Good news for the New Year! As part of a much larger Federal Spending Bill ($1.4 trillion) the renewable energy tax credits have been extended. This will keep it at 26% until the end of 2023 which is great news. Your boat can be classed as your first home (for some) or second boat (for many) and in summary as long as it's US flagged and has a head, galley & bunk then it applies.
We're here to keep you informed of these advantages but as always please consult with your accountant or tax advisor to see if this works for you.
We have more details on our Solar Tax Credits page and over the recent years we have had many customers successfully receive the Federal Tax Credit on the total system cost - this has included solar panels, controllers, labor, batteries and even the arch to support your panels!
Here's how it used to look, the Credit was due to drop to 22% in 2021 and then to 0% (gone!) in 2022.
And this is how it's looking now, two more years at 26% and then due to drop to 22% in 2023 then 0% (gone!) in 2024.
