If you purchase a home solar system in the United States, you should consider the federal solar tax credit. This legislation ensures that you can save thousands of dollars on your investment, accelerating the potential return you get.
This benefit makes it so that creating a sustainable solar energy home infrastructure is more affordable than ever.
The tax credit applies directly to your solar system’s cost, including the panels, installation, and a home battery that saves the energy you collect.
The IRS offers a dollar-for-dollar reduction on your income taxes when you make this investment. It was created in 2005, and there’s no waiting for the next year to redeem the savings. A professional installer can even help you with the paperwork.
What Is the Federal Solar Tax Credit?
There’s enough sunshine that hits our planet each day to take care of our planetary energy needs for an entire year. Can you imagine what would be possible if there were enough panels available to harness this resource?
Although we can’t help everyone, we’re your premier Coral Springs solar panel installer. We can help you take advantage of the policies found in the Energy Policy Act of 2005 so that you can get your tax credit.
It’s a 26% credit that applies as long as the home solar system gets installed by the end of 2022. When 2023 comes around, your Florida home can still receive a 22% tax credit. That’s the last year it is planned to be available.
This tax incentive is a tax credit, which means it is not a refund. You won’t be getting a check with your return. What this legislation offers is a 26% credit from the final cost of your installation, including a solar power battery for the home, to let you maximize this clean energy resource.
That’s why it is one of the best investments you can make this year.
What Are the Benefits of Installing Solar Panels?
The primary benefit you receive when installing solar panels at home involves energy savings. Each property has different needs, but you’ll maximize your savings in Coral Springs since we get around 300 sunshine days each year.
In addition to the tax incentives and energy savings potential that solar panels offer, you can begin to save money from the first day your system gets activated.
Solar panels add equity to your home. If you were to install a 3.1-kilowatt system in Coral Springs, you could add nearly $20,000 of value to your home.
When you have this energy collection method installed, you can extend the roof’s life, increase your energy efficiency rate, and improve your home’s interior temperature profile.
If you install solar panels at home, you’re helping yourself, the economy, the environment, and everyone. You’ll be getting clean energy from the sun, supporting local jobs, and reducing your reliance on fossil fuels.
Would you like more information about the benefits and tax incentives of solar? If so, reach out today to start the conversation on how to improve your property.