Bill > SF2017

This bill establishes a temporary income tax credit for the purchase and installation of solar energy systems, including photovoltaic devices, solar water heaters, and solar thermal systems, either alone or in combination with energy storage systems. The credit applies to systems installed on homesteads and business properties, with the credit amount ranging from 11-15% of the system's purchase and installation costs, subject to a maximum credit of $5,000 for homesteads and $20,000 per business property. The credit can be carried forward for up to 10 years if it exceeds the taxpayer's liability. The bill sets aside $2.5 million per year for homestead installations and allows any remaining funds to be used for other installations. The tax credit is effective for taxable years from 2019 to 2022.