SOLAR INSTALLATION SERVICES
Solar Energy is a fast growing source of power. In the last five years, it has grown in popularity. Once a solar system is installed, there will never be another electric bill for that property again.
There are several state and federal incentives for solar systems.
Rebate and Tax Credit Information
We are part of the Delaware Green Energy Program. We are an approved solar installation contractor. We are also able to offer our customers a rebate on their solar installation project. The rebate is .60/watt, up to $3500 for residential installations. Commercial installations get .60/watt up to $25,000.
FEDERAL INCENTIVES:
Federal tax incentives like the solar tax credit make solar energy cheaper and more profitable for the average homeowner. We recommend taking advantage of these credits quickly to get the most out of your investment. There is a 26% tax deduction for a solar system. Form 5695 is the form used to obtain the deduction
Anyone who pays for a solar panel installation on a home or business they own can claim the solar tax credit, as long as they have tax liability in the year of installation. What this means is, you have to owe taxes during the same year as the installation in order to qualify for the solar tax credit.
You can’t take a credit larger than the amount of taxes you owe, because the ITC is a “non-refundable” tax credit. You can, however, claim the credit over more than one year, and carry any leftover amount forward to the next year.
It’s important to note that when it comes to the residential ITC, the IRS says your system has to be “placed into service” by the end of the year to qualify for that year’s tax credit, but they don’t define “placed into service.” We’d say that’s when your system is fully interconnected and permission to operate has been granted by your utility company.
SOLAR ENERGY STORAGE:
Home solar batteries qualify for the ITC under certain conditions. IRS guidance number 201809003 specifies that battery installations for which “all energy that is used to charge the Battery can be effectively assured to come from the Solar Energy System” are eligible for the full solar tax credit.
THINGS TO THINK ABOUT
We get many questions about what kind of panels are required. It all depends upon on the following:
- The amount of electrical energy needed?
- How many panels can your roof support? If the roof is unable to support the necessary number of panels, then a ground mount system will need to be installed.
- How much sunlight does the roof get?
- Are there trees surronding your home or business?
- What is the pitch of the roof? If there are many different peaks on the roof, it is a lot harder to install the solar panels.
- Does your roof face South?
- While the initial investment is high, it pays for itself when you consider that you won’t have much of an electric bill to pay in the coming years.
- Improves the value of your residential home or commercial property.
- Helps reduce your carbon footprint.
- Tax incentives for instituting solar installation can help offset costs.
- As far as clean energy alternatives go, solar is the cheapest readily available option.
- Not ideal if you are about to move.
- Doesn’t work for every roof type—you may need a ground mount system.
- If your electric costs aren’t high to begin with, your savings will be minimal.