The 30 percent solar tax credit does not apply to non-profits, and most grants for non-profits to purchase solar are no longer operating. However, a few remain at the federal, state, and city levels. Some are even offered by your utility company. Here are a few grants for non-profits still in operation.
I’m thinking about installing solar by the end of the year, so I can get the tax credit back sooner when I file my taxes in a few months. But, I want to be sure I’m investing my money in the best way possible. Can you help me understand how solar will save me money? Does it increase the value of my home? What kind of rate of return on my investment can I expect?
Wants to Go Solar (But Still Not Sure)
When you purchase and install a solar system, you are eligible for a solar investment tax credit. This was developed to support the deployment of solar energy in the United States. Long story short, solar energy is the way to go. Here are five things to know about the big bucks you can get from Uncle Sam for installing solar power in your home.
When you invest in solar panels, you can receive a federal solar investment tax credit. We’ve been telling you that solar panels are a great investment, and the federal government agrees! Let us break down how we can help you save thousands on solar panels for your home in Cincinnati, or anywhere in Ohio, Kentucky or Indiana.
A tax credit is a dollar-for-dollar reduction in the amount of income tax you would otherwise owe. Our way of explaining it? More money you get to keep in your pocket. If you purchase and install a solar system by December 31, 2016, you are eligible to receive a 30 percent solar tax credit on your 2016 tax return. Depending on your customized solar system, this tax credit can be upwards of $10,000.