The 2021 tax season is coming soon. Are you wondering how this year’s tax law changes will affect your finances?
There is good news on that front: For those thinking of going solar in 2021, you’ll be happy to know the new federal spending package has extended the federal investment tax credit for going solar.
The tax credit stays at 26 percent for two more years for eligible homeowners who purchase a home solar system. (The 26 percent credit also applies to commercial, industrial and utility-scale solar projects).
The solar tax credit ( known as the ITC) can be applied toward any federal taxes owed and drops to 22 percent in 2023. After that, there are no tax credits for residential solar projects, but commercial and utility projects are eligible for a 10 percent credit starting in 2024.
Reduce or eliminate your electricity bill with solar energy sooner than later — especially if you saw your utility bills increase during the pandemic. Residential electricity sales were up 8 percent in the spring of 2020 over the previous year, a historical high according to the U.S. Energy Information Administration.
Our Solar Experts Can Help You Understand Solar Financing
Don’t worry about the finances of buying solar panels. The SunPower by esaSolar experts explain the ITC, along with a variety of solar financing options that will let you see a return on your investment as quickly as possible.
We offer solar financing packages to help every homeowner save with solar regardless of their credit history or budget.
The Database of State Incentives for Renewable Energy is a fantastic resource for finding solar incentives in your area. Enter your zip code to find credits and rebates near you.
Our goal is to boost your savings with solar tax credits and other local or state incentives to help offset the cost of your solar energy system.
For more information, call us at 407-329-5487 or contact us for a free solar quote.