Adrienne SorensenOctober 29, 20182350
Government Solar Incentives Examined
For your solar dreams, rebates are here to help you and are ready for you to meet your needs. There are plenty of federal and state programs that can help homeowners offset the prices of installing panels. No matter what the price or state of origin, everyone can save money on the prices of going clean energy. In the following article, we will help you find your way to the credits, rebates, and incentives.
The federal government has also provided some incentives for solar purchasers over time. In congressional legislation recently, lawmakers included an extension of the ITC until 2022. The 30 percent tax credit is also in effect through 2019. However, this extension falls off in 2020 the credit drops to 26 percent, and lastly down to a 10 percent tax deduction in 2022. So even if you don’t install solar this year, you can install them next year and still offset the cost by deducting 30 percent of the price on your taxes. So, there is still some time to take advantage of this critical incentive and start preparing to go solar today.
There are a lot of incentives and subsidies to be found throughout our great nation for our solar customers. We have already sought out our low-price solar system. Now it's time to seek further savings. One of the most significant incentive programs to date is known as the Federal Solar Tax Credit, also known as the investment tax credit (ITC) which allows you to deduct 30 percent of the cost of panels.
That means for every $10,000 spent on solar panels there is a tax deduction of $3,000. This credit applies to both residential and commercial systems, and there is no cap on the amount that qualifies for the tax credit. With credits like this, its no wonder that more people are making the change to solar every day.
Individual states and cities also have incentive programs that offset the cost of going solar. For example, California has 212 different programs and incentives for homeowners or businesses who install panels, and it’s not just California. Solar incentive programs around the entire country are there to help you meet your financial needs.
Some of the ways they can get you to your solar dreams are through tax credits. Also, some of them are a rate break of electricity when the solar customer experiences greater urgency and does need power from the grid. The point is no matter what state you live in, and there are plenty of ways to offset the cost of installing solar.
Go Solar Now
When it comes to buying solar, a loan is a great way to get your home solar ready, going green, and all the while, saving yourself on energy costs for you and your family. As we have seen, there is a lot of movement in the solar energy market toward savings, and it is your time to be the hero.
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