A solar PV system must be installed before December 31, 2020, to claim a 26% credit. It will decrease to 22% for systems installed in 2021. And the tax credit expires starting in 2022 unless Congress renews it.
There is no maximum amount that can be claimed.
How would I qualify?
-The solar PV system is located at your primary or secondary residence in the United States, or for an off-site community solar project, if the electricity generated is credited against, and does not exceed, your home’s electricity consumption.
- You own the solar PV system (i.e., you purchased it with cash or through financing but you are neither leasing nor are in an arrangement to purchase electricity generated by a system you do not own).
- The solar PV system is new or being used for the first time. The credit can only be claimed on the “original installation” of the solar equipment.