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This article from Greentech Media breaks down what the recent private letter from the IRS means for the affordability of home battery storage. Until now, home battery storage has been a pricey addition to a residential solar system that only a small percent of early adopters have chosen to do. This new letter states that a retrofit to an existing residential PV system of a battery, inverter, wiring and software will be subject to the 30% Investment Tax Credit (ITC) as long as it is only charged by the sun.
That makes this next year and a half an important time period for people interested in adding battery back up to their rooftop PV system! The ITC is scheduled to be reduced to 26% in 2020, 22% in 2021. After December 31st, 2021, the residential tax credit will officially end and the commercial and utility credit will drop to a permanent 10%. Read more about the ITC here.
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