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Solar Solutions With Blake: Your Trusted Solar Broker
Welcome to Solar Solutions With Blake, where solar energy becomes a tailored solution for your home's needs. As your trusted solar broker, Blake is here to guide you through the seamless transition to clean, sustainable energy.
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Solar Energy Incentives
What is the Federal Investment Tax Credit or the Solar Tax Credit?
The Solar Tax Credit is a federal tax credit for solar systems you can claim on your income taxes and reduces your federal tax liability. The tax credit is calculated based on a percentage (30% until 2032) of the total cost of your solar energy system. Currently, the final day to qualify for the 30% Solar Energy Tax Credit is December 31, 2032.
The Inflation Reduction Act of 2022 extended the Federal Investment Tax credit for residential solar for 12 years until 2034. The solar tax credit will be 30% until the end of 2032 when it drops down to 26% in 2033 and then to 22% in 2034.
The Benefits of Solar
Save Money
The average homeowner saves $30,000 in a 20-year span with solar panels. In certain sunny places, that number can double.
Eco-Friendly
Homeowners can offset about 100,000 lbs. of carbon dioxide over 20 years. That’s the same as driving 100,000 miles in a car.
Tax Incentives
The Federal Solar Tax Credit means you can get nearly a third of your money back on your solar installation.
Increase Home Value
Solar panels make your home more desirable, which raises your home’s value.
Safe Investment
Manufacturers offer 20 or 25-year warranties on their solar panels — this is an investment that’s built to last.
What happens if you stick with your current electricity provider?
- Unpredictable rates
- Pay more each year
- No chance to save money
- Adds no value to your home
- Contribute to more pollution
What happens if you GO SOLAR?
- Zero 'Out of Pocket' option
- Long term savings
- Control and predictability
- Adds value to your home
- Take advantage of tax benefits
- Lower your carbon footprint
- Protect land and water resources
How much can you save on electric bills?
The most common reason homeowners decide to install solar is simply to save money. While eliminating their electric bill is not always possible, going solar allows customers to spend less money on electricity by lowering their utility bills which is possible by avoiding the cost of power that utilities charge!
Why are predictable Electric Bills better?
The previous two benefits are both financial, but they are also based on particular numbers or calculations specific to a customer. One financial benefit that is not necessarily determined by a formula is control. The value of financial control is overlooked in many ways, but in reality, this is one of the most effective selling points for solar.
How does solar increase the value of a home?
Homeowners who go solar are not just saving money, they are also investing in an asset that allows them to build equity in their home. Solar PV installations, even when financed with a PPA, become a part of the customer’s home, and each payment made towards the cost of the solar PV system creates some additional home value.
NREL Study Finds Solar Homes Sold 20% Faster and for 17% More.
According to the U.S. Department of Energy’s Office of Energy Efficiency & Renewable Energy, a home with solar panels will sell twice as fast as a home without solar panels.
The U.S. Department of Housing and Urban Development states that energy-saving improvements increase the potential resale value of your home and help it sell more quickly because they:
“Make your house more affordable to more people.”
“Attract attention in a competitive market.”
“Are improvements which will actually save money.”
How do I explain Solar Tax Credits?
The Federal Solar Investment Tax Credit is perhaps the most well-known incentive and the most important for driving the solar industry’s growth. However, it is not the only tax credit available, and a number of states and local municipalities have solar investment tax credits for their residents.
There are resources available, such as the DSIRE database (www.dsireusa.org) to help you stay up to date with incentives on a local level, and understand what financial benefits remain even after the expiration of the federal tax credit.