The federal tax credit that pays back 30% of the cost of your system is in effect until the end of 2019; it drops to 26% in 2020 and 22% in 2021. Beginning in 2022, the credit expires for residences and drops to 10% for businesses. The federal tax credit can be taken over two years. These amounts are deducted from the amount of tax you owe (before withholding), so if you do not owe enough taxes, you may not be able to claim the full tax credit. Since nonprofit organizations do not pay income taxes, they cannot benefit from the solar tax credits.
NOTE: This information is provided as a guideline only. Consult your tax advisor for complete information applicable to your situation.