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Solar Panels

Updated: Jul 10

Do solar panels make economic sense for you?

Solar Investment Tax Credit “ITC”, aka ‘federal solar tax credit’ is to remain at 26% of the cost for 2021 & 2022 tax filing seasons. This federal credit will drop to 22% in 2023 and expire. 2019 and before enjoyed a 30% credit. If the panels are bought or leased new and installed in the year tax credit is active, you qualify.

In addition to the federal credit, your state or location may offer a tax credit or other incentives in the form of rebates and net metering. Since credits are taken below the line, this will not help manage your AGI for the credits such as the Child Tax Credit “CTC”.

The foregoing content reflects the opinions of Mountain Wealth Planning and is subject to change at any time without notice. Content provided herein is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that the statements, opinions or forecasts provided herein will prove to be correct. Past performance may not be indicative of future results. Indices are not available for direct investment. Any investor who attempts to mimic the performance of an index would incur fees and expenses which would reduce returns. Securities investing involves risk, including the potential for loss of principal. There is no assurance that any investment plan or strategy will be successful.

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