Incentives That Make You Smile.
There is no better time than NOW to go solar. The sooner you do, the more you’ll save. Plus, the federal Investment Tax Credit is 30% through 2032. State and local incentives, like property tax exemptions and utility-specific incentives may be available. And solar on your home increases its value, and its appeal as more and more people want the predictability and reliability it offers. Ready to turn all that sunlight into savings with energy solutions that work? It’s time to double down on your desert lifestyle.
Incentives That Make You Smile.
There is no better time than NOW to go solar. The sooner you do, the more you’ll save. Plus, the federal Investment Tax Credit is 30% through 2032. State and local incentives like property tax exemptions and utility-specific incentives may be available. And solar on your home increases its value, and its appeal as more and more people want the predictability and reliability it offers. Ready to turn all that sunlight into savings with energy solutions that work? It’s time to double down on your desert lifestyle.
The solar Investment Tax Credit (ITC) is a dollar-for-dollar reduction in the income taxes that a person or company claiming the credit would otherwise pay the federal government. The federal ITC is based on 30% of the homeowner’s cost to install solar. On leased systems, our solar partners collect this incentive and pass the savings on to the homeowner. Don’t wait; the sooner you go solar, the more you save!
*Ask your representative about which incentives you’re eligible to receive. Please consult a tax advisor on your ability to claim these nonrefundable tax credits.
As if the federal tInvestment Tax Credit wasn’t enough, there are many local state and utility incentives that homeowners may qualify for depending on their address. For example, if you add a battery, it is likely eligible for the federal Investment Tax Credit as well as a special rebate if your utility offers one. As these incentives are always changing, please consult with your energy consultant about which incentives you’re eligible to receive and your tax advisor about your ability to claim these nonrefundable credits.
Many California utility companies, including SMUD, PG&E, and SCE, offer rebates and incentives for certain energy efficiency upgrades. Depending on your utility, you could qualify for rebates for heat pumps, energy efficient appliances, certain thermostat rebates, HVAC upgrades, solar batteries, and more. Rest assured our team of Energy Consultants will help you maximize every possible incentive to save you the most now while locking in savings that last a lifetime.
The Residential Arizona Solar Tax Credit reimburses homeowners 25 percent of the cost of the solar panels, up to $1,000, right off of personal income tax in the year the system was installed. If the amount of the credit exceeds a taxpayer’s liability in the year of installation, the unused portion of the credit may be carried forward for up to five years. You might also qualify for utility specific incentives. Don’t worry, your energy consultant will make sure you don’t miss out on any perks.
In addition to offering 1-to-1 net metering, Nevada is one of few states where it pays to purchase battery storage with your solar panels. NV Energy offers an incentive for energy storage devices when paired with solar:
- For customers with time-of-use rates, the utility offers up to $3,000.
- For customers with the standard rate, the utility offers up to $1,500.
Having a residential solar energy system on your property is known as a capital improvement that adds to your property’s value. This means that you can potentially sell your home faster and for more than homes without solar. Your investment in efficient, clean solar power also adds to the tax basis of your home. If you sell the home, this tax-based investment can be deducted from the sales price, reducing the amount of the price that is counted as profit. This reduces the taxes owed from the sale and may help you avoid capital gains taxes on appreciation.
Solar adds to the value of your home, but not for property taxes. That means, in many cases, you’ll enjoy the extra value (and increased home price) of solar without adding to the property tax bill. The solar system isn’t taken into account when calculating your home’s value. Until the end of 2024, new solar installations will be subject to no additional property taxes based on their assessed value.
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