Solar Panel Rebates & Tax Incentives

Solar Panel Rebates & Tax Incentives

Solar Contractors in Portland OR | Beaverton | Salem | Eugene Oregon

solar panel rebates and tax incentives/credits in Vancouver WA by GreenLight Solar panel contractorsIt is the best time to buy a solar energy system for the home or business. The prices of solar systems have dropped by nearly fifty percent making these solar systems more affordable today. Additional help thanks to solar panel rebates & tax incentives are offered to help families discover their dream of incorporating renewable energy into their household.

Federal Solar Tax Incentives

To encourage the use of renewable energy the federal government established the Investment Tax Credit (ITC), offering tax credit for purchasing and establishing a working solar system between the years of January 1, 2006, and December 31, 2020. These Federal ITCs are for both domestic and commercial properties. The solar ITC allows up to 30% of the cost of installation of a home solar energy system to be credited on the federal income tax return. The benefits to the environment and these Federal solar tax incentives make solar resources an appealing energy alternative.

State Electricity Production Credits

Each state has programs offering solar panel rebates & tax incentives for the purchase and use of solar power. The state in partnership with the local town utility companies offer a variety of credits for electricity production. Electricity produced by a solar powered system can earn tax incentives and solar panel rebates for a minimum of $0.15 per kilowatt hour (kWh) the system produces. If the solar system’s inverter was manufactured in the state, the return is increased to $0.18 per kWh.

Solar panels produced in the state will earn solar panel rebates of $0.36 per kWH. If both the panels and inverter are manufactured in the state, the return increases to $0.54 per kWH for up to a maximum of $5,000 a year. This production can be applied every year, and is not expected to expire until December 31.2020. Check with the state office for their programs on solar panel rebates & tax incentives for a better perspective on the savings renewable energy offers.

What Is the Eligibility Criteria for Solar Tax Credits?

  1. The property’s solar system was put into service between January 1, 2006, and December 31, 2020.
  2. Construction is completed, and the utility company has approved the connection to grid along with pre-operating tests of the new system.
  3. The system is located within the U. S. territories.
  4. The homeowner or business own the solar system and are not leasing it. Using renewable energy is not only beneficial for the environment but great for tax incentives and solar panel rebates.

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Solar Energy Contractors in OR and WA

Solar Panel Rebates & Tax Incentives in the Vancouver WA And Portland OR Areas

Energy Efficiency Contractors in Southwest Washington & Oregon:
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