Tip of the Week

Before we all head out for spring break, we have to finish our taxes. Here is some good news to make that easier. In 2015 Congress extended the solar tax credit. The federal solar tax credit, also known as the investment tax credit (ITC), allows you to deduct 30 percent of the cost of installing a solar energy system from your federal taxes. The ITC applies to both residential and commercial systems, and there is no cap on its value. For the tax years of 2016-2019, you’ll be able to deduct 30% of the cost, so if you did not install solar last year but are considering it this year, this gives you more incentive. For 2020 and 2021, the deduction goes down to 26% and 22%. Colorado is a leading state for solar power initiatives, financing and implementation. .In addition to the utility incentive programs offered in Colorado, the state offers property and sales tax exemptions (more information at http://www.seia.org/state-solar-policy/colorado). Sustainable Crested Butte encourages everyone to “Be the Change”.