Tag Archives: solar itc

Solar Panels for Businesses: Does Commercial Solar Make Sense?

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Commercial solar benefits for business

If you’re a business owner, the concept of “solar panels for businesses” might seem like a risky move in a complex and confusing market. You may have heard about major Fortune 500 companies going solar, but thought that it might not be feasible for your organization. Maybe you’re considering installing solar panels at some point in the distant future, when your organization can afford to make a major investment in something that seems like an environmental “good” rather than a strategic financial decision.

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Solar tax credit – everything you need to know about the federal ITC for 2018

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federal solar tax credit itc extension

Congress has voted to extend the solar tax credit for homeowners through 2021.

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.

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2018 energy tax credits that can save you money

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2018 energy tax credits

Home energy upgrades can reduce your monthly electric bills, but they don’t always come cheap. Whether you’re interested in solar, energy efficiency, electric cars, or all of the above, there are energy tax credits available in 2018 that will make home energy upgrades easier on your wallet.

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How do I claim the solar tax credit (ITC)? Filling out form 5695

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How to Claim the Solar Tax Credit EnergySage

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.

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Should I Go Solar Now or Wait?

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should I go solar now or wait EnergySage graphic

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?

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Is Solar Energy Worth it in New York in 2018?

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new york solar energy graphic

There’s no question that New York state is headed in the right direction. Find out why now is such an exciting time for sunshine in the big apple.

Are you considering a solar energy system for your home or business in New York, but want to know more about the costs and benefits before making a decision? In this article we look at the reasons why going solar is a good idea in New York, and also examine the various incentives and financing options that may be available to you if you are a New York resident.

Looking for quality solar installers in your area? See our updated ranking for the best solar companies in the state of New York

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Are Massachusetts’ Solar Incentives the Best in the Country?

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Massachusetts solar incentives with energysage

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.

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What Will a 10,000 Watt (10 kW) Solar System Cost in Your State in 2018?

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10kW solar systems EnergySage

10kW solar systems are among the most popular solar energy system sizes in the country, producing enough electricity to power a home with slightly above-average electricity consumption. How much does a 10kW solar system cost? How much electricity will a 10kW solar system produce? How do you know you’re getting the best deal on a system? These are some of the key questions we will answer in this article.

How Much Does a 10kW Solar System Cost?

As of January 2018, the average cost of solar in the U.S. is $3.14 per watt ($31,400 for a 10 kilowatt system). That means that the total cost for a 10kW solar system would be $21,980 after the 30% Federal ITC discount (not factoring in any additional state rebates or incentives).

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Top 5 Reasons to Shop for Solar in the Winter

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solar winter

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.

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What happens if your tax liability is too small to claim the Investment Tax Credit for solar?

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investment tax credit

The Investment Tax Credit (ITC) is a generous incentive from the federal government. It was put in place to encourage uptake of solar energy and other renewable energy systems in 2006. It has been tremendously successful in this goal: the number of solar installations in the US has increased 1,600% since the ITC was introduced.

Many EnergySage customers quickly understand the potential benefits of the ITC, but have questions when it comes to the particulars of how it operates. Frequently, we field questions about whether or not they can claim the ITC at all, and when and how it can be applied to their tax bills. Continue reading