30% of your solar system may be paid by solar rebate
Simply own a Sun City Solar System and take advantage of the 30% Federal solar rebate tax credit. Not only do you lower your tax liability, you also lower your utility expenses. The Federal solar rebate tax credit is subtracted off your bottom line tax liability. To see renewable energy incentives in all states go here DSRIE.
Solar Savings Vs. Bank Savings
Compare solar with other investments you may be looking to put your money. Most solar systems sited at appropriate sites have an internal rate of return of at least 10%, this means that for every dollar that is invested in solar, you will save 10% every year that you own a system. For most people its pretty easy to see that this makes sense.
When you switch to solar, you are hedging against rising utility rates. You can lock in low, predictable electricity costs for years into the future. As utility rates continue to rise, your savings will grow every year.
Residential Solar Rebate Tax Credit
The residential solar rebate tax credit is 30% of your total solar investment for solar hot water and solar power electric. The residential tax credit may be carried forward to 2016. To be eligible for the solar tax credit, solar thermal systems must be certified by the SRCC. There is no SRCC certification required for solar electric.
Commercial Solar Rebate Tax Credit
The commercial tax credit is 30%. The commercial solar rebate tax credit can be carried forward twenty years or back one year. Your solar investment can be depreciated over 5 years on an accelerated basis. Interest on loans may also enter into the tax credit calculation under section 266 of the tax code. For a complete guide of the commercial and residential Federal tax credits, please visit www.dsireusa.org.
A tax deduction is subtracted from income before tax liability is computed. A tax credit is subtracted from the total tax liability.
Call your local office today and find out about your Solar Rebate.