Since the cost of going solar falls every year, many homeowners wonder: should I buy solar now or wait to save money on installation costs? There are many variables that influence the total financial returns you can expect to see from solar over its lifetime, all of which you should take into account when making your solar decision.
Continue readingTag Archives: solar incentives
How do I claim the solar tax credit (ITC)? Form 5695 instructions
If you’re considering solar, you’ve probably heard about the federal solar tax credit, also known as the federal Investment Tax Credit (ITC). If you have a solar system on your property, you’ve probably heard about the federal solar tax credit, also known as the federal Investment Tax Credit (ITC). The ITC makes solar more affordable for homeowners and businesses by granting a dollar-for-dollar tax deduction equal to 26% of the total cost of a solar energy system. There’s plenty of information out there about the value of the ITC, but figuring out how to actually claim the credit when it comes time to file your taxes is another story. In this article, we’ll walk you through the instructions step by step from figuring out if you’re eligible to completing Form 5695 to adding it to Schedule 3 and Form 1040.
Continue readingThe ITC was extended (again)! What you need to know in 2021
On December 21, 2020, Congress passed the omnibus spending and COVID relief bill, and on Sunday, December 27, 2020, President Trump finally signed it into law. In addition to keeping the lights on in our government and providing much needed financial relief for businesses and people alike who have been impacted by COVID, the 5,000+ page, end-of-year spending bill also provided a ray of bright light for the solar industry: an extension of the solar ITC. Here’s what you need to know about how the ITC extension impacts your solar project.
Continue readingSolar news: December 28th, 2020
In this week’s Solar News Roundup (the last of the year!), the federal government extends the solar tax credit, and the Department of Energy announces a new round of funding for grid-integrated solar.
Continue readingSRECs in Maryland: prices, projections, and program status
If you’re considering installing solar in Maryland, one incentive you should be aware of is solar renewable energy certificates (SRECs). Maryland is one of the few states that offers this performance-based incentive to people generating solar electricity. Property owners in Maryland who buy and install a solar panel system can earn hundreds of dollars each year by selling the SRECs their system generates.
Continue readingShould I pre-sell my SRECs?
There are a number of state-specific solar incentives for solar owners to take advantage of, such as tax credits and rebates. One of the most advantageous solar incentives you may be eligible for is solar renewable energy credits (SRECs).
Continue readingSolar news: May 1st, 2020
In this week’s Solar News Roundup, we talk about two solar incentive programs that are getting a boost in the Northeast: Massachusetts’ SMART program and Rhode Island’s solar brownfields incentive program.
Continue readingSolar rebates 101
There are many different types of solar incentives out there – tax credits, performance-based incentives, and solar renewable energy certificates (SRECs) to name a few. Solar rebates are some of the most common solar incentives, and some of the easiest to understand. While not available in every solar market, those who can take advantage of rebates can significantly lower the upfront cost of going solar.
In this article, we’ll give an overview of solar rebate incentives, provide sources for finding solar rebates in your area, and discuss how to apply for rebates for which you’re eligible.
Continue readingThe best EnergySage videos of 2019
Finding the right solar solution can be difficult, and there are a lot of questions to address before putting panels on your roof. To help you save time in your solar research, EnergySage created quick videos to answer the most important solar questions in under three minutes.
Continue readingSolar news: October 4th, 2019
In this week’s Solar News Roundup, LADWP votes to expand a beneficial feed-in tariff program in their service area, and the first 100% electric vehicle “gas” station opens.
Continue reading