Federal ITC Tax Credit Update For Solar Energy Installations Through 2022

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The Federal Investment Tax Credit is slated to change in 2023. Option One Solar provides services for anyone looking for solar on their homes before changes go into effect.

Option One Solar, a California-based company, has announced an impending update to the Federal Investment Tax Credit (ITC). The company encourages solar-powered homeowners to invest in their services to reduce the amount of taxes required after their purchase.

More information can be found at https://optiononesolar.com/solar-investment-tax-credit-itc

The Solar Tax Credit is a federal program that enables buyers to reduce the amount of tax they owe in the year following their purchase. With the latest announcement, Option One encourages anyone thinking about solar to make the switch before the legislation changes.

To qualify under the existing conditions, customers are required to first purchase a solar-powered system. One year following this purchase, the client would then present their receipt of purchase to the relevant tax processor and begin the tax-reduction process.

Once signed up, the customer can make claims for solar equipment, freight shipping costs, and fees for solar consulting, professional installment, electricians, and engineering.

Claims can also be made for rented or bought tools, permitting fees, contractor costs, roofing repairs or replacement, and such tools as wiring, screws, bolts, and nails.

Those who purchase and install their solar system before December 31, 2022, own their own home, are federal taxpayers, and own a new solar system qualify for the nationwide Federal Tax Credit, which stands at 26%.

Option One Solar recommends that investors meet the December 31, 2022 deadline since the ITC is scheduled to end in 2023. As such, a representative for the company encourages that the best time to invest in a solar-generated system is now.

The representative also explains that “We are not tax professionals, but we provide our customers with the documents and direction they need to get the most out of their solar investment.”

About Option One Solar

Option One Solar was first founded in the Aerospace Industry by former US Air Force officer and fighter jet electrician, Jerry Thomas. The company prides itself on striving for excellence and world-class quality and is regarded as one of the most trusted solar companies in California.

To find out more about the Solar Investment Tax Credit or to sign up for reduced tax payments for their installation, interested parties can visit https://optiononesolar.com/solar-investment-tax-credit-itc