Solar Training

Solar Tax Credit

Financial Assistance Is Out There

Each day, people are becoming more and more aware of the direction that switching to using renewable sources of energy will take them. With the reduction of fossil fuels, people are taking part in saving the Earth and at the same time, having some savings in the bank. However, not everyone is convinced to make that change and leave what I s comfortable for them. The phrase “What’s in it for me?” comes to mind when some are immediately turned off by seeing some labor and money needed to invest in the photovoltaic systems etc. Well, if saving on electric bills or protecting the planet isn’t enough, then knowing about Solar Tax Credits may provide that incentive to make that change.

Solar tax credit is a tangible evidence of the cooperation of the user, planet and the government. When energy saving systems which are of correct standard and energy conservation guidelines are followed properly, the user or homeowner will enjoy a rebate or tax credit of up to 30%. So not only do the people saving what they spend on electric bills, there is also something that can be claimed from one’s taxes. How can this be? Think of it as the country’s way of expressing one’s effort to saving resources and also helping out energy companies. Remember, when using photovoltaic energy some of the excess energy in one’s home can be directed into the main grid and providing power to energy companies to send to other homes.

There are of course, guidelines on how this can be possible. It is not enough that one puts a solar cell on the roof and all is well. There will be audits to make sure that the systems that have been installed are correct and that the lifestyle change is evident. An example of this is the use of solar power for water heating. In order, for example, for this to be a qualified component in the tax credit if half of the energy used to heat water is derived from the sun.

More or less goes the same for electricity on how much is used for powering the home. Simply using stored energy during blackout or power outages and reverting to the normal use of power doesn’t cut it since there isn’t much of an effort to use the technology.

Here are some basic tidbits to help get started in knowing more about solar tax credits:

  • People will be eligible for a tax credit of 30% of the amount spent for the installation Photovoltaic Systems and water heaters as long as they are of standard.
  • Not all Solar Water Heaters will qualify for the tax credit. Guidelines of getting the right one should be followed. For example, all ENERGY STAR solar water heaters qualify for the tax credit.
  • At least half of the energy generated must come from the sun.
  • The credit is not available for expenses for swimming pools or hot tubs and the water must be used in the everyday use in the home.
  • The system must be certified by the Solar Rating and Certification Corporation (SRCC).
  • The Solar Tax Credit is a good example of everyone joining hands not just to protect the Earth, but to work together in doing so. IN this movement, everyone gets something back.