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What’s the Solar Energy Tax Credit?
by TurboTax•1643• Updated 5 days ago
To claim the nonrefundable Solar Energy Federal Tax credit, you need to complete and attach IRS Form 5695 to your federal tax return.
Solar photovoltaic (PV) systems installed in 2020 and 2021 are eligible for a 26% tax credit.
In August 2022, Congress passed an extension of the investment tax credit (ITC,) raising it to 30% for installations between 2022-2032. (Systems installed on or before December 31, 2019, were also eligible for a 30% tax credit.)
It will decrease to 26% for systems installed in 2033 and to 22% for systems installed in 2034. The tax credit expires starting in 2035 unless Congress renews it.
For info on where to enter qualified energy-saving improvements, go here.
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