Everything You Need To Know About Tax Credits
Summer is coming, and this year is the year! You’re going to remodel your house and add some solar power to help cut down on energy costs! It’s the right move, for sure. We’re here to make sure you know all the ins and outs of solar power before you proceed, so you get the best bang for your buck!
- Way more than solar panels – There are many products that qualify for a federal tax credit, than just the huge, roof -sized solar panels. If you project budget doesn’t stretch quite that far, consider something smaller. At Heinsight Solutions, we offer solar powered skylights, solar attic fans, solar blinds, and even a solar powered night light for Sun Tunnels. All of these will help increase energy efficiency in your home, without breaking the bank
- Tax Credits – Solar powered products do a lot more than just reduce energy usage. The cost for parts and installation for solar products qualifies for a federal tax credit! Through the end of 2019 the credit is 30%. Through the end of 2020, it’s 26%, and through 2021, it’s 22%. After that, there is a possibility that the credit will go away. That means if you are planning to upgrade to solar, it is best to do it sooner rather than later!
- So Many Options – As far as skylights are concerned, your options for solar products are limitless. Fixed or manually venting skylights with solar blinds qualify for the credit; Solar powered skylights with or without blinds qualify; Sun Tunnels with solar night lights qualify! Any time there is an option to add a federal tax credit to one of our estimates, we do it!
- Know What You Will Need – In order to apply for the federal tax credit, you will need a copy of your paid invoice with the solar product (parts and labor) itemized out. You will also need a copy of your manufacturer’s certificate – this verifies that the product on the invoice is a solar product. That’s it! It’s a super simple process, as long as you have all of your documents in order.
Now that you are Solar Credit Savvy, what home improvements are you going to make this Summer?