Idaho Solar Incentives
Now is a great time to go solar in Idaho! Our team will help you navigate the latest solar updates to capture the best value for your project.
Federal Solar Incentive Tax Credit
The Federal Solar Investment Tax Credit (ITC) is valued at 26% of your total solar power system cost through 2022 for residential and commercial properties. This credit is used when residential homeowners or commercial businesses purchase solar systems and have them installed. This means that you'll receive a tax credit of 26% of your system's cost.
Contact Creative Energies at 208.354.3001 or info@CEsolar.com today for the latest solar incentives in your area.
Federal Tax Credits, Rebates, Incentive, and Grants for Solar
Solar ITC Details for Residential and Commercial Projects
The Federal Solar Investment Tax Credit (ITC) is valued at 26% of your total solar power system cost through 2022 for residential and commercial properties. This means that you'll receive a tax credit of 26% of your system's cost. This credit is used when residential homeowners or commercial businesses purchase solar systems and have them installed. A tax credit is a dollar-for-dollar reduction of the income tax you owe. If you can’t use the full value in one year, you can roll over the remainder to the next year. You should check with a tax adviser to make sure you can claim the entire value.
The Solar ITC will phase down every year after 2022: the Solar ITC drops to 22% in 2023; then, in 2024 the residential solar tax credit will be phased out and the commercial tax credit will drop to 10%. So take advantage of this Solar ITC now!
The Solar ITC extension is included in the stimulus package legislation H.R. 133.
Solar Backup Batteries Qualify for Federal Tax Credit
Commercial Solar Federal Tax Credit
The commercial solar federal tax credit at 26% applies to all kinds of businesses, including farms, ranches, agricultural businesses, breweries, car dealerships, coffee shops, restaurants, outdoor industry retail shops, bike shops, and more.
USDA Grants for Solar
The United States Department of Agriculture Rural Energy for America Program (REAP) grants provide guaranteed loan financing and grant funding to agricultural producers and rural small business owners to purchase or install solar energy systems. Our team can help you go through the application for solar grants.
Local Idaho Solar Incentives
Residential Alternative Energy Tax Reduction
Idaho residents may qualify for a tax deduction of 40% of the cost of their solar in their first year, and 20% for the following three years. The minimum deduction is $5,000, and has a maximum of $20,000.
The deduction for full-year residents is calculated on the Idaho Supplemental Schedule 39R, section B, with the result transferred to Idaho Form 40. For part-year and non-residents of Idaho, the deduction is calculated on Idaho Form 39NR, section B, with the results transferred to Idaho Form 43. The tax forms and instructions for Idaho residents can be found here.
Idaho Solar Rebates
At this time there isn't a local community solar program in Idaho, but more towns are going #SolarForGood with clean energy commitments and Creative Energies has worked on several community-sponsored solar programs in the past. We closely follow and advocate for renewable energy policies and programs, so we'll keep you updated.
You should check with a tax adviser to make sure you can claim the entire value of solar tax credit(s).