How 2019's Tax Credits Lower Solar Power Fees by 30%
Posted by Hamza on October 23rd, 2019
Any individual investing in Solar Power in 2019 is set to profit from a 30% federal tax credit. But sadly, 2019 is the final year and the last chance to make those savings. If you've been looking into investing in solar, there has never been a better time to get set up than now!
Solar power property owners could effectively earn a 30% discount. Solar power pros are estimating, on average, an enormous ,500 saving. It's unlikely we'll see such a chance again, with tax credit reductions decreasing to 0% over the next few years.
Solar power systems are becoming more and more popular, due to the savings made and the environmentally friendly impacts. The 30% tax credit has boosted solar installations throughout the country as property owners take advantage of the huge financial benefits.
Is There Sufficient Time To be Qualified for the 30% Federal Tax Credit?
If you act quickly, yes. But to be qualified for the tax credits the set up will have to start within 2019 - so act soon!
The best solar power companies will be able to work fast and ensure setup is at least started in 2019. This will make you eligible for those tax credits. These solar companies are often very educated on the savings and financing side of the job. They may even offer a solar financing service to guarantee you make the quickest return from your investment.
In most residential cases, a solar installation can be as quick as two days. It's worth calling your local solar power company to see how they can help you with that 2020 deadline coming fast.
What are Solar Energy Tax Credits?
Federal solar tax credits allow property owners to deduct up to 30% of the cost of the solar installation in the U.S. Whether it's a business or residential property, there is no limit to the value of a system which eligible. It's a terrific chance to make savings for solar energy owners, big and small. 2019 has seen a 30% tax credit extended until the end of the year. Over the next few years, the tax credit percentage will diminish to 0%.
Just How Much Can I Save Using Solar Energy Tax Credits?
Solar power owners can effectively earn a 30% reduction on a solar power installation in 2019 thanks to the federal solar tax credits, regardless of how much the system costs.
For example, if your solar power set up costs ,000, then you can receive a 30% tax credit of ,000. This is proving hugely popular for Clearwater solar power and St. Petersburg solar power investors, with vast savings being made for all.
Federal Tax Credits Can Help Minimize the Costs of:
A Concise History of Solar Energy Tax Credits
In 2005 the EPA established the 'Energy Policy Act.' This featured a solar tax credit that was set to conclude in 2007. But due to its popularity and boost for the solar industry, it has been extended for over a decade. In 2019, home and business owners have one last opportunity to make record savings.
What are the Criteria to be Qualified?
Solar power owners must be mindful of the following to ensure they are eligible for the 30% tax credit reduction:
How Do I Claim the 30% Solar Energy Tax Credit?
When filing your 2019 tax return, you will:
Is Energy Storage Qualified for Tax Credits?
Energy storage systems are qualified, but only if they are combined with photovoltaic arrays or other renewable energy systems that are eligible under the incentive. This means you can't receive tax credits for a storage system alone. It must be part of a full solar system.
How to Identify the Best "Solar Power Provider near Me"
Local solar power companies are easy to find, but the best have certain stand-out services and promises. Once you start searching, make sure they are:
If you want that federal tax credit reduction of a whopping 30%, then act today! With huge savings to be made, there is no reason to delay. Don't spend 2020 regretting it, contact your local solar power company today.
If you live in Florida near the Tampa Bay, St. Petersburg or Clearwater area, be sure to ask about Florida Power Services "The Solar Power Company". Florida Power Services has been named as the top-rated St. Petersburg Solar Power Company for over 17 years. Their Clearwater solar installation team has received countless awards of excellence for quality and customer satisfaction provided. Florida Power Services "The Solar Power Company" has three convenient locations to better serve you.
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About the AuthorHamza
Joined: August 12th, 2017
Articles Posted: 14
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