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How Much Can You Save With Solar Tax Credit?

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By : Article Distribution    29 or more times read
Submitted 2010-04-09 00:00:00
It is more familiar to see government and states creating budget to grow the solar energy market. Fortunately they also think to help homeowners willing to install solar panel.
The aids and solutions to go to solar exist since a long time. And the reason of why prefer solar panels is known by everyone. But there is still the same problem, the lack of info. And persons are not completely inform to act. In this article we will make an overview of different helps offered to the householders who decide to install solar panels. on top of that a lot of utility companies offer rebate programs to purchase your future excess of electricity production. So you will be assist for a long time after taking your decision.

The federal solar tax credit is maybe the most known. It's completely normal because it's a powerful solution fund by the government to spread solar panels into the maximum of home in United States. And it is the most generous incentives and it reduces your solar panel installation cost significantly. With this solar tax credit, the homeowners can reduce his cost by a reduction of 30% of his solar installation cost. But even for this help there is question about how to calculate it.

The solar tax credits have to be calculate on the cost of you installation afterward deducting all States and rebates provided by utility companies you can have. Let's consider an good example, it will be more simplified.
John lives somewhere in United States and he is a homeowner and he decided to install solar panels. The total of the installation is 22,000$. Following his localization, his utility company offers a rebate of 8,000$. In this case we estimate the tax credit of 30 % on 14,000$ ( 22,000 $ -8000 $). Therefore John can get 4, 200 $ of the Federal tax credit. And So the final cost of the installation of John is 9,800 $.

And if our John has more credit than he owes in tax, he can carry it over and uses it to defray next year's federal tax bill during eight years.

The documents you will need to fill to get the solar tax credit are available on the website of the Department of Treasury IRS.

Now you know all you need about the IRS tax credit for solar panel installation. By getting more information on the others incentives available in your State and offered by the utility companies you can save up to 50% on your solar investment. To finish with this article we are going to make a short overview of the others helps provided for homeowners. For example for some States, there is rebate programs. And you receive money for each Watts you install. In most of the case the homeowners can get around 2 $ per Watt installed. It is also a good thing when you know the average size of solar panel is around 4000 Watts. Other states propose to exclude the amount of the solar system on the homeowner property tax.

Therefore invest in solar is really attractive for householders with all incentives and tax credit, and there is zero reason to private himself of all these helps.
Author Resource:- If you need more information, visit to get more details on solar tax credit.
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