For homeowners, there has never been a better time to consider solar energy for your home. In addition to the benefits of contributing to a cleaner earth and the protection of our plant, there is a HUGE financial benefit that all US and global homeowners can take advantage of.
For starters the Clean Energy Federal Tax credit has been increased and extended to 30% for the next decade. That means that if you pay taxes you will receive up to 30% of the total cost of solar back to you. As always I am not a tax professional or accountant so I recommend speaking to your advisor about the particular tax ramifications for your situation.
On the surface, switching from paying your regional utility to making payments on a home improvement obviously makes sense. Not just because you will more than likely lower your monthly energy expenditure by anywhere from 10%-50%, but because you use that money towards an asset that you own. An asset that increases the value of your home and reduces your energy dependance. YOU ARE USING MONEY YOU RECEIVED NO RETURN ON AND INSTEAD INVESTING IT INTO YOUR HOMES VALUE!?! It is for this reason that I consider solar to be the ultimate IQ test for the intelligent homeowner.
Besides the federal tax credit for solar, there are so many others that vary state by state. If you have a trustworthy solar professional working with you, they will help you ensure that all available incentives are in place. However, even the best solar consultant can overlook something and so I compiled this list of resources for you to ensure you received everything you are entitled to.
Incentives whether at the national level, regional level, or state level can also help reduce the cost of solar. There is no guarantee that there are available incentives, but everyone should always do research into any potential savings. The following websites can provide valuable resources to potential tax savings:
- US Department of Energy (energy.gov): Here you can read articles about ways to reduce your electric bill and information about potential renewable energy sources. While this book focuses on solar production, there are many other ways to produce power that the average homeowner might consider. At the top of the page, there is a simple search bar that can provide information about things like “Clean Energy Tax Credits”.
- N.C. Clean Energy Technology Center at N.C. State University (dsireusa.org): DSIRE allows you to search by any zip code (not just North Carolina) and discover any potential incentives available in your region or state. This is the most comprehensive list available, but you will need to carefully read each incentive for potential viability. Some incentives are for corporations, special groups or certain states. There are tax credits, loan programs, grant programs and rebates, all listed and organized. If you apply a filter to the search criteria, you can ensure that what you see meets your unique situation.
If you want all the links consolidated in one place, visit: jonnelsen.com.
However you decide to access the incentives list, just make sure you do so you don’t miss out on valuable opportunities that could save you THOUSANDS.
Let's discuss your energy goals and find out if solar makes sense for you with a short virtual meeting.
Homeowners:
- Solar for $0 down
- Save up to 50% on your energy bills
- Increase your home value
- Get clean renewable energy
- Get a 30-year warranty
- Customized proposal and best value
Let's talk about going solar!
Jon Nelsen | Solar Consultant
jonnelsen.com
717-639-3544
