Installing this system in your home involves an investment that will pay off more or less quickly depending on different factors. But, in addition, you must bear in mind that this is a tax-deductible expense in your income tax return. This is good news!
How the personal income tax deduction for solar panels works in 2024
In Spain we are lucky enough to enjoy many hours of sunshine a year. This not only gives list of christmas island consumer email us a spectacular climate that attracts millions of tourists, but it also has an advantage in terms of energy. Because we can take advantage of all those hours of light to obtain energy through solar panels.
You may have noticed that, especially in the last year, the presence of photovoltaic panels on buildings has multiplied. They are becoming a common sight on the roofs of single-family homes and on the terraces of apartment blocks.
When you decide to cover part of your home's energy needs with solar energy, you're not only taking care of the environment and reducing your electricity bill. You're also opening the door to a deduction in the personal income tax for solar panels . Because, indeed, the Treasury allows you to deduct part of the money you have invested. With these bonuses, the aim is to continue promoting the installation and use of renewable energies.
What does the personal income tax deduction for solar panels mean?
This means that if you install photovoltaic panels in your home, you can deduct between 20% and 60% of the investment you have made from your Personal Income Tax (IRPF).
In other words, in the end the installation will be cheaper than what they will charge you. Because the Treasury will allow you to deduct part of its cost. Which means that you will pay less taxes. In addition, this deduction is in no way incompatible with other aid and subsidies that the different Administrations have in place to promote the improvement of the energy efficiency of buildings.
How do I know if I can apply for a tax relief for solar panels?
It's very easy, you just have to pay attention to the regulations, but we'll summarise them for you. If you are a natural person obliged to file personal income tax, you can apply the deduction if you have carried out works to install photovoltaic panels in a home you own before 31 December 2024.
In this case, you will apply the deduction in the 2025 Income Tax campaign. This year, in the 2024 Income Tax, the deduction can be applied by those who install solar panels in their home before December 31, 2023.
As a particularly interesting fact, keep in mind that the deduction applies whenever the property is your property. It does not matter if it is your habitual residence, a second residence, or if it is a property that you have rented to a third party.
If you are a tenant of a property and you are the one who pays for the installation of solar panels, then you are the one who can apply the deduction, not the owner.
Finally, for the tax relief to be applicable, you must prove that the work has improved the energy efficiency of your home by at least 7%. This is done through an Energy Efficiency Certificate. In order to prove the improvement in efficiency, you must have a Certificate issued before the work, and another one after, in order to be able to verify the results.
