Crist Champions Solar Energy Tax Credit for Florida Families

Washington, DC – U.S. Representative Charlie Crist (D- St. Petersburg) released the following statement on the inclusion of a ten year extension of the Solar Investment Tax Credit (ITC) in the House Ways and Means Committee’s mark of the Build Back Better Act.  A long time champion of extending the Solar ITC, Crist introduced his Sunshine Forever Act to reinstate the solar ITC at 30% and extend it through 2034.  

“I’m grateful that the Ways and Means Committee included a ten year extension of the solar tax credit in the Build Back Better Act – something I have been championing for years,” said Rep. Crist. “Solar is key in our fight against the climate crisis, and this extension will help keep solar affordable for all Floridians.”

The Solar ITC was established in 2006 to lower homeowners’ and businesses’ costs to install electricity-generating solar panels and incentivize the transition to a clean energy economy. It allows homeowners and businesses to subtract a percentage of the installation costs – currently 26% – from their federal tax liability. Since its inception, the tax credit has experienced great success – with the solar industry growing by more than 10,000%.

The Solar ITC is currently set at 26% and is scheduled to further phase-down in 2023, expiring completely in 2024 for residential properties while remaining at 10% for commercial and utility properties. The Build Back Better Act would reinstate the tax credit to the full 30% through 2031, before phasing down to 80% in 2032 and 60% in 2033.

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