Going solar maximizes your tax benefits and can give you a well-deserved tax break. It can also help you save money and protect the environment. Choosing to go solar doesn’t have to be hard. Connecting with a solar panel company that specializes in maximizing energy savings can help you make the most of your investment. These companies also can point you in the right direction for filling out your tax credit.
Benefits of Solar Energy
There are numerous benefits when it comes to using solar energy. Solar energy systems are one of the most effective ways to slice your energy bill and protect the environment. They are also easy to maintain and a wonderful investment for both homeowners and commercial building owners.
Sustainable and Renewable Energy Source
One of the greatest benefits of solar energy impacts the environment and the earth. Solar energy is not a type of energy that the world can ever deplete. Unlike coal, the sun is always available to us and scientists predict that humans won’t need to worry about sunlight for approximately the next 5 billion years. That’s a long time! You can do your part to protect the environment by installing solar panels as your energy source.
Energy Efficiency Saves You Money
When you use solar energy, you save money on your bills. You won’t need as much energy and you can watch your energy bill drop. Your solar panel system is likely to eliminate your electric bill completely, or at the minimum reduce it significantly.
How? No matter where you live in the world, most areas get between two to six hours of full sunlight each day. During this time, your solar panels collect energy from the sunlight and convert it into power that your home can use. Homeowners can expect to save between $1,000 and $5,000 per year!
Solar energy systems need to be maintained. With Solarimon it is 100% maintenance-free with our Exclusive Proprietary Cutting Edge “Self-Cleaning Panels”. Most manufacturers will offer warranties from 15-30 years. Because the solar system stays in one place, there won’t be any wear and tear from movement, there are no moving parts. Homeowners who want to protect their initial investment should only consider the “Self-Cleaning Panels” so they don’t have to work on cleaning the panels periodically.
The only maintenance needed is the solar panels need to stay clean. Cleaning the solar panels every six months will do the job and keep your panels in shape. However, Solarimon provides you with self-cleaning solar panels at no additional cost, which is a unique proprietary technology available only with Solarimon. This amazing technology makes the maintenance of the solar panels effortless and it increases the efficiency of the solar system to 100% of the manufactures specification all the time.
Solar Panels Have Many Uses
The sunlight that solar panels pick up can be converted into electricity or converted into heat. Solar panels can also be to help bring electricity to areas around the world that are remote. In these areas, there isn’t a nearby energy grid but solar panels can bring energy to any region. This makes it possible to help people around the world who would benefit from standard electricity applications.
Available Tax Credits for New Solar Purchases
The United States federal government has extended the available tax credits for homeowners in 2019. The investment tax credit, also known as ITC, allows homeowners and commercial business owners to deduct 30% of their installation costs for new solar energy systems. The best part about this particular tax credit is that the government decided not to cap the credit and you can deduct 30% from the entire installation cost.
The tax credit, however, varies based on the year that you install your system. In 2019, the rate is still at 30%. In 2020, the rate will lower to 26% and down to 22% in 2021. In 2022, the tax extension will fall to 10% If you are considering a solar panel system for your home, now is the time to take action. To qualify for the tax credit, simply file a report when you file your annual taxes.
Business Tax Credit
For commercial businesses, there may be an additional tax credit. The MACRS 5-year Accelerated Depreciation may be another option. Businesses should ask their tax consultant as well as their solar panel company about the possibilities of additional tax credits that can make a solar panel project even more affordable.
Solar Panel Systems are a Logical Investment
Maybe you’ve been considering a solar panel system for your home for several years but haven’t felt like the timing was right. Are you worried about the cost? Wondering if there are other home improvement projects you should tackle first? One of the best reasons to move forward with building a solar panel system in your own home is that it’s a logical investment that will not only save you money immediately but continue to save money for years to come.
Many home investment projects involve making your home more aesthetically pleasing or adding an element of entertainment but fail to act as a proper investment. Solar panel systems are a true investment that will increase the value of your home as well as save you money, year after year. Working with a solar panel company can give you an idea of the amount you will save and how soon you will recoup your initial investment.
Ready to take a step towards your own solar panel powered energy? Contact us today to learn more about our solar panels, installation practices, and how solar panels can slice your energy bills down. Don’t forget the sweet tax break!