Solar Tax Credits

With so many people worldwide going solar, you should get on board to see just why solar has taken the world by storm. Solar offers companies and homeowners the freedom to control how much power they consume and also allows for independent electricity, which means you will not be affected by any power outages. Backup power is necessary in this day and age, and if you are contributing to a greener environment, why wouldn’t you want to make the change to solar? Not only does solar give you the benefits mentioned above but there are great solar tax credits that you may be eligible for when purchasing solar.

What is the federal tax credit?

One of the benefits of switching to solar is that you will be able to claim a federal tax credit for the solar. Often we get asked what this is and how it works, and to explain, should you purchase a solar solution outright, you will be eligible to claim a credit of up to 30% on the value of the solar solution that was paid for, and there is no maximum amount that can be claimed back as tax credit. If you are planning to purchase a solar solution, and you require further information on solar tax credits, and to find out how the solar credits work, then be sure to give us a call in order for us to further assist you.

What is included? 

When it comes to solar solutions and the tax credits that you can claim, you may want to know what is included for what can be claimed back. A tax credit is calculated using the value of any solar panels, solar equipment such as mounting kits and inverters, as well as any labor costs associated with the installation of the solar solution. At Devaron Solar Company, we are committed to providing our customers with quality services and installations, and we also make sure that we provide our customers with information that allows you to make informed decisions about your new solar solution.

Is the solar tax credit refundable?

If you are eligible for a tax credit on the solar solution, the credit will be applied to any tax liabilities that you may have. Solar tax credit is a non -refundable credit, which means that it is used to offset any tax liabilities that you have incurred. If you do not have any tax liability during a specific tax year, then the credit can be carried over. The tax credit can be carried over up until 2034. If you have questions on the solar tax credit, or if you want to purchase a solar solution and find out how much credit you can qualify for, then be sure to get in touch with us and speak to our solar solutions trusted advisors.

A great investment

When making any changes to your home or commercial property, you want to know that the investment into your property will enhance and improve the value of your home, and thankfully, switching to solar will ensure that this happens. You can rest assured that when you invest in solar, you will be contributing to a highly improved home or commerce building value. Whether you are looking to make an investment into solar, or if you have further questions before you make the change to solar, count on the solar experts to be there for you every step of the way.