If you are considering switching to a solar energy system, it can be overwhelming to navigate through all available solar companies. When purchasing solar panels, you most likely want to find a good balance between quality service and affordability.
At Momentum Solar, we believe in offering our customers all available information so they can make an educated decision on which solar energy service provider is right for them. Here’s a breakdown of what goes into the cost of going solar!
The federal solar tax credit, also known as the investment tax credit (ITC), allows solar energy owners to deduct 26% of the cost of installing the solar system from their federal taxes. It is one of the most critical incentives for home solar power in the United States implemented by the federal government today.
The federal solar tax applies to both residential and commercial systems – every user that owns their systems, as opposed to renting them, qualifies for this deduction. This credit can be applied to personal income taxes that would otherwise be payed to the federal government.
Residential and commercial solar energy system owners can deduct 26% of the cost of installation for systems that have begun construction through 2020. The ITC then decreases as depicted by the following timetable:
- 2020 – 26%
- 2021 – 22%
- After 2021 – 10% permanently
Taxpayers will receive the most out of their tax credit if they invest in solar energy today! Solar energy is both a smart investment for your long-term financial goals and the best choice for the environment.
Rebates and Incentives
In addition to federal tax credits, customers can benefit from state, county and utility rebates. The Database of State Incentives for Renewables & Efficiency (DSIRE) has an interactive map that displays solar incentives by state.
You can also speak to a dedicated solar energy specialist at Momentum Solar to find out what incentives you may qualify for. We will happily provide you with all available rebates and incentives in your area!
Solar Financing Options
We understand that switching to solar energy is a serious investment, and we want to provide you with cleaner, price-protected energy at an affordable cost.
There are a few ways you can approach financing your solar panels. Momentum Solar offers the following flexible options to suit your needs:
- Cash Credit
- Power Purchase Agreement
Momentum Solar Can Help
Momentum Solar is one of the best energy providers nationwide. We are dedicated to supplying our customers with efficient solar energy systems that reduce your electricity bills. We handle the entire process of your solar installation from solar enrollment through customized design, engineering, permitting, installation and activation of every system – to ensure a seamless transition to renewable energy.
Our solar system installers are ready to help you achieve your energy goals! Visit momentumsolar.com or call 1-800-MOMENTUM for your free quote today.