- State: The tax credit is equal to 10% of the installed cost of the solar energy device not to exceed $25,000 in credits for one building in a single tax year and $50,000 total credits per business per tax year.
Approved systems: Solar hot water system, PV system, and solar pool heating.
- Federal: The federal tax credit offers a 30% credit on solar power systems and allows businesses a depreciation schedule over 5 years.
Approved systems: Solar hot water system and PV system
- Utility rebates: Utility rebates vary by utility companies and systems installed. Check your local utility company today to see if you qualify.