Save On Your Taxes by Going Solar
Let us help you take advantage of state and federal tax rebate programs to lower your tax bill to Uncle Sam!
How can solar lower my tax bill?
Solar energy is one of the most renewable and environmentally friendly sources of energy on the planet. It is also a technology that has been rapidly advancing in recent years. As a result, solar power has become increasingly more affordable, making it an attractive form of alternative energy for many homeowners. With an ever-increasing number of people looking to reduce their carbon footprint and "go green," there are federal tax credits available to help make purchasing solar panels even more affordable. In the United States, two federal tax credit programs exist for homeowners who want to purchase solar panels for their homes: The Residential Renewable Energy Tax Credit (ITC) and The Business Renewable Energy Tax Credit (ITC). These programs have been extended through the end of 2032 by the passage of the Inflation Reduction Act
What is the solar tax credit?
If you install solar energy equipment in your residence any time this year through the end of 2032, you are entitled to a nonrefundable credit off your federal income taxes, equal to 30 percent of eligible expenses.
There’s no dollar limit on those expenses; you’re entitled to that 30 percent tax break whether you spend $20,000 or more than $100,000 on costs associated with a residential solar system.
This credit now applies also to residential battery backup systems!
What Expenses Are Eligible for the Solar Tax Credit?
According to the Department of Energy and the new law’s language, the same expenses covered under the old law are eligible for this new solar tax credit:
How much can you save with a solar panel system?
The amount you will save with a solar panel system will depend on several factors, including the amount of sunlight your area receives. Annual savings on your electricity bills can range from $50 to $15,000 per year, depending on where you live and how much electricity you use.
A good way to get a better idea of how much money you can potentially save by switching to a solar panel system is to let us calculate your run your Solar Savings Report.
The numbers will vary from year to year. But as a rule of thumb, you can expect to save at least 20-30% on your annual electricity bill if you go with a solar panel system; some customers save over 50%. Keep in mind that this does not include the money you’ll also save on your monthly electricity bill.
"I rarely write reviews but Ron deserves the credit. Solar can be confusing and after months of shopping different solar companies, my husband and I finally decided to go solar with Ron... and we're glad we did! All thanks to Ron, he made the process so easy!"
BETSY MADDOX | Irvine, CA
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Ron Brooks ‖ Solar Energy Consultant
CA HIS Registration #138132SP
Serving CA, AZ, NV, TX, CO, FL
Ron Brooks, MS | Solar Energy Consultant
Serving CA, AZ, NV, TX, CO, FL
CA HIS Registration #138132SP