Why You Should Get Solar Energy for Your Utah Home
Solar energy is more affordable then ever, and its the way of the future
Residential Solar Panels in Utah
“The tax credit is non-refundable and equal to 25% of the cost of the qualifying program or $2,000, whichever is less.”
The Alternative Energy Manufacturing Tax Credit is a nonrefundable tax credit worth up to 100% of new state tax revenues (including state, corporate, sales, and withholding taxes) for the duration of a manufacturing project, or 20 years, whichever comes first. The Governor's Office of Economic Development (GOED) determines the exact amount and length of an offer on a case-by-case basis.
Eligible Technologies for Residential Use
Residential installations that use solar photovoltaic (PV), wind, geothermal, hydro, biomass, or some renewable thermal technologies are eligible for the Renewable Energy Systems Tax Credit.
Solar PV Residential Tax Credit
The residential solar PV tax credit is being phased out, and the tax credit is actually estimated (installations completed in 2020). For installations on residential dwelling units, the tax credit is measured as 25% of the qualifying device cost or $1,600, whichever is less.
The maximum tax credit for installations completed in 2021 would be $1,200. The maximum tax credit in 2022 would be $800. The maximum tax credit in 2023 would be $400. There will be no tax credit available for installations made after December 31, 2023.