Federal Tax Credit

The Federal Tax Credit will apply to the cost of the solar portion of Solar Roof as well as the cost of a Powerwall battery. The incentive amount is equivalent to a percentage of the eligible costs. The rate is currently set at 26% in 2020 and 22% in 2021. To qualify for the Federal Tax Credit in a particular year, the eligible solar equipment must be installed by December 31st of that year.

How can I estimate the portion of my Solar Roof that could receive the tax credit?

Your Solar Roof Purchase Agreement provides an estimated allocation of components that may be eligible for a tax credit. This estimated allocation is not intended as tax advice; you should discuss this allocation with a tax professional (for the purposes of IRS Form 5695) to determine the appropriate tax credit amount in your circumstance.