{"id":188,"date":"2016-10-18T14:35:35","date_gmt":"2016-10-18T21:35:35","guid":{"rendered":"http:\/\/www.delsolnrg.com\/?p=188"},"modified":"2023-02-26T17:28:52","modified_gmt":"2023-02-27T01:28:52","slug":"act-now-claim-solar-tax-credit-year","status":"publish","type":"post","link":"https:\/\/delsolenergy.com\/act-now-claim-solar-tax-credit-year\/","title":{"rendered":"Solar Tax Credit 2023: The Updates and Details You Need to Know"},"content":{"rendered":"<h2 data-fontsize=\"22\" data-lineheight=\"33\"><strong>What is the Solar Investment Tax Credit?<\/strong><\/h2>\n<p>The <em>Solar Investment Tax Credit<\/em> (ITC) is a dollar-for-dollar reduction in federal income tax for anyone who purchases solar panels for their home or business. If you&#8217;re looking for the most up to date solar tax credit 2023 questions and answers, Del Sol Energy has your answers. The amount credited is equal to 30% of the purchase price of your solar system.<\/p>\n<ul>\n<li><strong>It\u2019s not a Rebate<\/strong>\u00a0or cash refund paid back to you by the State or Utility company.<\/li>\n<li><strong>And it\u2019s not a Tax Deduction<\/strong> (which reduces your total income and thereby decreases your tax bill by a small amount).<\/li>\n<\/ul>\n<p>It\u2019s\u00a0a direct reduction in the dollars that you don\u2019t have to pay the IRS, or that the IRS will refund to you in April if you\u2019ve overpaid.<\/p>\n<h2>Solar Tax Credit 2023: The Answers to All Your Questions<\/h2>\n<p>The Investment Tax Credit was set to expire at the end of 2016, but it was extended in December of 2015. It will retain the 30% rate until 2019. In 2020, it will fall to 26% and then down to 22% in 2021, after which it will remain at 10% for commercial solar and drop down to 0% for residential projects.<\/p>\n<h3 data-fontsize=\"22\" data-lineheight=\"33\"><strong>How Does it Work? All Your Solar Tax Credit 2023 Answers<\/strong><\/h3>\n<p>This is how it works: Let\u2019s say you purchase a system for $23,000.\u00a0 Take the net cost, which is the price you paid less any other credits, and multiply that by 30%. $23,000 x 0.30 = $6,900.\u00a0 That\u2019s $6,900 that you don\u2019t have to pay the IRS, or that the IRS will refund you in April if you\u2019ve overpaid.<\/p>\n<p>As always, please consult with your tax professional if you\u2019re unsure if you qualify or not. You could mention IRS Form 5965 \u00a0to your CPA or tax adviser.<\/p>\n<div id=\"tax-tagline\" class=\"fusion-reading-box-container reading-box-container-1\">\n<div class=\"reading-box\">\n<p><a class=\"button fusion-button fusion-button-default button-round fusion-button-small button-small button-flat fusion-desktop-button continue continue-right\" href=\"https:\/\/delsolenergy.com\/request-a-free-quote\/\" target=\"_self\" rel=\"noopener\">Get Started<\/a><\/p>\n<h3 data-fontsize=\"20\" data-lineheight=\"30\">Your Solar System must be installed by the end of the year<\/h3>\n<\/div>\n<\/div>\n<h4 data-fontsize=\"16\" data-lineheight=\"24\"><strong>Claim Your Solar Tax Credit Now<\/strong><\/h4>\n<p>As an experienced solar company here in California, every year at this time we are inundated with clients wishing to take advantage of the ITC in the current tax year.\u00a0 A criteria to do so is to have the solar system <strong>installed before the end of the year (by December 31, 2016)<\/strong>.\u00a0 Every year we have customers who miss out \u2013 so act now!<\/p>\n<p>Call <strong><a href=\"tel:+19253504121\">925-350-4121<\/a><\/strong> or go to <a href=\"https:\/\/delsolenergy.com\/request-a-free-quote\/\"><strong>GET STARTED<\/strong><\/a>\u00a0to learn more about the solar power systems that are the best fit for your home and your needs.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is the Solar Investment Tax Credit? The Solar Investment Tax Credit (ITC) is a dollar-for-dollar reduction in federal income tax for anyone who purchases solar panels for their home or business. If you&#8217;re looking for the most up to date solar tax credit 2023 questions and answers, Del Sol Energy has your answers. The [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Solar Tax Credit 2023 Updates and Details | Del Sol Energy<\/title>\n<meta name=\"description\" content=\"Claim your solar tax credit 2023 and the amount credited is equal to 30% of the purchase price of your solar system.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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