Federal Solar Tax Credit
Take Advantage of the Federal Solar Tax Credit Before It Disappears
If you’re a homeowner in New Mexico or Albuquerque, now is the time to take advantage of the federal solar tax credit. This powerful incentive allows you to save big on solar panel installation for your home, but it’s ending soon. With Affordable Solar, your trusted local provider, you can act now and lock in savings before the federal solar tax credit expires on December 31.
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What Is the Federal Solar Tax Credit?
The federal solar tax credit, officially known as the Investment Tax Credit, lets homeowners deduct 30% of the cost of installing rooftop solar systems from their federal taxes. That includes expenses for equipment, installation and even necessary upgrades to your electrical system. This credit was secured for a decade under the Biden administration but is now being rolled back due to recent legislative changes. If you live in New Mexico or Albuquerque, taking action today could save you thousands.
New Mexico, especially Albuquerque, is one of the sunniest states in the country, making it ideal for rooftop solar. Combine that sunshine with the federal solar tax credit, and you have a rare opportunity to install solar panels at a significantly reduced cost. Residents in this region stand to benefit more than most, like lower upfront costs, long-term savings on energy bills and reduced reliance on the grid.
How to Use the Federal Solar Tax Credit for Home Solar Panels
To qualify for the federal solar tax credit, your solar energy system must be “placed in service” by December 31. That means it must be fully installed and operational before the end of the calendar year, not just purchased. Affordable Solar can guide you through every step, from choosing the right system to complete your installation in time. The process takes time, but Affordable Solar can help get it done in time.
You’ll need to:
- Sign a contract with a certified solar installer.
- Pay for and install the system before the deadline.
- File IRS Form 5695 with your federal taxes to claim the federal solar tax credit.
Why Act Now? The Federal Solar Tax Credit Is Ending
The federal solar tax credit won’t last forever. As of July 4, President Trump signed legislation that begins to phase out clean energy incentives, including this credit. If your home solar system isn’t installed by December 31, you risk losing the full 30% tax benefit. The sooner you start your solar journey, the better chance you have of qualifying.
At Affordable Solar, we help New Mexico homeowners make the most of the federal solar tax credit. We’ve installed thousands of solar systems across Albuquerque and surrounding areas. Our team knows exactly how to streamline your project and get it completed on time.
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