Changes to Solar Tax Credits

7/1/2015

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.

If you have any questions, please contact rebecca@lses.org.