An abundance of plans to further defeat the cost of solar panel installation

You don't have to foot the bill alone. No matter what the price or what state the homeowner lives in, everyone can collect money on the price of going solar.
The choice to go solar is more popular than ever before and there is a surplus of federal and state programs that can assist homeowners to account for the price of solar panel installations.

The solar panel installation tax credit recommended by the federal government

The most noticeable cause is that the Federal Solar Tax Credit, also identified as the investment tax credit (ITC) which authorizes you to depreciate 30 percent of the price of solar panel installations. That intends for each $10,000 paid on solar panels there is a tax abatement of $3,000. This credit applies to both residential and commercial solar systems and there is no cap on the amount that qualifies for the tax credit. This is a big reason why both business and residential solar continues to get more popular year after year. 

Solar panel installation tax credit information

When Congress found its spending bill back in 2016, the members included an enlargement of the ITC until 2022. The 30 % tax credit is also in consequence through 2019, in 2020 the credit drops to 26 percent, 22 percent in 2021, and down to a 10 percent tax deduction in 2022. So even if you don’t install solar panels this year, you can install them next year and still offset the cost by deducting 30 percent of the cost on your taxes.
 

Solar panel installations incentive programs involving other states and cities 

Even Louisiana, which is where many oil and gas companies are headquartered have 28 solar inducement programs available. All 50 states have solar inducement programs, and states that don’t have many plans still have some ready.

Individual states and cities also have inducement arrangements that offset the cost of choosing to go solar. For example, California has 212 different programs and considerations for homeowners or businesses who install solar panels, and it’s not just California.
 

Some of them are tax credits, and some of them are a division of the rate of electricity when they do need solar panel energy from the grid. The case is no matter what state you live in, there are plenty of ways to offset the cost of solar panel installations.
 

If you want to move into the future and join the solar revolution, or if you want to find out what solar panels are right for you, go to HahaSmart.com and try our price checker tool. You can see how much a system will cost, and how much you can save over the next 20 years.

For more information relating to going solar, don't forget to visit our solar blog section for more handy guides and articles.