- Use new and limited previously used equipment[7]
- Not leased to a tax-exempt entity (e.g., a school), though tax exempt entities are eligible to receive the ITC themselves in the form of a direct payment.[8]
Eversun LLC is not a tax advisor. Taxpayers claiming a tax credit should consult a tax professional with any questions. Eversun is not responsible or liable for the taxpayer’s ability to receive tax credits. This document is not intended to constitute legal or tax advice. More comprehensive information will be made available by the IRS.