California SB1118 offers tax credits for backup generators and solar batteries in wildfire zones.

California SB1118 introduces tax credits for qualified expenditures on backup electricity generators and solar batteries in designated wildfire zones. The credit is 50% of the expenditure, up to $5,000 for generators and $7,500 for solar batteries, per property, per year. This applies to both residential and commercial properties. The credit is effective for taxable years from 2027 to 2032, after which it is repealed. The bill also mandates annual reporting by the Franchise Tax Board on the number of credits issued and their total value.

California SB1118 offers tax credits for backup generators and solar batteries in wildfire zones.

California SB1118 introduces tax credits for qualified expenditures on backup electricity generators and solar batteries in designated wildfire zones. The credit is 50% of the expenditure, up to $5,000 for generators and $7,500 for solar batteries, per property, per year. This applies to both residential and commercial properties. The credit is effective for taxable years from 2027 to 2032, after which it is repealed. The bill also mandates annual reporting by the Franchise Tax Board on the number of credits issued and their total value.