Unsure about taking the plunge with solar energy for your home? The Federal Government has extended the federal solar tax credit for home owner solar panel installations through 2021. This means that you can deduct 30% of your installation costs from your federal taxes that year.
Basically, the Federal Government is giving you a 30% discount on saving on your energy bill with solar power. Thanks to this tax credit, the average home owner saved almost $9,000 in 2015.
Don’t have enough tax liability to claim the credit? No problem! The credit can be “rolled over” to the next tax year, making the decision to install solar panels on your home not only a smart decision, but a money saving one as well.
Depending on how large your roof is and how much sunlight you typically get, you can see a steep reduction in your electric bill, if not completely eliminating it all together. An average home sees savings of between $500 and $2,300 per year after their installation, meaning that your system pays for itself within only a couple of years.
Over the lifetime of your solar panel system (25-30 years), you’ll offset 178 tons of carbon dioxide production and emissions. To do that without installing a solar panel system, you would have to plant more than 10 football fields of trees.
On average, you can add $4 per square foot to the value of your home just by installing solar panels.
Federal tax credits are available for home owners who install solar panel systems. You can deduct 30% of the cost of your system from your federal taxes, and even roll it over to the next year if your tax liability isn’t large enough.
Dependence on foreign fuel sources, inflation, and the rising cost of fuel also raise electrical bills. Feel the security of knowing that your energy bill will be consistently low every month with a solar energy system.
Sun Dollar Energy redefines your relationship with energy. Save money. Minimize your carbon footprint. Take control of your power costs today!