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2023 Federal Tax Credit Solar Incentive

  • In 2022 the federal tax incetive for solar was increased from 26% to 30%
  • Most FL homeowners installing new systems with SunVena are eligible for the full 30% savings
  • The solar tax credit will be reduced to 22% by 2034
  • Home battery backup connected to solar power projects also qualify

Solar Tax Credit Explained

The Investment Tax Credit (ITC), also known as the Residential Clean Energy Credit, or Federal Solar Tax Credit, is a federal incentive designed to increase renewable energy production and help more homeowners install solar. This incentive was set to expire after 2024, but through the recently passed Inflation Reduction Act of 2022, this incentive was not only extended but increased from 26% to 30%. Now more than ever is the right time to go solar!

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Tax Credits Provide Maximum Savings

Tax credits are often confused with tax deductions or exemptions, but it’s important to understand the difference, as credits provide substantially more savings.


When you claim a tax credit, it reduces the total taxes you owe, dollar for dollar. For example, let’s say you owe $10,000 in taxes and qualify for a $4,500 tax credit. That means the taxes you owe are reduced to $5,500 with the claimed credit.

  • $4,500 tax credit = $4,500 savings

Deductions and Exemptions

Tax deductions and exemptions only reduce your taxable income, which means you save on your taxes, but not as much as you would with a tax credit. If you had a $4,500 tax deduction, it would reduce your taxable income by $4,500,which would save only you $1,080 in taxes.

  • $4,500 tax deduction = $1,080 savings (assuming a 24% tax rate)
FL Homeowners can qualify for solar tax credits
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Solar Tax Credit Eligibility

Our highly experienced Solar Advisors will help you determine your eligibility and work hard to ensure you receive the maximum solar federal tax credit savings you’re entitled. Here’s what you need to qualify.

  • Homeowners are eligible for the ITC credit.
  • Solar or battery backup must be installed and operational the same year you claim the federal tax credit.
  • Individuals applying for the tax credit must have sufficient tax liability.
  • You’ve financed or outright purchased your solar system or energy storage.
  • The solar or energy storage system must be new. Used solar equipment is not eligible.

See How Much You Can
Save With Solar Today

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