Solar Power in 2020
Is your New Year’s Resolution to go green or to save more money? Switching to solar power can accomplish both of these goals! Read on to learn how solar panels can simplify things for you and your home.
Reduce Your Carbon Footprint
Solar power is harnessed energy from the sun that is converted into thermal or electrical energy. It’s the cleanest and most abundant resource in the world because sunlight is natural and replenishable. Fossil fuels, like coal and oil, are finite and harmful to the atmosphere due to their contribution to the greenhouse effect.
Our carbon emissions have dramatically increased in the past few decades, which in turn increases the threat of climate change. In fact, the electric power sector is one of the largest contributors of greenhouse gases in the nation, representing nearly 28% of all emissions .
Since solar energy systems are powered by the sun’s energy, this technology produces emission-free electricity. For every home that switches to cleaner energy, we are significantly reducing our carbon footprint. These technologies are crucial in our efforts to reverse the damage we have inflicted on our planet.
Add Up Your Savings
Rebates and Incentives
Homeowners that switch to solar energy can benefit from state, county and utility rebates. The Database of State Incentives for Renewables & Efficiency (DSIRE)  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!
Federal 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 the solar system from their federal taxes. It is one of the most critical incentives for home solar power in the United States implemented by the federal government today.
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.
Residential and commercial solar energy system owners can deduct 26% of the cost of installation for systems that have begun construction through 2020. The ITC then decreases as depicted by the following timetable:
2020 – 26%
2021 – 22%
After 2021 – 10% permanently
Taxpayers will receive the most out of their tax credit if they invest in solar energy today! Solar energy is both a smart investment for your long-term financial goals and the best choice for the environment.
Switch to Solar Today!
At Momentum Solar, we take care of the entire solar energy process – from system design, engineering, permitting, installation, inspection and activation of your system. We are among the fastest-growing solar companies in the nation –visit our website www.momentumsolar.com or give us a call today at 1-800-MOMENTUM.
Find Out if Switching to Solar is Right for You
Call 1 (888) MOMENTUM now to get your no-obligation, free quote