Changes to Solar Tax Credits
On June 19, 2015, House Bill (HB) 779 was signed by the governor and became law. This means:
- Systems installed after July 1, 2015 will be eligible for up to $10,000 in tax credits, $2,500 less than the previous $12,500.
- Over the next three years, there is a total of $25 million dollars allocated for solar tax credits—$10 million dollars annually for the 2016 and 2017 fiscal years with $5 million dollars remaining in the 2018 fiscal year.
- However, if the total of filed claims exceeds the designated amount of money allowed for one fiscal year, existing claims will be granted from the next fiscal yearcredit, until the $25 million dollar limit is reached.
- 2018’s $5 million dollars will is available for all the remaining claims, but if there are more claims than funds, claims will be dispersed pro-rata.
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