Homeowners, solar companies, and industry advocates alike were given a big Christmas gift in 2015 when Congress approved the 2016 federal spending bill and extended the solar panel tax credit. The December 18 bill contained a 5-year solar tax credit extension, which makes solar more affordable for all Americans. Wondering how this impacts you? EnergySage has the answers.
If you’re considering solar, you’ve probably heard about the federal solar tax credit, also known as the Investment Tax Credit (ITC). The Federal ITC makes solar more affordable for homeowners and businesses by granting a dollar-for-dollar tax deduction equal to 30% of the total cost of a solar energy system.
What does 30% actually mean for the average solar shopper? According to EnergySage marketplace data, the average national gross cost of installing a solar panel system in 2018 is $18,840. At that price, the solar tax credit can reduce your federal tax burden by $5,652 – and that’s just one of many rebates and incentives that can reduce the cost of solar for homeowners.
There’s plenty of information out there about the value of the residential ITC, but figuring out how to actually claim the credit when it comes time to file your taxes is another story. We’ll walk you through the process step by step from Form 5695 to Form 1040.
For those asking themselves “should I go solar”, the cost of solar installation has fallen every year, and 2017 was no different. According to the Solar Energy Industries Association (SEIA), installing a residential solar energy system cost 1.6 percent less than in 2016, which is great news for today’s solar shoppers. But the ever-decreasing costs of solar create a conundrum: should I go solar now or wait? For many, daily headlines that declare lower and lower prices can stir them to action. For others though, these same headlines can cause them to wait a few more years in hopes of saving even more money. So who’s right?
In an age of global climate change, people around the world are looking for ways to reduce their share of the some 15 trillion pounds of greenhouse gases emitted each year. In the United States, one of the top three polluters in the world, many Americans are looking into home energy solutions like energy efficient upgrades and solar installations. However, for some homeowners, the first question is “what is my carbon footprint, and what are the biggest contributing factors?” In this article we’ll answer the following questions:
- What lifestyle choices influence carbon footprint?
- How do I calculate my own carbon footprint?
- What are the best ways to reduce carbon footprint?
When you think of Massachusetts, you may think of the historical city of Boston, its championship sports teams, or distinctive pronunciation of the letter “R”. Now, it’s time to add a new association to the list because Massachusetts solar incentives and programs are now considered some of the best in the country. In this article, we break down these incentives and explain why solar panels are such a great investment in Massachusetts in 2018.
Every solar company has a variation of the same sales pitch, “did you know going solar can save thousands of dollars?” They make it sound so easy, but the truth is, whether solar is a smart long-term investment for you depends on a few major factors. So before you buy into the hype, we recommend you use this simple guide to cut through the sales jargon and determine if solar panels are actually worth the money.
More and more homeowners are discovering the financial benefits of solar and installing solar energy systems on their property, but what many people don’t realize that winter is actually the best time to start shopping for solar. Here are the top five reasons why homeowners should start shopping for solar in the winter.
Establishing a secure financial future for your retirement requires that you explore a variety of options, but most homeowners don’t realize that installing a solar panel system can be one of the smartest retirement investment options available. By viewing a home solar panel system as an investment opportunity, homeowners can reduce or even eliminate their electricity bills, freeing up more than $1,000 in cash each year. With the increased availability of $0-down solar loans, homeowners that lack the cash required for an upfront purchase can still take advantage of solar as a retirement investment strategy.
Homeowners and utilities alike are choosing solar energy at a faster rate than ever before in the United States. The explosive growth of solar power is partly a result of the falling cost of solar panels. Rebates and incentives have also contributed to the United States’ biggest year ever for solar. But decreasing costs are only one of the many benefits of solar energy. You can also improve your health and protect the environment by reducing your reliance on fossil fuels and installing a solar energy system at your home or business.
With a number of similar terms in the world of renewables, many are wondering what is clean energy and what are the sources associated with it? Understanding the line between dirty energy and clean energy can be more complicated than one might think and our research shows that one of the roadblocks that discourages people from purchasing clean energy systems is the combination of too many options and too little information. To help clear the way forward for everyone, we’ve created the following simple, top-line primer to lay the foundation for learning more about clean energy options that are available to you.