Residential Tax Credits

Federal Personal Investment Tax Credit Get the Information You Need to Help Your Wallet

A taxpayer may claim a credit of 30% of qualified expenditures for a home solar power system that serves a dwelling unit located in the United States that is owned and used as a residence by the taxpayer. Expenditures with respect to the equipment are treated as made when the installation is completed. If the installation is at a new home, the “placed-in-service” date is the date of occupancy by the homeowner. Expenditures include labor costs for on-site preparation, assembly or original system installation, and for piping or wiring to interconnect a system to the home. If the federal tax credit exceeds tax liability, the excess amount may be carried forward to the succeeding taxable year.

Tax Credit RundownMaximum Allowable Credit, Equipment Requirements, & Details Vary by Technology

  • 30% for systems placed in service by 12/31/2019
  • 26% for systems placed in service after 12/31/2019 and before 01/01/2021
  • 22% for systems placed in service after 12/31/2010 and before 01/01/2022
  • There is no maximum credit for systems placed in service after 2008
  • Systems must be placed in service on or after January 1, 2006, and on or before December 31, 2021
  • The home served by the system does not have to be the taxpayer’s principal residence.
  • Property tax abatement: 80% of the appraised value of the solar photovoltaic system is exempted from property tax.

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202 N. Dixon Ave. Cary, NC 27513

Phone: (919) 459-4155 Fax: (919) 462-3177

NC General Contractors License: #67356

NC Electrical Contractors License: #31227-U

SC General Contractors License: #CLG 120015

SC Electrical Contractors License: #M113878-U

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Yes Solar Solutions is proud to make solar simple, bringing the power of independence to North Carolina homeowners and businesses. Serving Raleigh, Cary, Durham, Greensboro, Morrisville, Chapel Hill, Apex, Holly Springs, Garner, Winston-Salem, High Point, Burlington, Fayetteville and all of North Carolina.

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