Find The Incentive For You
There are several financial incentives in place that are designed to encourage homes and business to generate clean solar power. Most incentives are state specific but there is one incentive that applies nationwide.
30% Federal Tax Credit
The federal government has put forth an incredible incentive for those considering solar power. 30% of the eligible costs related to your solar project can be taken as a federal tax credit. As long as you or your business pays federal income taxes you can take advantage of this incentive.
Keep in mind this is not merely a tax deduction. Tax deductions only reduce the income on which you pay taxes. Tax credits reduce your tax, which means that every dollar of the tax credit is a dollar in your pocket.
Not only will you be selling the electricity your solar panels generate but you’ll also avoid having to buy that electricity from your power company. Net metering is a billing mechanism that credits solar energy system owners for the electricity they add to the grid.