Renewable energy is a hot topic of conversation these days. Solar energy is a booming industry, and it is a resource that can benefit homeowners greatly. In addition to all of the great benefits of using solar energy on your property, you can also take advantage of an outstanding federal tax credit when you schedule your solar energy system installation in Hanford, CA today.
Read on to learn a bit more about the savings available to you through this tax credit. In order to guarantee that your solar energy system not only functions properly, but meets the requirements for this tax credit, it is important to work with trained professionals. That is why you should keep our number on hand.
What Is the Solar Tax Credit?
The solar energy tax credit is a federal offering, administrated by the U.S. Internal Revenue Service. It is a personal tax credit, and it offers a 30% credit on the qualified expenditures for a solar energy system servicing the residential property of the taxpayer. There is no cap on the credit, and these expenditures include the assembly/installation of the system, labor costs for on-site preparation, and any piping or wiring necessary to interconnect the system to the home.
The tax credit for PV and solar thermal technologies has actually been extended through 2021, so you have plenty of time to take advantage of it. However, it really benefits you to do so this calendar year, as the extension also includes a gradual decrease in the tax credit value over time. You’ll get 30% back for systems installed by 12.31.2019, but those installed between 01.01.2021 and 12.31.2021, for instance, only qualify for a 22% credit. Find all of the details here.
Solar energy makes a lot of sense in our area, where sunshine is a common companion. We are happy to answer any questions that you may have regarding these tax credits or the use of solar energy in general. With our help, you can power your home in an eco-friendly and reliable manner.
Donald P. Dick Air Conditioning strives to provide honest answers and solutions to the problems our customers experience while remaining highly competitive in price, and we offer the fastest turnaround you can find!