Solar incentives are available at the federal, state, and local level.
Federal Tax Incentives
There is currently a Federal Income Tax credit worth 26% of the total system cost through 2022. This is a dollar-for-dollar credit on your federal taxes that can be utilized in the year of install, one year back, or banked for up to 20 years. In addition to the ITC, there is also an accelerated depreciation benefit for commercial and industrial entities. Between these two favorable tax policies, total system cost can be reduced by nearly half.
State Level Incentives
There are also a number of state level incentives potentially available for your project. Examples include but are not limited to:
- State sales and property tax exemptions for solar installations
- State or ratepayer sponsored cash grants and rebates
- State level tax credits
- Solar Renewable Energy Certificates (SREC) incentives
- Utility sponsored grants and rebates
The Glow project development team will work to identify and apply for any applicable incentives for your project.