If you invest on the installation of solar panels, you can save a lot of money. It may fabulously increase the value of property, reduce operating cost. The most noteworthy benefit is solar tax credits which is a sort of government financial incentive. Solar energy tax credit allows the homeowner to reduce income tax to be paid to the government. This credit applies to 30% homeowner’s investment in the solar panel system. Some of the solar investment components where you get benefit include solar panels, solar system, charge converter, inverter, battery, but they are for 3 years. It is estimated that the tax credit will drop to 26% by the year 2020 and will drop to 22% by the year 2021. Only after 2021, the solar energy tax credit will get totally eliminated. If you are looking to install solar panel system, do it in the next few years. This way you can take advantage of the tax credit.
Tax credit incentive for businesses
Businesses looking to go green and embrace this reliable source of energy can quality for nearly 70% deduction with respect to solar tax incentive. Here a business qualifies for 30% tax incentive but one can still accelerate depreciation of the solar panel system in 5 short years. The tax incentive is equal to 60-70 % of the cost of solar panel installation. So, you enjoy 3-4 years of continuous energy savings. In fact, by saving on the energy cost, you will recover the investment.
Solar energy is renewable and sustainable
Santa Cruz solar is an outstanding way to save on the energy bills and staying environment friendly at the same time. Solar energy leads to zero emissions and so it is a green and eco-friendly option.
With buildings and commercial establishments accounting for 40% of carbon emission, going green and embracing solar panels is the best option. SunPower can help reduce carbon footprint. Not only can you go green and help the environment but also you may enjoy solar tax credits.
Solar Technologies is one of the Bay Area of California’s leading providers of state-of-the-art solar power systems. Since 1998 we’ve installed over 75,000 solar panels for residential, commercial, and industrial clients. To try our savings calculator and see how much you can save. To learn more or to contact us for a free solar installation quote for your home or business please visit Getting Started With Solar or Call Us (888) SOLPOWER 765-7693.