Solar panel subsidy

Tax Deductions: Depreciation of a solar power system can be deducted from taxable income, reducing the amount of tax you owe. Businesses can claim this as part of the Modified Accelerated Cost Recovery System (MACRS) over five years.
Investment Tax Credit (ITC): In addition to depreciation, you may also qualify for the federal Investment Tax Credit, which allows you to deduct a percentage of the installation cost of a solar power system from your federal taxes (30% in 2024).

Taxable Income: Any government subsidy or grant received for installing solar panels may be considered taxable income, which could increase your tax liability.
Subsidy Impact on ITC: The amount of the subsidy might reduce the eligible costs for claiming the ITC, as you must subtract the subsidy from the total installation cost before calculating the credit.

Always consult with a tax professional for personalized advice.
For information about solar power, check the website: Solar Power Website.