Why Solar Is a Great Investment Right Now
Times are tough when it comes to finances. Even if we’re making more, and working from home, we’re still paying more for just about everything: gas, food, and even electricity. We can help with that last point.
There is no better time than now to invest in solar for your home. That’s because even when prices rise and the stock market eats at our investments, solar energy saves us money in the long run.
The Benefits of Going Solar
There are a lot of benefits to going solar, including:
- You’ll eliminate your electric bill. The more you use solar power, the less you have to pay to your electric company. You’ll start seeing benefits immediately in terms of lower costs. Talk to us about your break-even point in terms of the cost of the system and your annual energy usage. After that point, you’ll profit from your investment.
- It’s clean and green. Solar power is clean, renewable, and plentiful.
- Solar is renewable and sustainable. The sun is a reliable and practically endless source of power. Your solar energy system replenishes itself naturally and won’t run out.
- You’ll increase your home’s value. Homes with solar panels sell for about four percent (4%) more in Florida than those without.
- It keeps the electricity on. A solar energy system will power the battery backups in your home so that you can keep the power on when there’s a blackout.
How the Solar Tax Credit Works
You can save considerably on your solar system by using the federal solar tax credit, which allows you to write down what you owe in taxes based on a percentage of what you spent on a solar photovoltaic system. This year’s Inflation Reduction Act increased the tax credit to 30% for any system installed between 2022 and through the end of 2032.
You can take advantage of the credit as long as:
- You own the home and the system being installed.
- The system is generating electricity.
- You have an income tax liability. Work with your certified public accountant to verify your savings.
You’ll receive 30% of your total project costs (including equipment, permitting fees, and installation) as a credit on your federal tax return.
There’s no maximum amount that can be claimed on your taxes. For more information about the federal tax credit, visit Energy.gov’s recently updated “Homeowners Guide to the Federal Tax Credit for Solar Photovoltaics.”
Call Florida Solar for a Free Quote
For over 40 years, Florida Solar has installed residential and commercial solar panels and pool systems. We are the area’s premier solar installation company because we will:
- Schedule a free solar savings consultation
- Develop your custom solar design
- Handle the permitting
- Install your system
We’ve helped people like you throughout the Tampa Bay area enjoy the benefits of lower energy costs. Read the great things they have to say about working with Florida Solar.
If you’re interested in adding a solar energy system to your home, contact us for a free quote or call us at 727-513-3873.