pilgrimvalley Posted December 1, 2022 Share Posted December 1, 2022 A quick 30 percent discount from your solar equipment purchases! I was reading about the federal tax credit for solar installations.... I believe they call it the( ITC ) which stands for >>>> investment tax credit most of this 1st post is off the top of my head from reading about it a week or more ago.... it sounds like they passed legislation where it is increasing to 30 percent for solar equipment installed in the year 2023.... a tax credit is better than a tax deduction... if you are taxed as most people are ( we need another Boston Tea party ) there is no maximum to the amount you can install for your residential solar project to get the Federal tax credit either.... there are various IRS rulings but it has to be installed to claim the deduction and the energy storage batteries will qualify if they are charged by the solar and the inverter, charge controllers and other equipment for the system.... I never seen this topic discussed so thought it would be good... my solar photovoltaic system is off-grid and there are no state incentives in South Dakota where I am installing the system off-grid and there is no net metering so I would not hook up to the grid anyway,,, at least in South Dakota there is no net metering,,, so no need to pay for all that extra stuff to give them the excess solar production for nothing.... each year until about the year 2032 or later (I don't remember the exact date) you could continue to add additional equipment.... I have been investing in solar equipment for about 10 plus years maybe 12 or 13 years but a lot more heavily the last 4 - 5 years.... I still have a solar panel that I used in my 1990 f250 4x4 that made my battery last about 8 years.... a very good investment,,,,>>>> that small solar panel still works over 30 years later more later,,,,🤔🤔😎 Quote Link to comment Share on other sites More sharing options...
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