In December 2015 Congress passed a 5 year extension on the Federal Solar Investment Tax Credit (ITC) – that means, dollar for dollar, up to 30% of the costs related to a new solar energy system for your residential or commercial property can be reduced from your taxable income until 2019 – and there’s no cap on the value of the system!

While savings are gradually reduced from 2020 onward, there’s still time to save an average $5,000 dollars installing your residential solar panels. Even better — if your tax liability isn’t great enough to claim the entire credit, you can roll the savings over to the next year, as long as the bill is in effect. Note that lessees of solar systems will not be available for the credit. Call your preferred tax specialist to find out if you’re eligible!