Living in sunny California is reward enough, but consider how much more rewarding it would be to get a tax credit for using the sun. By installing solar panels on your home, you can have the satisfaction of taking steps to save the environment while also decreasing your tax bill. Solar panels can be a win-win situation.
Tax Benefits and Credits for Solar Panels in East County, San Diego
The state of California is encouraging homeowners to generate power by installing solar panels by offering a monetary incentive or credit. Depending on your home type, the state has set up incentive rates according to the type of energy the solar panels are displacing. The decrease in natural gas, propane, or electricity used will determine the amount of incentive you will receive after installing a solar panel system. [Learn More About California Financial Incentives]
IRS Expands Federal Tax Credit for Residential Solar Systems
The federal government has added a tax credit through the IRS for those solar systems installed between January 1, 2009 and December 31, 2016. A substantial tax credit of up to 30% of the cost of the solar panels is available if the system meets the guidelines. Meeting the local building codes and supplying electricity to the residence will qualify for this tax credit. This tax credit is available for a primary or secondary residence.
Reduction in Electric Bills
Installing solar panels should reduce the electric bill by 25% to 50%. This varies as it depends on the amount of sunshine the area gets, the size of the residence, the size of the installed solar system, and the fluctuation of the local electricity bills according to the time of the year.
There are a few items to check out before installing your solar panel system. The roof must be able to support the panels, so it needs to be strong enough structurally and in good condition. This may add to the total cost of installation as fixing the roof is not covered when filing for the federal credit. Trees or bushes that are obstructing the sunshine will also need attention. When choosing a company to install the system, look for one with at least a twenty-year warranty, and technicians that are aware of the local permit requirements of your zoning commission.
Living in East County, San Diego (with Solar Panels)
Solar panels can help save you money on electricity and heating bills, while helping the environment. With the rising costs of energy today, using the sun as a resource makes sense. With tax credits and local incentives in East County, San Diego, solar panels are the future for energy independence.