Feeling Lucky? Take Advantage of Solar Tax Credits
You can rely on more than just luck when you invest in solar energy and earn federal tax credits. As a result of the passing of the Inflation Reduction Act, all residential homeowners will receive a Residential Clean Energy Credit when they choose to install solar energy through 2034. If you go solar in 2023, you can expect a tax credit of 30% of the total installation cost.
This means that your total taxes owed at the end of the calendar year will be reduced by thousands of dollars. The tax credit incentivizes all homeowners to hop on the solar energy train. Instead of contributing to the energy crisis, power up your home without hurting the environment.
Why Does the Government Offer an Incentive?
The earth suffers from all the fossil fuels that burn daily in order to turn on the lights, keep the refrigerator cold, and bring hot water to your home. If you had a chance to use the renewable energy of the sun, wouldn’t you take it?
A solar energy investment is not easy for all families. Even though you will start to see payback on your investment immediately in the form of a highly reduced power bill, it will take time to pay off your solar panel installation.
The Residential Clean Energy Credit provides an extra incentive to choose solar energy. If you owe thousands of dollars in taxes at the end of the year, 30% of your solar installation could wipe that all out in the form of a solar tax credit.
Go Solar and Feel Good About It
Going solar is more than increasing the value of your home, staying popular with your neighbors, and cashing in on your tax credit at the end of the year. When you choose solar energy, you will feel a camaraderie with the community. Your home now takes the pressure off the grid. You will contribute to the environment by using solar energy to power your home.
New Day Solar Can Help
If you are overwhelmed with calculating solar tax credits and planning for your investment, New Day Solar is here to assist. We can walk you through the price breakdown and help you decide on your budget. If that interests you, give our pro team at New Day Solar a call for an initial estimate: (855) 444-6329.
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