Julian HawkinsJuly 25, 2018780
A multitude of ways to further overcome the price of solar
The choice to go solar is more popular than ever before and there are a plethora of federal and state programs that can assist homeowners to account for the cost of solar panel installations. You don't have to foot the bill alone. No matter what the price or what state the homeowner lives in, everyone can collect money on the price of going solar.
The prominent reason is the Federal Solar Tax Credit, also recognized as the investment tax credit (ITC) which enables you to diminish 30 percent of the price of solar panel installations. That intends for each $10,000 paid on solar panels there is a tax abatement of $3,000. This credit applies to both residential and commercial solar systems and there is no cap on the amount that qualifies for the tax credit. This is a big reason why both business and residential solar continues to get more popular year after year.
When Congress established its spending bill back in 2016, the members involved an expansion of the ITC until 2022. The 30 % tax credit is also in consequence through 2019, in 2020 the credit drops to 26 percent, 22 percent in 2021, and down to a 10 percent tax deduction in 2022. So even if you don’t install solar panels this year, you can install them next year and still offset the cost by deducting 30 percent of the cost on your taxes.
Individual states and cities also have stimulus arrangements that offset the cost of choosing to go solar. For example, California has 212 different programs and considerations for homeowners or businesses who install solar panels, and it’s not just California.
All 50 states have solar stimulus programs, and states that don’t have many plans still have some ready. Even Louisiana, which is where many oil and gas companies are headquartered have 28 solar stimulus programs available.
Some of them are tax credits, and some of them are a break on the rate of electricity when they do need energy from the grid. The point is no matter what state you live in, there are plenty of ways to offset the cost of solar panel installations.
If you want to move into the future and join the solar revolution, or if you want to find out what solar panels are right for you, go to HahaSmart.com and try our price checker tool. You can see how much a system will cost, and how much you can save over the next 20 years.
For more information relating to going solar, don't forget to visit our solar blog section for more handy guides and articles.
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