The 411 on Solar Tax Credits
On the list of needs for your home, replacing your roof is one that always seems to creep up to the top. But knowing what the current tax credits cover can save you a lot of money, and get that roof replaced for less.
Count it All: The Entire Cost of Solar Panel Installation Is Included
Going solar isn’t like buying a new microwave and plugging it in. There’s a lot of equipment to consider, from inverters, to mounting, to wiring, and even a battery if you want to store your energy to power your home during off-hours.
On top of that, the umbrella of costs includes permit fees, inspection costs, and even eligible sales taxes.
The good news is that the 30% Investment Tax Credit covers all of these costs! That means, the entire bill is added up, and then 30% is credited back to you, not just the panels themselves.
The Credit Includes Roofing!
Your roof counts too! To maximize your tax savings, we will help you to ensure that when you replace your roof and go solar, you receive a 30% tax credit.
The credit states that roof-mounted solar panels need a durable and sturdy roof. If your solar installer (us!) says you can’t install panels without replacing the roof, the IRS suggests that this cost will count as part of the 30% tax credit.
The tax language is a little vague on this issue, so make sure to consult your accountant, but if your roof is in need of structural repairs, or is past due on a replacement, then going solar might save you much more than you had anticipated.
If you’re interested in getting a new roof AND replacing your power bill with a lower and FIXED rate, then contact us for more details!