Summary Of Solar Incentives For California Businesses

Benefits of Commercial Solar Power

Solar systems may seem like a substantial investment but they provide business owners with significant near and long-term benefits. Solar power is now less expensive than the utilities so not only will you start saving immediately but you will also receive roughly 60% in first-year tax incentives, recover your investment in 3-5 years and earn an annualized investment return ranging from 15-25%.

Claim Up To 70% Off With Tax Incentives!

Tax Incentives

The 2022 solar investment tax credit allows you to claim 30% of the cost of installing a solar power system from your federal taxes but this is scheduled to revert to 10% by year 2024. Additionally, the Tax Cuts & Job Act allows for 100% depreciation in the first year.

30% Federal Tax Credit

The federal solar tax credit, also known as the investment tax credit (ITC), allows you to deduct 30% from your federal taxes, with no cap, in the year the system is installed.

Get Your Tax Credit Before It’s Too Late

The 2022 solar investment tax credit (ITC) of 30% is scheduled to decline to 26% in 2023.

100% Federal Bonus Depreciation

The U.S. tax code allows for you to either depreciate your system over a 5 year MACRS accelerated recovery period with 50% bonus depreciation in the first year, or, elect 100% bonus depreciation in the first year under the Tax Cuts and Jobs Act of 2017.

5 Year California MACRS Depreciation

California business owners may also be eligible for MACRS 5 year accelerated depreciation schedule or a elect to depreciate on a straight-line basis.

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Structural Incentives
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