If you are considering making the transition to sustainable energy, now is the time to invest in solar energy. Solar energy is one of the cheapest and most efficient forms of sustainable energy. There are also great tax incentives for homeowners and businesses to make the switch to solar. As of January 1, 2020, the federal tax for solar energy is 26%, indicating you can receive a 26% tax credit on a new solar system. The solar tax credit provides many advantages and opportunities to those who want to invest in solar energy. However, the solar tax incentive will not last forever. Here is how you can learn to take full advantage of the solar tax credits while at the 26% rate.
Solar Tax Credits Do Not Have A Limit
In California, whether you are investing $10,000 or $1,000,000 in solar energy, you receive the solar tax credit at the flat 26% rate. Having a flat rate makes it perfect for businesses who want to scale up their energy production and switch to cleaner and more sustainable energy. There never seems to be any lack of sunshine in California, so making the switch to solar should be perfect for your business. Likewise, the generous rate of 26% is perfect for homeowners who want to cut back on utility costs and receive a generous tax credit in return.
The Solar Tax Credit Will Not Last Forever
Now is the time to take full advantage of the 26% federal solar tax credit, for it only lasts to the end of 2020. The federal government is slowly phasing out the solar tax credit. In 2019, the tax credit was at 30%, where it was then reduced to 26% at the beginning of 2020. In 2021, it will be further reduced to 22%. And when it gets to 2022, the solar tax credit will only be 10%. By 2023, the solar tax credit will be completely phased out of the federal government. That is why it is important for you to seize the opportunity the solar tax credit provides. Investing in solar energy today will ensure your business or home will be operating efficiently for years to come.
Join the Solar Movement
The future of solar energy is bright. Many businesses and homeowners are making the switch to solar energy everyday. And due to all of the wonderful opportunities the solar tax credit offers, now is the perfect time to make the switch to solar energy. Solar energy demands are only going to increase in the coming years. So why not join the movement now?
Whether you are a business owner, or homeowner, or both, take full advantage of the 26% solar tax credit by contacting us at Solar Optimum, where we specialize in providing the best solar energy service for all of you business or residential needs!
