Life After Solar

If you have just decided to make the switch or are considering switching to clean solar energy, you may be wondering what life at home will be like. Although you will most likely not even notice a difference, solar panels can help slash your bills and reduce your carbon footprint. Read on for a glimpse of what life is like once you switch to solar.

Price-Protected Power

The change that most notice first after they switch to solar power is the dramatic decrease in their energy bills. Does this sound too good to be true?

To understand how solar cuts energy bills so significantly, it’s important to understand the basics of how solar works. Solar panels contain many solar cells, which are made of layers of silicon, phosphorus and boron. These layers absorb photons from the sun’s energy and convert them into an electric current using their positive and negative charges. This process is known as the Photovoltaic Effect.

In most cases the average solar-powered home generates more than enough energy to meet its needs, so any excess electricity is sent back into your neighborhood’s power grid. The sun’s energy is free, unlike the resources from your utility company. Thus, homes with solar power can slash their energy bills significantly!

Long-Term Investment

If you plan on staying at your current home for a long time, you will most likely see your investment returned in full plus other benefits. Not planning on staying long-term? If you are considering selling your home, solar panels can actually add to the value of your property. Once you sell, you can transfer your contract over to the new homeowner.

Consumption Mindfulness

Once you switch, you may find that you are more aware of your energy consumption – whether that means shutting off lights as you leave a room, unplugging devices that aren’t in use or so on. Solar energy is abundant and free, but it is still a precious resource that we should not take advantage of!

Life is all about balance. If we are responsible at home and practice sustainable habits, they will carry over into other aspects of our life such as transportation, proper waste disposal and so on. By instilling small habits, we can help make our world a better place to live.

Momentum Solar

Life after making the switch is a breeze, and with Momentum Solar the installation process can be just as simple. We will be there for you every step of the way from your solar enrollment through your system design, engineering, permitting, installation, inspection, and activation to ensure a seamless transition to cleaner, more affordable solar energy. All you’ll have to do is sit back, relax and enjoy your new energy source.

Our mission at Momentum Solar is to enable our customers to take control over their rising electricity costs and start generating cleaner, price-protected power. Visit our website momentumsolar.com or call 1-888-MOMENTUM for more information.

Choosing Your Financing Plan

Especially during difficult times, Momentum Solar strives to do whatever we can to give our customers control over their rising electricity bills. To further help, we provide homeowners with a variety of financing options that give our customers financial freedom and stability. Here is an explanation of each plan to help you determine which ones works best for you.

What Is Solar Financing?

Homeowners switching to solar often implement a solar financing plan to help offset the initial cost of installation and add to their overall savings. Most reputable companies offer a few options to choose from where each plan has their own benefits. Momentum Solar offers its customers Power Purchase Agreements (PPAs), solar leases and solar loans. Homeowners are advised to choose their plan based on their income taxes, credit score, location and how long they plan on using solar energy.

Power Purchase Agreement (PPA)

The Power Purchase Agreement gives qualified homeowners the opportunity to pay for the energy that their system produces at a predictable rate that is lower than the local utility rate, but they pay little to no upfront cost for the system itself. Homeowners with a PPA also have price protection from rising electricity costs for the duration of the solar agreement. At the end of the agreement the PPA can be extended, or the system can be removed or purchased.

Solar Lease

Like the PPA, homeowners can lease their solar panel system with little to no upfront costs. Leases offer a flat, fixed monthly rate for the solar panels whereas PPA agreements offer a rate based on specific energy production.

Solar Loan

If you take out a loan to pay for your solar system, you are still eligible for the 26% federal solar tax credit. Solar loans allow homeowners to still see incredible savings on their energy bill without having to buy their system outright. At Momentum Solar, we can help you find a loan at a great rate to fund the purchase of your system.

Rebates and Incentives

Another way homeowners can save even more with their solar panel system is by implementing federal and local incentives. In many cases, customers can utilize both their financing plan and rebates to achieve maximum savings. We highly encourage customers to look into which incentives they qualify for with their chosen plan, as not all financing options and incentives can be paired up. For additional assistance, ask a solar specialist from Momentum to walk through your options with you.

Why Momentum

If you’re still concerned about the cost of solar, ask us about Momentum’s flexible payment options. We offer customized payment plans that can include $0 upfront cost – saving you up to 30% off your utility bill immediately.

Solar power provides financial security with consistently lower bills and long-term savings. Take control of your energy bills today and switch to cleaner, price-protected energy.

Visit our website to see what state incentives, federal tax credits and financing options are available in your area.

Solar Budgeting 101

With the right combination of tax credits, state incentives and solar financing, switching to solar energy can be a breeze! Homeowners can achieve great energy savings with solar panels while taking advantage of the aforementioned resources. If budgeted strategically, these systems pay for themselves in no time!

You don’t need to be an economics wiz to find a great deal. Solar panel owners nationwide are receiving all the benefits of green energy by checking off the resources below.

Tax Credits

The federal solar tax credit, also known as the investment tax credit (ITC), allows solar energy owners to deduct 26% of the cost of installing their panels from their federal taxes. The federal solar tax applies to both residential and commercial systems – every user that owns their systems, as opposed to renting them, qualifies for this deduction.

This credit can be applied to personal income taxes that would otherwise be payed to the federal government. For more information on how to apply for these taxes, visit our step-by-step guide. You can also ask a Momentum Solar representative for further assistance.

Residential and commercial solar energy system owners can deduct 26% of the cost of installation for systems that have begun construction through 2020. The solar tax credit then decreases to 21% in 2021, and finally 10% beginning in 2022.

Taxpayers will receive the most out of their tax credit if they invest in solar energy today!

State Incentives

In addition to federal tax credits, customers can benefit from state, county and utility rebates. The Database of State Incentives for Renewables & Efficiency (DSIRE) [1] has an interactive map that displays solar incentives by state.

You can also speak to a dedicated solar energy specialist at Momentum Solar to find out what incentives you may qualify for. We will happily provide you with all available rebates and incentives in your area!

Solar Financing Options

On top of the plenty of rebates to help homeowners save money, there are also a few solar financing options to help offset the cost of your system. The following financing options are available depending on your needs and budget: Customers can choose from solar loans, cash payment, cash credit, or a Power Purchase Agreement (PPA).

There are different benefits for each option, and at Momentum Solar we want to give you all the information you need to pick the best one for your home. We understand that switching to solar power is a serious commitment, and we want to provide you with cleaner, price-protected energy at an affordable cost.

Momentum Solar

If you need any assistance claiming your federal tax credits, need help researching statewide incentives or simply have questions about your savings, the solar specialists at Momentum Solar are happy to help. We’re experts in finding our customers the best deals while providing high quality systems that produce clean, price-protected electricity.

Momentum Solar is a full-service solar energy company that handles everything from initial assessment all the way through installation and energization.

Visit momentumsolar.com or call 1(888)-MOMENTUM for assistance filing for tax credits or for more information about our services.

 

How to Apply for Solar Tax Credits

Homeowners can save a significant amount of money with solar panels are through federal, state, county and utility rebates. Solar tax credits are a federal incentive that give homeowners a 26% credit that can be applied to their annual taxes. On top of that, you likely also can apply statewide rebates and incentives.

Are you wondering how you should apply for these credits when it’s time to file your taxes? Read on to learn more about tax credits and how to claim them!

Federal Tax Credits

Tax credits are a great way for residents who own their solar panel systems to earn money back. The Federal Tax Credit allows solar energy owners to deduct 26% of the cost of installing the solar system from their federal taxes.

The Federal Tax Credit applies to both residential and commercial systems. This credit can be applied to personal income taxes that would otherwise be payed to the federal government.

This deal will not last forever. Residential and commercial solar energy system owners can deduct 26% of the cost of installation for systems that have begun construction through 2020. The tax credit then decreases in slow increments annually until 2021, where it is projected to stay at 10%. You’ll get the best deal if you switch to solar energy today!

How to Apply

If you already own a solar panel system, you may be wondering what the next steps entail. First, we recommend checking that you qualify for this tax credit. Make sure all these boxes are checked before you move on to the next step:

  • Installed your system in 2020
  • Generate electricity with your panels
  • Own your solar panels

If you said yes to all these conditions, then you’re ready file for your tax credits! Keep in mind that you take the amount directly off your tax payment, rather than as a deduction from your taxable income.

When you’re ready to claim your credit, you are going to need to file IRS Form 5695 when doing your tax returns. You will be instructed to calculate your credit on the form.

Rental properties can get a little tricky, but you can claim the residential solar credit if you live at the house for part of the year. To make up for time not there, you will have to reduce this credit. For example, if you live at your rental home for three months of the year, you will be able to claim 25% of the credit [1].

As an example, if your system costs $10,000 and the full credit is $2,600, you can claim 25% of this amount which totals $650.

If you need any assistance claiming your federal tax credits, need help researching statewide incentives or simply have questions about your savings, the solar specialists at Momentum Solar are happy to help. We’re experts in finding our customers the best deals while providing high quality systems that produce clean, price-protected electricity.

Momentum Solar is a full-service solar energy company that handles everything from initial assessment all the way through installation and energization. Visit www.momentumsolar.com or call 1(888)-MOMENTUM for assistance filing for tax credits or for more information about our services.

[1] https://turbotax.intuit.com/tax-tips/going-green/federal-tax-credit-for-solar-energy/L7s9ZiB4D

Do I Qualify for Solar?

You may have seen solar panels popping up on your neighbors’ homes and are starting to wonder if you should install them, too. We can help you with that!

Solar electricity can help more people than ever thanks to improving technology as well as federal and state incentives. With that being said, Momentum Solar wants the best for our customers and provides homeowners with all information necessary to make this important decision. Here are some questions to consider when trying to determine if solar is right for you.

Is My Home A Good Fit for Panels?

Solar panels are designed to work in a wide range of climates and locations. Sometimes, however, some certain roofs are not suitable for solar systems due to their age, condition, or lack of access to sunlight. Many of these roadblocks are fixable, for example you can replace your roof or trim surrounding trees that are blocking your panels from the sun.

The size, design and location of your home also factor into the efficiency of solar panels. Usually, solar panels perform best on south-facing roofs with a slope between 15 and 40 degrees – but don’t worry, other roofs are suitable too. Speak with a Momentum Solar representative to find out if your roof is a good candidate for installation. Our specialists custom design each system for homeowners to ensure maximum efficiency as well as aesthetic appeal.

Do I Qualify for Credits or Incentives?

Most homeowners who have purchased their solar panels qualify for solar tax credits, which you can apply to your annual taxes. This credit is 26% of the cost of installation through the end of 2020, and after this year this number will decrease slightly. We encourage all who are interested in solar power to make the switch now while this deal is still available!

On top of federal tax credits, you may qualify for local rebates too. These vary depending on state and county, so we encourage you to ask us for help finding the ones that you qualify for.

How Can I Get Started?

In order to make sure that you qualify for solar power, ask your installer for an onsite home assessment. Momentum Solar provides customer with a free, no-obligation site assessment that concludes with a quote for your personalized solar energy system. Once you receive this information, you can then come to your decision as to if you would like to continue with this project. We understand that switching to solar is a big commitment and we truly want our customers to feel informed and comfortable when making their decision.

If you choose to pursue a project with Momentum Solar, you can sit back and relax as we take care of the entire process for you. We handle everything from permitting, design, installation and activation of your system. In addition, we also offer a variety of solar financing options to help you plan out your payments for your system and collect your savings your way.

Visit momentumsolar.com for more information about solar energy.