What Tax Credits Can I Get From Solar Panel Upgrades?

Having a solar panel upgrade installed at your home gives you immediate savings on your electricity use. But a solar panel installation is also a smart way to protect your household budget from volatile energy costs. It is an investment that can add value to your home while it saves you money. While California no longer offers tax credits to homeowners for upgrading to solar panels, you’re still eligible for federal tax credits through 2021.

Federal Tax Credits for Solar Panel Upgrades

Through the Residential Renewable Tax Credit, homeowners are eligible for a tax credit on their federal income taxes. To receive the maximum 30 percent credit, you must purchase your solar panel system and have it installed and in use at your home by Dec. 31, 2019. This credit decreases to 26 percent in 2020, and then to 22 percent in 2021. After 2021, no credits are currently scheduled.

The federal tax credit is a credit that is applied to the taxes you owe. There is no cap on this credit, but because it is a credit, if it is greater than what you owe for your federal income tax, then the remaining credit can be rolled over to your next year’s tax return. The biggest benefit of this credit is that it helps you realize your return on investment sooner.

Special Programs for California Homeowners

The upfront cost of a solar panel installation can be intimidating. California homeowners are eligible for special programs that can help you to finance your systems. Gilmore Heating Air and Solar has partnered with California’s HERO Program, which is funded by Property Assessed Clean Energy (PACE) legislation and the YgreneWorks program through the Ygrene Energy Fund.

Upgrade to Solar Today

Federal tax credits and financing opportunities make it easier for California homeowners to upgrade to solar panels. Contact Gilmore Heating Air and Solar in Placerville to learn more about the financial incentives available for switching to solar energy. We’ll strive to answer any questions you may have.

The Wonderful Invention of Solar Panels

Solar panels have revolutionized the way that we provide energy for our homes. This incredible piece of technology allows us to utilize the sun’s rays and convert it into energy. Not only is this method incredibly energy efficient but it is also eco-friendly. No emissions are put out into the environment by utilizing solar electricity. Getting your hands on a solar panel has also never been easier as well. Let’s take a look at some incredible benefits to utilizing solar panels for your business.

Saves You Money on Your Electric Bill

Did you know that solar panels can save you tons of money on your electric bill each month? Not only are these panels incredibly eco-friendly but they are cost-efficient too. This is perfect to use during the summer whenever the AC is on full blast due to the heat.

It Helps The Environment

As mentioned previously, solar panels are incredibly eco-friendly to the environment. They do not give off any harmful emissions that hurt the environment. It is a form of renewable energy that keeps on giving back to society.

It Opens Up a New Industry

One of the most overlooked facts about solar energy is the fact that it creates new jobs for people. Solar panels can help create dozens of jobs for individuals in the renewable energy industry. This means that there are funds being put into R&D to improve upon existing technology. It is a win-win for everybody.

Let Us Help You Install Your Solar Panel

Have you just purchased a solar panel and need help installing it? You want the highest quality of installation to ensure that it is working properly. Gilmore Heating, Air, and Solar have you covered when it comes to solar panel installation. Our professional team of electricians can help you when it comes time to install. We provide a free consultation when you contact us. We have the years of experience to get the job done the right time so you don’t have to worry about costly repairs down the line. Contact us today!

3 Benefits of Solar Energy

Solar panels take the free power of the sun and turns its radiation into energy. This solar energy offers a number of benefits for both homeowners in Placerville as well as the environment. The following are three key ones to know about:

1. Low Maintenance Cost

Like other home systems, solar panels require an upfront investment. However, once they are installed keeping them maintained is relatively simple and low cost. They only need to be cleaned a couple of times each year. The inverter needs to be changed about 5 or 10 years.

2. Reduces Your Energy Use

Using solar energy means that some of your home or business’s energy needs will be met by the electricity generated by the solar energy system. This, in turn, means that your energy use will decline so your electric bills will go down.

The amount of money that you save on your electricity bill is going to depend on a number of factors. Two of the most important of those were the amount of electricity that you use and the size of your solar energy system.

Another important aspect of solar energy that helps to reduce your electricity bills is that if your solar energy system generates more electricity than you can use, the surplus can be exported to the grid if your system is connected to it. This means that you’ll receive bonus payments. It’s also possible if you sell the excess electricity at high rates and purchase the electricity you need at the lower rates.

3. It’s Renewable

Solar energy is a truly unique and environmentally-friendly energy source in that it is completely renewable. Not only is it available every day of the year, but it can also be harnessed in any area of the world. It’s not possible to run out of solar energy as long as the earth is orbiting the sun.

Solar Services in Placerville, CA

At Gilmore Heating, Air and Solar Contractors, we are your Placerville, California solar energy system experts. Contact us today to schedule a consultation or for more information about how solar energy can benefit you.