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Federal Tax Credits

Federal Tax Credits for Solar Installation

Federal Tax Credits for Solar Installation

April 06, 2020

Back in 2005, the Energy Policy Act created incentives to promote solar energy and support our country’s transition to renewable energy. While these incentives were supposed to end in 2007, the benefits of this Act can still be felt today, especially by homeowners. Today, our team at The Solar Store is sharing what the federal tax credit is, and how you can take advantage of it for your very own solar installation.

The federal solar tax credit, also known as the investment tax credit, was built to save home and business owners on the upfront cost of solar. For 2020, solar customers of both residential and commercial properties can deduct 26% from their initial installation. This will be the last year the tax credit will be available at this percentage, as for 2021 the deduction will be reduced to 22%, and from 2022 onward there will be no tax credits available to residential customers.

You don’t need to jump through a ton of hoops to qualify for this tax credit either. As long as you own your solar energy system, you are eligible. When you file your federal tax return, speak to your accountant about form 5695, which will validate your renewable energy credits.

The Solar Store Can Save You Big

For over 60 years, The Solar Store has been providing southern Arizona exceptional value on solar services. We believe solar solutions are not only better for the environment but for your bottom line as well.

3 ways solar can save you money:

  1. The Solar Store stays up to date on current federal and state tax incentives, so we can walk you through the best way to save on installation costs, sometimes drastically cutting the upfront price.
  2. Producing your own solar energy will significantly reduce your energy bills. Those monthly savings can really add up.
  3. Solar energy systems on your property will increase the property’s value, with studies finding that properties sell faster and for more than homes with traditional energy systems.

If you’re curious about the upfront cost of installing solar for your home or business, call our team of experienced solar professionals. We will work with you to understand your property’s needs and offer you customized solutions to guarantee your solar panels are perfect.

Call our team today at (520) 322-5180, or contact our skilled team online. We offer a wide variety of solar services throughout Tucson and all of southern Arizona.

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FAQs About Solar Batteries

FAQs About Solar Batteries

April 07, 2020

How Solar Batteries Can Benefit Your Home

Across the solar industry, there has been a shift in focus to battery technology for consumers. The reasons are numerous and diverse, including improving the environment and saving money and everything in between. Having a battery as part of your solar energy system allows for additional flexibility – whether you are completely off-grid and want additional insurance, or you want to safeguard your home against rising utility prices or outages, a battery can help.

Why should I get a solar battery?

Solar batteries are the next step in energy independence for homeowners. Whether you are fully off of the grid and need backup power for a rainy day or you want to ensure that you continue to get the power you need even in the event of an outage, this system is an excellent choice.

How much power can the battery store?

Unsurprisingly, the answer is extremely broad. The amount of power it can store – and therefore how long it can continue to power your home – varies depending on the size of battery you get and what your electrical needs are. In many cases, the battery acts as a way to store surplus energy generated during the day, which can then be used at night or during cloudy days when solar energy is not as plentiful. It is generally recommended that homeowners get a system that can store around 12 hours worth of electricity. From there, other considerations can be taken into account.

How do solar batteries compare to traditional backup generators?

In general, traditional backup generators represent a smaller initial investment, but greater long-term costs for fuel and maintenance. Home batteries, on the other hand, require little to no maintenance and, in your case, only the power of the sun. These systems are silent, automatic, and clean, and provide lasting energy solutions that you can depend on long-term.

How can solar batteries save you money?

Depending on your area and your unique energy needs, there are several ways to save money. In those areas where electricity prices rise and fall during certain times of day, solar batteries can charge while electricity is cheap, then power the property when prices are at their peak. These batteries also offer the opportunity to save you even more than solar panels would on their own. Additionally, net metering is still very much an option for homes with solar batteries. It may impact the amount of electricity sent back to the grid, and therefore somewhat reduce the compensation, but the difference is usually minimal.

If you have any further questions about how a solar battery could contribute to your system, reach out to our team at The Solar Store today! Call us at (520) 322-5180 to begin.

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The State of Solar

The State of Solar

August 21, 2020

Join us as ILLUME’s Victor Mercado talks with solar industry influencers and major players to bring the latest information to you! This week, Mercado talks with owner and president of The Solar Store, Katharine Kent, about a number of topics relating to the industry’s slow and steady return to work as more and more states begin to fully reopen. These topics include the solar industry’s shift toward direct-to-consumer sales, the role of government and regulation in the solar space, and how to attract diverse talent.

iTunes and SoundCloud.

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