What is a Tax Credit Phasedown?

Posted on by Ask Solar Sandy

There are currently two Tax Credit Incentives. One is for businesses and the other is for residential customers. Both are being reduced every year, like a countdown. This is called a “phasedown”.

Tax Credit reductions typically happen every January. You will want to take advantage of this opportunity and maximize your tax credit before the next reduction.

Here is a link to the information you need to know: https://www.seia.org/research-resources/residential-itc-phasedown

Please note that this information is for background informational purposes only and should not be considered tax or legal advice. For a more detailed application of these laws to your specific situation, please consult a tax professional.

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