Investment Tax Credit (ITC) is when individuals can deduct a percentage of the cost of purchasing renewable energy systems or energy-efficient equipment from their taxes.
Production Tax Credit (PTC) is when tax credit is provided for each unit of renewable energy produced over a ccertain period, so to encourage the production of clean energy.
State Incentives
Overview of state-specific incentives available. Select your state for more details.
Offers Residential Renewable Energy Tax Credit for solar energy systems installed on residential properties. This credit can be up to 30% of the total system cost.
Also offers Self-Generation Incentive Program (SGIP), which provides rebates for qualifying energy storage systems installed on residential and commercial properties.
Offers Property Tax Exemption for Solar and Wind Energy Devices, which exempts the added value of solar or wind energy systems from property taxes.
Offers the Residential Solar Tax Credit, which provides a tax credit of up to 25% of the eligible costs of a soler energy system, maxed out at $5,000.
Offers the NY-Sun Initiative, which provides incentives for solar energy systems. These incentives vary depending on the size and type of system installed.
Offers sales tax exemptions for solar energy systems installed on residental properties.
Offers the Illinois Shines Program, which offers incentives for solar energy systems through Renewabble Energy Credits (RECs) and Solar Renewable Energy Credits (SRECs).
This program provides financial incentives based on the amount of energy produced buy the system.