LI Solar !
LI Solar is a local company based in Cape Cod. Our goal to bring renewable energy on each house and conserving natural resources. Installing Solar Panels even Battery Storage is a good investment, like get payback in 6-8 years and not only. The federal and state incentives are one of the biggest advantage.
How does it work?
A tax credit is a dollar-for-dollar reduction in the income taxes that a person or company would otherwise pay the federal government. The ITC is based on the amount of investment in solar property. Both the residential and commercial ITC are equal to 26 percent of the basis that is invested in eligible solar property. The ITC then steps down according to the following schedule:
- 26 percent for projects that begin construction in 2021 and 2022
- 22 percent for projects that begin construction in 2023
- After 2023, the residential credit drops to zero while the commercial credit drops to a permanent 10 percent
