Federal Tax Credit
The Federal Investment Tax Credit (ITC) will apply to the cost of the solar portion of Solar Roof as well as the cost of Powerwall. The incentive amount is equivalent to a percentage of the eligible costs. To qualify for the Federal Investment Tax Credit in a particular year, the eligible solar equipment must be installed by December 31st of that year. You should always consult your tax professional for your situation.
| Solar | For Systems Installed |
|---|---|
| 26% | 2021 |
| 30% | 2022 |
| 30% | 2023 – 2032 |
| 26% | 2033 |
| 22% | 2034 |
| 0% | 2035 |
Frequently Asked Question
How can I estimate the portion of my Solar Roof that could receive the tax credit?
Your Solar Roof Purchase Agreement provides an estimated allocation of components that may be eligible for a tax credit. This estimated allocation is not intended as tax advice; you should discuss this allocation with a tax professional (for the purposes of IRS Form 5695) to determine the appropriate tax credit amount in your circumstance.