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Solar Panel Incentives to Help You Save
Federal Solar Investment Tax Credit (ITC)
Our industry is growing at an annualized rate of over 30%, and the SOLAR ITC has much to do with it!
The Investment Tax Credit was enacted in 2006. It has successfully helped U.S. homeowners convert to solar and get paid. The program is so successful that the solar industry has grown by over 200%. Many people ask, "How does it work"?
Residential and Commercial property owners "investing" in solar systems may take a tax credit equal to 30% of the system cost. This is a "dollar for dollar" reduction of tax liability, not earned income! For more information about the Solar ITC and other incentives, please contact us for a detailed explanation about converting to solar.
State SREC
Many states participate in another form of subsidy for those converting to solar and are putting "clean energy" onto the grid. SREC stands for "SOLAR RENEWABLE ENERGY CREDIT." It is essentially a financial instrument created at the state level. A homeowner or business owner is given a voucher or credit for the amount of energy his/her system will produce over a given period of time. Once the proposed production is verified, the state's funding entity will send a check directly to the homeowner for the credit value. Most often, this credit is between 15%-25% of the system cost. The money is intended for solar subsidy but can be used at the owner's discretion.
For more information about incentives like SREC, please contact us. We're here to help!