Can You Still Get a Federal Tax Rebate For Solar Panels?
Yes! When you install solar panels on your home, you may qualify for a tax credit. State and local incentives vary, but the federal tax credit applies everywhere in the United States.
You may qualify for 30% of the total cost of your solar system. The Residential Renewable Energy Tax Credit means you can get that amount back on your 2019 federal taxes! That’s a significant amount right back to you and your family.
With tax rebates on solar panels at this rate, solar panel prices lower than ever, and additional options like smart backup battery storage, homeowners are in a better position than ever before to:
- Save money on your monthly bills
- Do good for the environment
- Gain energy independence
And while big utilities raise their rates several times each year, you can lock in your low solar rates for the next 25 years.
That means that 2019 is the best year ever for homeowners to switch to solar. But hurry – your solar panels must be installed by December 31st, 2019.
How Do I See if I Qualify for Solar Tax Rebates?
Horizon Solar Power offers lots of payment options, but not all qualify for tax rebates, and every home is different, so your best bet is to speak with an expert. It’s easy and fast to find out if you qualify for a solar system with a solar tax credit. We can help you make the smartest decision, and there’s no obligation to buy.
But there’s no time to lose – reach out to Horizon Solar Power today to see how much money installing solar panels can save you!
“Does the tax credit disappear entirely after 2019?”
Nope. Starting with your 2020 taxes, you can still get a tax rebate, although it’s only 26 percent. Then, in 2021, it goes down to 22 percent. In 2022, you’re looking at only 10 percent back on taxes when you buy a home solar system. Experts have stated that while solar prices may continue to go down, it’s unlikely that they’ll go down faster than the tax credit, meaning you wouldn’t save more money by waiting. And meanwhile, your power company’s rates will go up and up and up. So 2019 truly is the best year to go solar.
“Do I qualify for a tax rebate if I lease my solar panels?”
Again, no. The tax credit is just for those who buy their panels, either by a straight cash purchase or financing. That said, leasing your panels via a Power Purchase Agreement is also a fantastic way to save money with solar.
If you’re interested in our various solar purchase and solar lease options, you can read more here: Solar Pricing
“Isn’t it complex? How do I deal with all this paperwork?”
Don’t worry, Horizon Solar Power will handle all the paperwork for you. We have a team of experienced solar installers and experts to help guide you through the process from start to finish, including advising on your solar tax credits. We’ll make sure you get the most out of every local and national tax incentive.