Household solar photovoltaic power generation certificate

Are solar PV systems eligible for a tax credit?

Solar PV systems installed in 2020 and 2021 are eligible for a 26% tax credit. In August 2022, Congress passed an extension of the ITC, raising it to 30% for the installation of which was between 2022-2032. (Systems installed on or before December 31, 2019 were also eligible for a 30% tax credit.)

Are solar water heaters Energy Star certified?

Solar water heaters must be certified by the Solar Rating Certification Corporation or a comparable entity endorsed by your state. Geothermal heat pumps must meet Energy Star requirements in effect at the time of purchase. Battery storage technology must have a capacity of at least 3 kilowatt hours.

Can you get a solar tax credit if you go solar?

Unlike popular solar incentives such as the federal solar tax credit (ITC), SRECs aren't available to everyone and vary by state and utility company. The extra income you can earn from SRECs is just one example of how going solar can benefit you financially for years to come.

Can I claim a tax credit for an off-site solar project?

Notes: the IRS issued a statement (see link above) allowing a particular taxpayer to claim a tax credit for purchasing an interest in an off-site community solar project. However, this document, known as a private letter ruling or PLR, may not be relied on as precedent by other taxpayers.

Can you buy and sell solar certificates?

Just as you can buy and sell RECs to transfer the right to count renewable electricity, you can buy and sell SRECs to transfer the right to count solar electricity. SREC markets facilitate the sale of solar certificates, but they only exist in states with a solar carve-out.

Do geothermal heat pumps meet ENERGY STAR requirements?

Geothermal heat pumps must meet Energy Star requirements in effect at the time of purchase. Battery storage technology must have a capacity of at least 3 kilowatt hours. File Form 5695, Residential Energy Credits with your tax return to claim the credit.