Mississippi Solar Tax Credit

Learn how easy it is to make the switch to solar energy in Mississippi with the support of the Solar Investment Tax Credit. Curious about how it works? Explore this simple guide to securing the Solar Tax Credit in Mississippi.

What is Solar Tax Credit?

The Solar Tax Credit in Mississippi is designed to help individuals and businesses by offering a discount on the cost of solar panels. Instead of giving you a refund, it directly reduces the amount of taxes you owe.

This discount is available to those who install solar panels before December 31, 2034. After that, the discount decreases to 26% in 2033 and drops further to 22% at the beginning of 2034.

How does the Solar Tax Credit work in practice?

Let's say you spend $20,000 on solar panels for your home. With the Solar Tax Credit, you can subtract $6,000 from your tax obligation. This means you effectively pay only $14,000 in the end. Any remaining discount can be used in the following years.

How do I claim a solar tax credit in Mississippi?

Claim the Solar Tax Credit after the solar system is installed. Leased systems aren't eligible; you must own the system. The solar PV system must be installed within the United States and must be new or used for the first time. Keep the receipts — you won’t need to submit them but they might be useful if the IRS decides to do an audit...

As a homeowner, complete IRS Form 5695, attach it to your federal income tax return, and make sure your residential energy credit information is added to Schedule 3 (Form 1040). File your tax return by the applicable deadline, typically April 15, which is National Tax Day in the US.

Need help? Follow our guide!

We cover filling out the forms for claiming ITC step by step

Step-by-step guide

Benefits of the Mississippi Solar Tax Credit

Solar Tax Credit applies to not just panels but to all the other equipment as well, mounting, shipping, and the work. There's no limit to how much you can get back — at least for homeowners. Mississippi also offers other ways to ease your switch to solar energy. Check out our guide on Mississippi solar incentives for more details.

Andrey Gorichenski
Senior Editor

Andrey had been a news editor and freelance writer for a number of medias before joining A1SolarStore team. Climate change and its impact on people's lives has always been among his interests and it partially explains his degree in Philosophy and Ethics.

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