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Financial Incentives and Savings Opportunities
Federal and state incentives can significantly reduce the cost of installing solar panels. The federal solar tax credit, known as the Investment Tax Credit (ITC), allows you to deduct 26% of the cost of installing a solar energy system from your federal taxes3. Additionally, many states offer rebates and performance-based incentives that can further enhance your savings. By leveraging these financial incentives, homeowners can often recoup their investment in solar panels within a few years.