The investment tax credit (ITC), also known as the federal solar tax credit, allows you to deduct 26 percent of the cost of installing a solar energy system from your federal taxes. The ITC applies to both residential and commercial systems, and there is no cap on its value. The average EnergySage Marketplace shopper saves nearly $9,000 on the cost of going solar as a result of the ITC. Curious as to how much you can save on solar? Read our article for more information based on your unique energy needs.
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Should I go solar now or wait?
For those asking themselves “should I go solar”, the cost of solar installation continues to fall. According to data from the EnergySage Marketplace, installing a residential solar energy system costs almost 13 percent less than it did just five years ago, which is great news for today’s solar shoppers. But the ever-decreasing costs of solar create a conundrum: should I go solar now or wait? For many, daily headlines that declare lower and lower prices can stir them to action. For others though, these same headlines can cause them to wait a few more years in hopes of saving even more money. So who’s right?
Continue readingWhat will a 10,000 Watt (10 kW) solar system cost in your state?
10kW solar systems are among the most popular solar energy system sizes in the country, producing enough electricity to power a home with slightly above-average electricity consumption. How much does a 10kW solar system cost? How much electricity will a 10kW solar system produce? How do you know you’re getting the best deal on a system? These are some of the key questions we will answer in this article.
Continue readingThe Solar Futures Study: how we can get to 45 percent solar electricity by 2050
On September 8, 2021, President Biden made a big announcement for the solar industry: solar has the potential to power 40 percent of U.S. electricity by 2035, and 45 percent by 2050 – an increase of over 1,000 percent from where it stands today. Produced by the U.S. Department of Energy (DOE) Solar Technologies Office (SETO) and the National Renewable Energy Laboratory (NREL), the Solar Futures Study served as the basis for Biden’s announcement, explaining the role that solar will need to play in decarbonizing the electric grid and how we can achieve these targets in a cost-effective way. In this article, we’ll answer some of the major questions you might have about this study and what this solar transition could look like.
Continue readingQ&A with CollectiveSun
As more and more homeowners and businesses go solar, it’s important that we increase the accessibility of solar financing to reach more groups of people. For example, while nonprofits aren’t able to directly benefit from the investment tax credit (ITC) or other tax based solar incentives, there are still companies that can help them maximize their solar savings. CollectiveSun is one such company – in fact, they work exclusively with nonprofits and tax exempt organizations to help make solar more financially accessible, providing a 12 percent discount on solar on projects 50 kilowatts (kW) or greater. We sat down with CollectiveSun to learn more about their company and their financial offerings.
Continue readingThe 2021 solar tax credit for businesses
The best solar incentive is the federal investment tax credit (ITC). This is true both for home- and business owners: by providing you a credit on your taxes equal to 26 percent of the cost of your solar panel system, the ITC provides a significant benefit to anyone looking to add solar. For the most part, the business solar (and storage!) ITC works nearly exactly the same way as it does for homeowners, with a few key nuances. In this article, we’ll explain what you need to know about the ITC for businesses in 2021.
Continue readingSolar news: August 6th, 2021
In this week’s news round up, we’re discussing a proposed new federal incentive and an important update in solar financing.
Continue readingSolar incentives for businesses in 2021
It’s not just homeowners that can take advantage of the benefits of solar: commercial and industrial businesses can also participate in the clean energy revolution by installing solar–and storage!–on their properties. In fact, in many cases, the incentives for businesses to invest in solar are even better than they are for homeowners. If you are a business looking to explore your solar options, here are the key incentives to be aware of in 2021.
Continue readingSolar trends to watch in 2021
Over the past year, in the face of constant and unprecedented headwinds, ranging from COVID-19 to an unfriendly presidential administration, the solar industry has proved incredibly resilient, with home solar installations growing 7 percent in 2020. But what does 2021 have in store for solar? Will this growth continue? In this article, we look at the three areas that will determine the industry’s fortunes in the coming year: business trends, technology, and government policy.
Continue readingFirst-time homebuyer? Why solar should be your next big investment
If you just purchased your first home, first of all, congratulations! Buying a home is no small feat and immediately planning your home’s upgrades may feel overwhelming–but we’re here to help! When it comes to solar, we think it’s a great upgrade for first-time homebuyers because solar saves you money in the long run and increases your home value. We’ve laid out some key questions to answer when making the decision to go solar as a first-time homebuyer.
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