If you’re still deciding and debating adding solar panels to your homes or business places, you may have heard about the federal solar tax credit.
The federal solar power tax credit is also called investment tax credit (ITC). It can be claimed on federal income taxes for a percentage of the cost of a solar photovoltaic (PV) system. The system must be placed in service during the tax year and produce electricity for businesses and homes.
The federal government offers a federal solar tax credit to subsidize a solar panel’s buying and installation costs for commercial businesses and residential homeowners throughout the United States.
Every accountant now recommends their homeowner clients to install solar panels at their rooftops. Click below to start your searching process for solar tax credit opportunities.
As we all know, solar panels absorb the radiation coming from the sun and convert the sun’s rays into electric currents. The current flow generates electricity, which further helps homeowners save their money on monthly electric bills. Also, they can reduce their carbon footprint.
The power produced by solar energy is used in the home initially, and excessive power can be fed into batteries instead of getting back to the grid. It means that homeowners can use this power during outages. Moreover, the battery backup will be quite enough and cost savings if you consider monetary losses resulting from medication, spoiled food, or when you can’t work from home.