Whether you receive a W-2 or 1099 form from your employer, if you file income taxes via Form 1040 like most people, you will likely qualify for this amazing incentive tax credit. If your solar system costs $30,000, you are able to deduct $9,000 from your federal tax obligation. It also carries forward up to 5 years in case you need to apply it on future tax returns.
Everyone's tax situation is unique, so it's best to confirm with your tax professional. Here are some forms and guides to help you that only take a few minutes to fill out.
HOMEOWNERS GUIDE TO SOLAR TAX CREDIT
Utilities are legally assisted to make a profit. The Public Service Commission, a five person politically appointed board, approves all rate increases. This ensures utilities will make anywhere from 9%-12% profit on capital investments and pass any operational cost increases along to their customers.
Among many reasons, utilities raise prices when fossil fuel prices increase, if infrastructure improvements are needed, for storm proofing or repair of the energy grid, for building or dismantling power plants, to pay for failed customer funded projects, to recoup under-recovered fuel costs, or when customers leave en masse to go solar.
Going solar lets you escape the volatility of the many forces beyond your control and the inevitability of the next price increase. Solar lets you lock in and lower your electricity rate for decades to come.
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No. Solar saves you 10's of thousands of dollars compared to your utility. Most solar panels will last longer than 25 years, resulting in more savings. Your utility will charge you an extra 15% or more if you use more than 1,000 kWh/mnth. It's one of the only businesses that penalizes the customer for buying in bulk.
Utilities charge you more for electricity than solar, your home does not increase in value, they do not provide a 30% tax credit, and you will never own your energy production; you will only lease it at higher and higher rates ad infinitum. Utilities burn fossil fuels to generate electricity, which is much worse for the environment. Now that sounds like the scam to me!
Utilities are also fighting to make sure you don't choose the cheaper and greener power option, because they know it's the more economical and environmentally friendly choice. Once people understand this, the utilities know they will lose the battle of ideas to solar energy.
A solar system is a hedge against energy price inflation. Put simply, electricity is electricity; if you have to purchase it, then you may as well get the best deal for it. Lock in your low rate now so you don't have to pay increased rates in the future.
Even financial investment companies are recommending solar energy because the panels pay for themselves. Why pay thousands of dollars to your utility each year to lease your electricity? That money could be used to invest in a solar system that will generate your electricity for decades to come.
In Florida, we use more than 4x the U.S. home average amount of electricity to cool our homes. A typical FL home energy usage breaks down as follows:
Heating/Cooling: 36%
Water Heating: 14%
Appliances/Lighting: 50%
Top Energy Using Appliances:
Atmospheric Lifetime (AL) is a concept that measures in years how long a gas remains in the atmosphere before it is broken down by natural processes.
Global Warming Potential (GWP) is a measure of the ability of each gas to absorb and radiate energy as compared to CO2 as a baseline. So a value of 25, means that a gas is 25x more potent at retaining heat by mass than an equivalent amount of CO2.
Looked at in tandem, these two factors can help determine the degree to which each gas contributes to the greenhouse effect with respect to time and intensity.
CARBON DIOXIDE-
AL: 300+ YRS
GWP: 1
METHANE-
AL: 12 YRS
GWP: 25
NITROUS OXIDE-
AL: 121 YRS
GWP: 265
CHLOROFLUOROCARBON-
AL: 100 YRS
GWP: 10,200
HYDROFLUOROCARBON-
AL: 222 YRS
GWP: 12,400
As you can see, 1 pound of methane contributes the same amount of warming as 25 pounds of CO2, but only for 12 years until it disappears. But the 25 pounds of CO2 will stay in the atmosphere for over 300 years.
Decisions we make today regarding our CO2 output will impact the next 12 generations of our families. This is why being responsible for our choices today is so important to the longevity and quality of life for our species.
It is incumbent upon us to act as responsible stewards of the earth if for no other reason than the preservation of our own lineage. Human behavior is also playing a major role in the longevity of countless other species on our planet.
25 YEAR ROOF GUARANTEE
In the event of any issues associated with the installation of your solar PV system, your solar roof penetrations are guaranteed for 25 years ensuring a quick and painless addressing of any issues. The installer takes pride in the work they do and have an unshakable dedication to customer satisfaction after solar install.
25 YEAR SYSTEM MONITORING
Continuous over the web monitoring of the system performance and function for a period of three hundred months or (25 years) following completion of the installation. Maintenance includes but is not limited to: system troubleshooting, recalls, system repair and any upgrades or improvements specifically called for by manufacturers of installed equipment.
25 YEAR MANUFACTURER WARRANTY
Solar PV modules, inverters and balance of systems items carry their own manufacturer’s warranty in which the manufacturer is to uphold for their respective warranty periods.
No. The Federal Incentive Tax Credit applies to your solar components while your new roof qualifies as merely a home improvement. Traditional roof materials and structural components that serve only a roofing or structural function do not qualify for the credit. However, some solar roofing tiles and solar roofing shingles serve both the functions of solar electric generation and structural support and such items may qualify for the tax credit.
I.R.C. § 25D(d)(2) Qualified Solar Electric Property Expenditure — The term “qualified solar electric property expenditure” means an expenditure for property which uses solar energy to generate electricity for use in a dwelling unit located in the United States and used as a residence by the taxpayer.
The following expenses are eligible for the 30% tax credit:
YES. Florida Statute 163.04 prohibits any homeowner association from denying you the ability to generate your own electricity via a solar system. They can restrict where you put your solar panels, so long as the system performance does not suffer as a result.
Check out your solar rights with this fancy pamphlet. Homeowners also have legal recourse to make sure that their panels get enough exposure to the sun, see Florida Statute 704.07. Similar protections are available for condos via House Bill 697.
Yes. We have partnered with 7 different lending institutions to provide a wide variety of competitive rates with terms ranging from 7 to 25 years. In total we offer more than 75 different loan options and 2 leasing options. You can also provide your own financing if you have a preferred lender.
Realistically, 2-3 months. Since it involves permits from the county and cooperation from your utility, these can create bottlenecks along the way. Trust me, it's worth the wait.
Yes. Solar panels are composed of the following materials:
Glass: 76%
Plastic: 10%
Aluminum: 8%
Silicon: 5%
Metals: 1%
The International Renewable Energy Agency predicts that by 2050 the solar panel recycling industry will be worth $15 billion dollars and recoup enough recycled materials to make an additional 2 billion panels. As the solar panel recycling market grows, more businesses like SolarCycle will be created to meet the solar panel recycling demand.
Solar panels can also be repurposed. Homes in many countries around the world use significantly less energy than most U.S. homes. When solar panels no longer produce enough energy for their original homes, they can be donated to a charity that repurposes decommissioned panels. In this way used solar panels can still provide plenty of electricity for a home in another part of the world where their annual household electricity demand is much less.
Yes. The buyer simply needs to have a sufficient credit score, just like you did when you purchased the system. The paperwork can all be done with the loan company before closing.
Since your loan payment is less than the utility payment would be, most buyers easily recognize the value a solar system adds to the home and are happy to take over the remaining loan terms.
Yes. This is one of the many benefits that going solar provides to homeowners. To make sure you get an accurate appraisal if you sell your home, request that the appraiser be experienced valuing solar homes. Here is a list of appraisers nationwide who have additional training in evaluating the value of solar homes. You can even download the Solar Home Appraisal Form here. Be sure to provide the following information to your realtor:
Solar panels that are leased from or owned by a third party under a power purchase agreement or other similar arrangement are considered personal property items and are not included in the appraised value of the home.
If a homeowner owns their solar panels, the lender treats them as real property, that is, as part of the home — which means they can be valued in the appraisal. However, if the system is financed, and the lender secured the loan with a UCC-1 filing, the appraiser is required to consider the system as personal property — which means they can’t be valued, at least as long as the lien is in effect.
Luckily, all of our lenders understand this and will temporarily remove the UCC-1 lien during a home appraisal and sale as well as during a refinancing. This allows the homeowner to get the maximum appraised value for their solar system during these transitional periods so it adds to the overall home equity.
No. Financing is done through a secured loan. This means the loan is backed solely by the value of your solar system as collateral. Your home is not subject to any lien through the financing company.
1) BREAKING BOUNDARIES:
Netflix/ 2021/ 73 mins
David Attenborough and scientist Johan Rockström examine Earth's biodiversity and issues related to nature, climate change, and the future of humanity.
2) CHASING CORAL:
Netflix/ 2017/ 93 mins
Coral reefs around the world are vanishing at an unprecedented rate. Divers, photographers and scientists set out on an ocean adventure to discover why the reefs are disappearing and to reveal the underwater mystery to the world.
3) CHASING ICE:
Amazon Prime-Apple TV-Google Play/ 2012/ 76 mins
James Balog and his team on the Extreme Ice Survey assemble a multi-year chronicle of the planet's rapidly melting glaciers.
No. The phenomenon of clipping occurs when your solar panels produce more electricity than your microinverters can handle. Solar panel Wattage ratings are determined under optimum temperature and lighting conditions that are rarely experienced in the real world. For this reason, we may install a microinverter with slightly lower capacity than your solar panel with little to no impact on your solar system energy output.
If any clipping does occur, it will likely be on only a few perfect days of the year and only for a short period of time, less than a few hours. The amount of "lost" electricity production, if any, will likely only add up to a few dollars per year. This is hardly worth the cost difference it would take to upgrade to a higher capacity microinverter. Additionally, since your solar panel performance diminishes slightly over time, your panels may not be capable of clipping any electricity after only a few years anyway.
This one is bound to ruffle some feathers. ;-)
My answer is based on my experience as a potential customer of more than a dozen solar companies and as a salesperson for 4 solar companies. In short, the answer is GREED.
Energy is big business, very big. Every person on this planet is either a customer or user of energy. So, the value of this sector is astronomical. As such, thousands of companies compete in this space to make a profit.
Since most of the energy needs of our planet are met by burning finite resources known as fossil fuels, the cost of those tend to rise based on global principles of supply and demand. As supply dwindles and demand rises, prices tend to increase accordingly.
For decades, solar technology has been steadily increasing in efficiency and decreasing in cost. This means there is a larger and larger disparity between the cost of fossil fuel generated electricity and solar energy. This leaves a lot of opportunity for solar companies to put as much of that money in their coffers as they can.
Big finance also took notice of this opportunity and created new loan and lease products to help homeowners afford solar energy, while making sure it is in the big bank's interest to do so.
Enter the solar salesperson, incentivized only by commission. These folks come at you from all walks of life, often with a malfunctioning moral compass to guide them.
Between these 3 entities, there's enough vague explanation and questionable intention to go around. I call it SHADE. Some salespeople leave things out, some make things up, others only know enough about solar energy to be dangerous to your pocketbook.
This is why Sol Man has dedicated his sales approach to Taking the Shade Out of Solar. Sol Man tells you everything you need to know about solar, before you sign the contract, not afterwards. Sol Man is your solar resource, dedicated to helping you with all things solar. Sol Man is a 2-time homeowner that purchased solar panels for his FL home to save money and help the environment.
TIME magazine did a deep dive into this subject, in case you feel like jumping in. Just remember, Sol Man loathes this kind of irresponsible and predatory behavior. He is on a mission to do right by homeowners whereas others have set out to do them wrong. Buyer beware...
https://time.com/6565415/rooftop-solar-industry-collapse/
https://time.com/6337766/solar-sales-bros-door-to-door/
SOL MAN is in the business of eliminating shade in the solar sales industry.
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