Updated: Sep 17, 2022
The answer is NOW! If you haven't gone solar yet, you are actually a bit late to the game. But better late than never! Actually, the good news is that the 26% solar tax credit that was supposed to end in 2020 has been extended this year. But it will phase out soon, so there has never been a better time to go get a home solar system. Here is what to know when buying solar panels.
Ensure Ownership of your Solar Roof Systems
With Planet Solar, you will be the sole owner of your solar house battery, meaning you are eligible for the solar investment tax credit. “Even if you don’t have enough tax liability to claim the entire credit in one year, you can “rollover” the remaining credits into future years as long as the tax credit is in effect. However, remember that if you sign a lease or PPA with a solar installer, you are not the owner of the system, thus you cannot receive the credit.
Call Planet Solar to ensure the correct steps needed to claim your next solar tax credit. Which will occur when you file your federal tax return. Let your accountant know or fill out the necessary paperwork to determine if you are eligible, complete IRS form 5695, and include your renewable energy information on form 1040.
Are you still questioning if you should get a solar power roof?
Get a Straight Answer About A Solar Panel Roof
Are you still questioning if you should get a solar power roof? If you still have questions, we don’t blame you. There is plenty of misinformation circulating the web and in real life. Competitors are desperate and will claim they provide “FREE” solar. Here at Planet Solar, we provide real answers to real questions. Looking for services to get solar power systems for your home. Planet Solar will help you make the most informed decisions possible. Need a house batter? Then give us a call at (800) 859 - 7652 or fill out a form here.