No, the ITC is a nonrefundable credit, not a deduction, making it much more valuable. The credit directly reduces the amount of tax you owe, providing a dollar-for-dollar reduction of your tax liability. So, if the tax credit you are eligible for was equal to $10,000, this would lower the amount of taxes owed by the corresponding $10,000.
A ‘write-off’ or deduction on the other hand, reduces how much of your income is subject to taxes. Deductions can lower your taxable income by the percentage of your highest federal income tax bracket. So, if you fall into the 24% tax bracket and receive a $10,000 deduction, this will save you $2,400 on your taxes.
Commercial energy systems are eligible for additional business tax deductions (accelerated depreciation). Visit our Commercial Solar Page for more information on solar tax incentives for commercial businesses.