Tax Savings

Learn about what tax savings services are available to you

  • What is the federal investment tax credit for solar?Commonly known as the Investment Tax Credit (ITC), it is one of the biggest impacts on the cost you will face to go solar in Idaho. The federal tax credit is going to be 30% till 2032.

    For Example: If your solar energy system costs $25,000, your federal solar tax credit would be $25,000 x 30% = $7,500.
    Ref: https://cesolar.com/what-we-do/residential-solar/idaho-solar-incentives/
  • Does the state of Idaho offer any rebates for solar?As of now the state of Idaho is not offering any rebates when a residential or a commercial property owner opts for solar.
  • What are the state tax deductions in Idaho?The state of Idaho does not offer a straightforward tax credit when one opts for solar rather there is a 100% tax deduction. So, during the time of installation one can avail 40% of the installation cost as a deduction in the 1st year or upto a maximum of $5,000. Then, for the next 3 years, you can deduct 20% of the cost each year from your state income for tax purposes.
  • What are the residential tax benefits for switching to solar?With the Residential Alternative Tax Deduction, you can deduct 40 percent of the cost of your solar panel equipment and installation from your personal income taxes. You can also deduct 20 percent of the cost each year for the following three years after installation. The deduction is maxed out at $5,000 per year, or $20,000 total*.
  • Are there any state incentives to install solar?The Idaho Governor's Office of Energy Resources (OER) State Energy Loan Program offers low-interest loans for homeowners installing solar panel systems. With this loan, you can borrow up to $15,000 for five years at an interest rate of 4 percent.*

    *Ref here - https://oemr.idaho.gov/loan-program/
  • What will be my incentives for net metering?Net metering gives credits to solar homeowners for the electricity that their solar panels generate. The State of Idaho does not require utilities to provide net metering to their solar customers; however, the three large utilities in the state - Avista Utilities, Idaho Power and Rocky Mountain Power - have independently decided to offer net metering programs until the PUC comes to a decision.
  • Are there any solar easement laws in Idaho?In Idaho, you can enter into a solar easement with your neighbors to ensure that you have continued access to sunshine, uninhibited by tree growth, new structures, and more. However, all solar easements are voluntary.

*Comet Energy has provided this page for informational purposes only and does not provide tax or accounting advice. Any tax information is subject to change. Please consult your own tax and accounting advisors to get information about your specific situation.