Residential ITC Benefits
Residential Customers Can Now Take Advantage of
the
Investment Tax Credit and Save BIG
2024 NEW PROGRAM AVAILABLE
How the Inflation Reduction Act Can Benefit You
Understanding Income Tax Credit Rebates
Seize the opportunity of the Investment Tax Credit (ITC) for qualified homeowners to claim a tax credit on solar system expenses.
Act now to secure rates before year-end!
30%
Standard ITC Until 2023 Plus Add-On Bonuses
10%
For Project Materials Made In The USA
10%
For Energy Community Properties
20%
For Low-Income Communities
Qualifying properties are eligible for tax incentives and rebates surpassing 100% of the total project costs
Residential Sample Project
30% Standard ITC + 10% Made In USA Products + 10% Energy Community
Project Details: Roof Mounted with Rails 10KW PV Solar System
Project Total Cost: $48,000
ITC Credit Percentage: 50%
Total ITC Tax Credit: $24,000
Federal MARCS: $12,600
CA State MARCS: $4,464
Total Tax Credits: $41,064
Out of Pocket Cost: $6,936
Tax Incentives Covered: 85.55% of Project Costs
Based on Federal Tax Income Bracket of 32% & State Income Tax of 9.3%
How it Works
What is Your Tax Bracket?
Federal Income Taxes
| Tax Rate | Single | Married filing Jointly | Married filing Separately | Head of Household |
|---|---|---|---|---|
10% | $0 – $11,000 | $0 – $22,000 | $0 – $11,000 | $0 – $15,700 |
12% | $11,001 – $44,725 | $22,001 – $89,450 | $11,001 – $44,725 | $15,701 – $59,850 |
22% | $44,726 – $95,375 | $89,451 – $190,750 | $44,726 – $95,375 | $59,851 – $95,350 |
24% | $95,376 – $182,100 | $190,751 – $364,200 | $95,376 – $182,100 | $95,351 – $182,100 |
32% | $182,101 – $231,250 | $364,201 – $462,500 | $182,101 – $231,250 | $182,101 – $231,250 |
35% | $231,251 – $346,875 | $462,501 – $693,750 | $231,251 – $346,875 | $231,251 – $578,100 |
37% | $346,876 + | $693,751 + | $346,876 + | $578,101 + |
California State Income Taxes
| Tax Rate | Single/Married filing Separately |
|---|---|
1% | $0 – $10,412 |
2% | $10,413 – $24,684 |
4% | $24,685 – $36,959 |
6% | $38,960 – $54,081 |
8% | $54,082 – $68,350 |
9.3% | $68,351 – $349,137 |
10.3% | $349,138 – $418,961 |
11.3% | $418,962 – $698,271 |
12.3% | $698,272 – $999,999 |
13.3% | $1,000,000 + |
| Tax Rate | Married filing Jointly |
|---|---|
1% | $0 – $20,198 |
2% | $20,199 – $47,884 |
4% | $47,885 – $75,576 |
6% | $75,577 – $104,910 |
8% | $104,911 to $132,590 |
9.3% | $132,591 to $677,278 |
10.3% | $677,279 – $812,728 |
11.3% | $812,729 – $1,354,550 |
12.3% | $1,354,551 + |
13.3% | Mental Health Services Act |
| Tax Rate | Head of Household |
|---|---|
1% | $0 – $20,212 |
2% | $20,213 – $47,887 |
4% | $47,888 – $61,730 |
6% | $61,731 – $76,397 |
8% | $76,398 – $90,240 |
9.3% | $90,241 – $460,547 |
10.3% | $460,548 – $552,658 |
11.3% | $552,659 – $921,095 |
12.3% | $921,096 + |
13.3% | Mental Health Services Act |
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