Introduction
Investing in a solar system from Revolution Solar offers not just energy cost savings and environmental benefits, but also financial incentives through various solar energy tax credits and incentives. Here's a guide to help you navigate these advantages.
Federal Solar Investment Tax Credit (ITC)
Federal Solar Investment Tax Credit (ITC)
The Federal ITC allows you to deduct a portion of your solar system costs from your federal taxes. The percentage you can deduct varies from year to year, so it's best to consult with a tax professional or the IRS website for the most current information.
State and Local Incentives
State and Local Incentives
Many states and local governments also offer their own solar incentives. These may include property tax exemptions, sales tax exemptions, and cash rebates. The Database of State Incentives for Renewables & Efficiency (DSIRE) is a good resource for information about incentives in your area.
Solar Renewable Energy Certificates (SRECs)
Solar Renewable Energy Certificates (SRECs)
In some states, you can earn SRECs for the electricity your solar system generates. These certificates can be sold, providing an additional income stream.
Net Metering
Net Metering
Net metering allows you to sell excess electricity generated by your solar system back to the grid. This can offset your electricity costs and even result in a credit on your utility bill.
Conclusion
Conclusion
With these various tax credits and incentives, solar energy from your Revolution Solar system becomes an even more appealing investment. Remember to consult with a solar professional or tax advisor to understand all the benefits available to you in your specific location.
Frequently Asked Questions (FAQs)
Frequently Asked Questions (FAQs)