Having a Solar Energy System Installed Makes You Eligible for a Rebate & Tax Incentives
You probably know that going solar will help offset your energy costs, but did you know that investing in a solar energy system also makes you eligible for a federal tax credit? Claiming your solar rebate is simple, and Smart Home Innovations can help guide you through the process when you choose us to install your solar panels. Based in Kansas City, we are proud to help Missouri and Kansas home and business owners save money on energy.
About Solar Tax Incentives
The Energy Policy Act was passed in 2005 and will be in effect through at least 2021. The act allows home and business owners to receive a 30 percent federal tax credit when they have a solar energy system installed at their property. Commercial property owners are also eligible for accelerated depreciation of 85 percent of the system’s cost over five years.
What Makes You Eligible for a Solar Tax Incentive?
In order to be considered for a solar rebate, you must be the owner of the solar energy system in question. Provided that your system will be operational by December 31, 2023, you can claim your tax credit as soon as construction begins. To do so, you must fill out and submit the proper paperwork. You may also be able to receive a solar rebate for an emergency backup battery system and certain product purchases that expand your solar energy system, in addition to the system itself.
If you’re interested in learning more about the financial benefits of having solar panels installed, contact Smart Home Innovations today. We would be happy to provide a free consultation at your Metro Kansas City home or business, during which we’ll tell you more about the solar rebate and tax incentives available to you.