Residential renewable energy just received some major news! Congress passed and signed legislation that extends the 26% Solar Tax Credit through 2022. As a result, clean energy continues to be the leading cost-effective energy option for homeowners.
The tax credit extension arrives the same year that the International Energy Agency declared solar energy the “cheapest electricity in history.” And the credit’s extension is even better news for those worried about the tax credit phasing out after 2021.
With the bill’s passage, more homeowners and Sunpro Solar customers now have even more time to take advantage of the highest-available tax incentives offered to residents.Free Solar Quote
New Bill Extends 26% Solar Tax Credit
The newly signed legislation removes the originally established timeline for the solar tax credits. Instead of expiring at the end of 2020, the 26% solar tax credit will renew in 2021 and remain in place through 2022. After 2022, the tax credit will then drop to 22% in 2023.
To make renewable energy like solar a more attractive alternative to the traditional, non-renewable-powered electricity grid, this broad clean energy package is part of an overarching Congressional initiative.
This is an encouraging sign of things to come as more legislation is planned in the coming years that will further incentivize more homeowners to install clean, renewable energy.Free Solar Quote
How the Solar Tax Credit Works
When you install solar panels and claim the 26% solar tax credit, the credit amount comes off your income taxes during the year in which you install your solar system. And, oh yeah, it applies to the cost in addition to the state incentives already at work which means even greater savings on your switch to solar.
As an even added reason to go solar, your state may offer tax breaks of their own. Also, your local utility company may offer net metering that lets you sell your excess, unused power back to them.
Watch this helpful video to learn more about how it works:Free Solar Quote
What the Extended Solar Tax Credit Means for Homeowners
The Federal Solar Tax Credit is at its highest available rate: 26%. That means serious savings on your tax returns when it comes time to file. For another two years, the 26% federal solar tax credit presents opportunities for savings for more than just your rooftop solar panels.
The credit also applies to home battery storage like the Tesla Powerwall. With such a generous tax credit, include a battery in your system to store excess power and get even more value from your home’s solar panels.
With the extension of the 26% federal solar tax credit through 2022, there’s ample time to make the switch to solar at a tremendous price. Let Sunpro show you how to lock in the best solar panel tax credits as well as other local incentives in your area.
Switch to Solar and Save
Deals like this make green energy more cost-effective than ever. The sooner you schedule a consultation, the easier it will be to ensure an earlier solar installation and secure your 26% Federal Solar Tax Credit.
If you’re going solar next year, get prepared for everything with our definitive guide to going solar in 2021.
Go solar with Sunpro and get the best rates and offers currently offered in the home solar market. The 26% Solar Tax Credit is readily available for homeowners who qualify.
To see if you qualify, click below for a free estimate and to schedule an appointment with a solar specialist.Free Solar Quote