Residential Tax Credits and Solar Rebates

Federal Tax Credit and North Carolina Solar Rebate

Federal Tax Credit

You can 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.

2018 North Carolina Solar Rebate

In addition to the 30% Federal Tax Credit, with the passing of House Bill 589, as of January 1, 2018 each public utility company serving over 150,000 North Carolina customers, including Duke Energy customers are eligible to receive a new rebate incentive for residential systems up to 10 kW.  The rebate includes nonresidential and in total is limited to 10MW installed per year (5MW for residential) continuing through December 31, 2022.

We are on top of the latest developments regarding solar rebates and tax incentives/credits.  Although the exact amount of the solar rebate has yet to be determined, we will keep you updated as new information is available.  Now is a great time to give us a call and talk about your energy goals.

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: 100% of the appraised value of the solar photovoltaic system is exempted from property tax. (Residential net-metered)

Contact Yes Solar Solutions Today! Book a Consultation

Contact Yes Solar Solutions Today! Book a Consultation

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

Yes Solar Solutions Mission

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.

BBB Accredited Solar Energy Equipment Company in Cary, NC