The Inflation Reduction Act means two major things for solar power systems in Kentucky: the federal credit is now available until 2033, and the cash-back incentives available for electric vehicles (EVs) are significantly more appealing. Calculating your IRA return has never been easier with Ecowatch’s tools and support.
The federal credit was bumped back up to 30% of your solar power system value until 2031 when it will drop each year for two years and then no longer be available in 2034. The electric vehicle credit toward your tax burden has also gotten more beneficial, as it now tops out at $7,500.