Unlock the Savings: Solar Panel Tax Credits Still Available for Leases
Discover how homeowners can still take advantage of federal tax credits for solar panels, even if they don't own the system outright.
Homeowners looking to harness the power of the sun and reduce their energy bills are often faced with a surprising catch: the federal tax credits for solar panel installations are no longer available for purchased systems, but they are still accessible for leased ones. This shift in the solar incentive landscape has led rooftop solar installers to steer more customers toward leasing options rather than outright purchases.
The federal solar investment tax credit (ITC), which had offered a significant financial incentive for homeowners to invest in solar power, expired at the end of 2022. However, the ITC remains in place for solar panel leases, allowing homeowners to still benefit from the tax savings without the upfront cost of ownership.
Source: NPR
