Tax Credits and Rebates
There are some fantastic opportunities to take advantage of the Federal and State government's desire to help residential home owners invest in renewable energy sources. The Federal Tax Credit for solar energy improvements is thirty percent (30%) of the cost of the system. You may also qualify for additional State and local incentives, which means that your overall subsidy for installing a solar system approaches nearly fifty percent (50%). There are conditions and limits on these tax credits, so don't delay and contact us immediately for a free quote. There is no obligation!
Federal Tax Credits
When the Emergency Economic Stabilization Act of 2008 was passed, H.R.1424 Division B of this bill included the Energy Improvement and Extension Act of 2008. This bill extended critical Federal Investment Tax Credits for solar customers and other renewable energy projects. Funding in this bill includes over $18 billion in incentives for clean and renewable energy technologies, as well as for energy efficiency improvements.
As a part of this important legislation, the solar investment tax credit (ITC) has been extended for 8 years through December 31, 2016. Here are the key provisions of the ITC:
- The 30% federal investment tax credit for both residential and commercial solar installations is extended for 8 years through December 31, 2016.
- The bill eliminates the $2,000 cap on the tax credit for the purchase and installations of solar electric on residential properties.
- Utilities may now benefit from the credit as eligible tax credit recipients.
State of California
The state of California allows a property tax exclusion for solar systems up to 100% of the system’s value.
Regional utilities may offer solar rebate payments to homeowners based on the size of the solar power system.
Regional utilities may offer a credit on a homeowner’s bill for excess solar electricity provided to the utility but not used by the home.
- DSIRE is a comprehensive source of information on state, local, utility and federal incentives and policies that promote renewable energy and energy efficiency. Established in 1995 and funded by the U.S. Department of Energy, DSIRE is an ongoing project of the N.C. Solar Center and the Interstate Renewable Energy Council.