The photo voltaic tax credit score, often known as the photo voltaic funding tax credit score (ITC), is a federal tax credit score that reduces the price of putting in a photo voltaic vitality system. The ITC is obtainable for each residential and industrial photo voltaic installations and may be claimed on federal revenue taxes. The ITC was first launched in 2006 and has been prolonged a number of instances since then. It’s at present scheduled to run out in 2025.
The ITC has been a significant driver of the expansion of the photo voltaic business in the USA. It has helped to make photo voltaic vitality extra inexpensive and accessible for householders and companies. The ITC has additionally created jobs and stimulated financial progress.