3D US Solar Growth 900x300 (1)The following tax benefits for new owners of solar PV systems are available to tax-paying entities and greatly improve the return on investment.

FEDERAL

  • 30% business energy investment tax credit for projects commencing construction by 2019
  • 5-year accelerated depreciation via Modified Accelerated Cost-Recovery System (MACRS)

STATE (Varies- below is for Massachusetts only)

  • 20-year local property tax exemption for PV systems providing primary or auxiliary power to a taxable property. Exemption does not apply to “virtual net-metered systems”.
  • Sales Tax exemption on Solar PV system components
  • Excise Tax deduction in lieu of depreciation deduction

Contact us for a more detailed description of these tax benefits. Note that 621 Energy is not an accounting firm or expert in tax matters and you should consult a tax professional.