Why 2020 Is The Time To Go Solar

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Solar gets more popular every year, and there are plenty of reasons that more and more people are going solar every day. One of the main reasons is obvious, you’ll enjoy the benefits of owning your power instead of renting it. You will also be helping protect the environment, be protected against rising energy costs, and increase the value of your home and property. Any time you go solar you’ll get these perks, but there is one important reason to choose solar energy in 2020.

The federal government has instituted a tax credit as an incentive for going solar. Homes and businesses can enjoy a 26% tax credit in 2020 after going solar! To have more than a quarter of your system cost returned to you can be lucrative for your residence or your company. The reason to go solar now is that this incentive is dropping fast. This tax credit percentage fell to 26% this year, down from 30% in 2019, and will fall another 4% next year. Then, from 2022 onward, the federal tax credit will drop and remain at just 10% for the future. To get the best return on your investment, 2020 is your year for going solar.

Now, let’s talk numbers. If you were to have a system that costs $20,000, you would be eligible for $5,200 in tax credit! In order to obtain this tax credit, work with your accountant to fill out Form 5965 to validate your renewable energy credits, and add the result to your 1040 Form. That $5,200 offsets the overall cost of the system and allows you to start seeing the financial benefits of solar even sooner. On top of that, by waiting another year to go solar, you will end up paying rising monthly payments for power. On average, there is a predicted 4% annual increase in power rates.

Even without this tax incentive, owning a solar energy system is a great way to save money. It allows you to turn a monthly, unpredictably rising expense into an investment. Instead of renting your power from your local power company, you can make the choice to own it. But to know that you’ll save that much more money is a huge reason to go Solar this year. This is your shot at getting the best possible financial return on your solar investment.

So what’s the next step? Request a free quote! One of our professionals will reach out to you to get a copy of your power bill–don’t worry about privacy, all we can do with the information on your bill is pay your monthly payment. Once we have that bill from you, we’ll design a proposal that will show what size of the system would cover your usage. From there we’ll take a look at pricing and get you all set up to start saving!

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