Calculator Mode
Select the year your solar system was or will be installed
Select the appropriate calculation method for your situation
Customer Information
Toggle to optionally include customer contact information in the PDF
Tax Information
Adjusted Gross Income including W2, 1099, dividends, etc.
Select your tax filing status
Qualifying children or dependents for tax credits
$
Annual Social Security benefits received
Annual disability benefits received
System Information
Own: financed purchase, Lease: solar lease, Cash: upfront payment
Initial cost, does not include roofs unless solar tiles ℹ️
This is the total cost of your solar panel system before any incentives
Starting amount before credits or escalations
Apply 2.90% annual increase to monthly payments (common with solar loans)
Number of years financed or leased
Options
Choose between standard 5-year MACRS or 100% bonus depreciation (2025 only)
Do you have (or are you expecting to put in place) an interconnection agreement and are you willing to treat this as a business?
Solar Investment Tax Credit (ITC)
Do the panels qualify for domestic content bonus (made in the USA)?
Are you installing the panels at a location that falls within an energy community?
Select your state for local incentive calculations
Automatically calculated based on state selection
$0
Additional state-specific tax credit amount
Tax Summary
From tax information above
$0
From tax information above
Not selected
Estimated Tax Savings
Total Lifetime Savings
$0
Your Marginal Tax Rate: 0%
Important Disclaimer: Tax savings are estimated based on the information provided, and the maximum credits and depreciation allowed per year. Actual tax savings and the timing of savings will vary depending on your final taxes and income available to deduct from. In some instances, the allowed deductions and credits may be carried forward to future years.
Annual Tax Benefits Timeline
Total Summary
Tax Credits & Depreciation Recovery
Tax Credits Received
$0
Depreciation Benefits
$0
Total Recovery: $0
Credits spread over 20 years • Depreciation over 5 years
Note: This summary includes only tax credits and depreciation benefits. Interest/escalator deductions continue annually for the full 20-year loan term and are not included in this total.
⚠ Unused Tax Credits
$0
May need additional tax liability or extended carryforward period

Copyright © Midas Wealth. All Rights Reserved.

This estimator is for informational purposes only and provides estimated potential tax credits for residential solar photovoltaics (PV). It does not constitute professional tax advice or other professional guidance and may change based on additional guidance from the Treasury Department. Consult the U.S. Department of Energy's Homeowner's Guide to the Federal Tax Credit for Solar Photovoltaics and other IRS Publications for professional advice and additional information. When an electric utility or other buyer provides cash or another incentive in exchange for renewable energy certificates or other environmental attributes of the electricity generated (either upfront or over time), the payment likely is considered taxable income thereby increasing your gross income.