How To Apply For Federal Tax Credit

There has never been a better time to switch to solar!

Due to federal and state incentives, qualified homeowners can lower their monthly electric bills with solar energy for no money out-of-pocket. Your tax credit may qualify for up to 26% of the cost of your solar equipment when you install solar panels or solar water heating system. This opportunity is only available through the end of 2022 – after that, the percentage will decrease periodically through the end of 2023.

How Solar Tax Credits Work

A solar tax credit is the amount of money that taxpayers can subtract from the taxes they owe to the government from the previous year. If you made a solar investment that was approved by the government during that last year, you would be able to deduct that amount when you file your taxes with the government. All products that are eligible for tax credits for residential energy efficiency are labeled with an Energy Star certification.

How To Apply For Federal Tax Credit

When you file your taxes, make sure to fill out form 5695. This form can be applied only to residential properties.

Download form 5695
Instructions for Form 5695

How Solar Rebate Works

Solar rebates work differently than tax credits. In fact, rebates can help you can get cash back into your hands sooner! While there are no federal rebates for energy-efficient purchases at this time, many state governments, local governments and utility companies offer cash rebates for the purchase of energy-efficient products. Some manufacturers offer specials and sales that make it easier to power your home with renewable energy.

How to Apply For Solar Rebates

The solar rebates vary from state to state, and the actual offer updates frequently. To find out what discounts available to you, please reach out to one of our representatives at 1-888-666-3699 or complete the inquiry form.

Reasons Why Now is the Time to Go Solar

Solar energy is the wave of the future – not only because of its undeniable environmental benefits, but for its financial ones as well. Federal and state incentives will be decreasing at the end of 2020, making today the best time to invest in solar energy. If you’re looking for a way to save money while eliminating your carbon footprint, then now is the time to go solar!

What is Solar Energy?

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.

Why Should I Go Solar?

It’s environmentally friendly: As previously mentioned, sunlight is the cleanest source of energy due to its natural abundance. Solar energy has virtually no environmental impact and reduces carbon emissions, ultimately improving air pollution. Green energy is also more self-sufficient than fossil fuel, since solar energy is generated nearly everywhere, whereas fossil fuels are mainly imported from other countries.

It’s a good investment: Contrary to popular belief, solar energy can save you money on your electric bill in the long run! Additionally, a study conducted by the Lawrence Berkeley National Laboratory in California concluded that buyers were willing to pay $15,000 extra on homes with solar panels [1]. If you’re worried about your taxes, don’t! Most states do not increase property taxes on homes using solar energy.

You’ll receive tax credit: 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 clean energy in the United States implemented by the federal government today. Since solar energy is growing across the country, the long-term stability of this policy has allowed businesses to lower costs gradually.

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.

Why Now?

Residential and commercial solar energy system owners can deduct 30% of the cost of installation for systems that have begun construction through 2019. 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.

If you want to reduce your monthly bills, reduce your annual taxes and help improve the environment then solar energy may be right for you. Visit our website at momentumsolar.com or call 1-888-MOMENTUM for more information.

Solar Energy: Myth vs. Fact

For some homeowners, solar energy can be an overwhelming subject – especially when you don’t have all of the facts. Does solar energy really save you money? What about when it comes time to sell your home? And is the maintenance manageable?

While there’s plenty of confusion circulating online, we’re here to break down the truth about solar energy. So, forget your Facebook timeline and ignore the Internet garbage, let’s debunk some of the most famous solar myths together!

Myth #1: Solar Lowers Your Home’s Value

Fact #1: Solar Dramatically Increases the Value of Your Home

Even though critics of solar say rooftop panels are an eye-sore, research says otherwise. Studies[1] show potential homeowners are more likely to put an offer down on a house that already has solar panels installed. This means your house may sell faster and for a higher price than the average home.

Myth #2: Solar Doesn’t Work in Certain Climates

Fact #2: Solar Works in Every. Single. Climate.

The one thing solar panels need to generate power is, as one might expect, sunshine. This means the heat emitted by the sun’s powerful rays are irrelevant when producing solar energy. Your solar panels can produce the same level of energy on the chilliest of winter and sweltering summer days (as long as there’s sunshine). Surprisingly, solar panels also work during cloudy or rainy days!

Myth #3: Going Solar Breaks the Bank

Fact #3: You Can Save Tons of Money After Going Solar

Besides saving the environment, you can rest easy knowing solar energy can also save you money on your monthly energy bill. The best part is, well-qualified homeowners can lower their energy bill through solar installation with no money out-of-pocket. If you’re not sold yet, keep in mind recent research suggests the average American home can save up to $100 a month with solar energy.[2]

Myth #4: Solar Panels = Too Much Work

Fact #4: Solar Panels Require Little Maintenance

Residential solar panels only need to be cleaned a few times a year. And if you’re not the tidying type, don’t worry! Cleaning simply entails washing dust and dirt off the panels with a standard garden hose. This easy task often takes less than 15 minutes (depending on the size of your solar panel system) and ensures you’re producing at peak levels!

The Cold, Hard Truth

Solar panels not only save you money, require little maintenance and work like new no matter the weather, but they’re also environmentally friendly. Solar energy is a clean, renewable resource, that has the power to positively impact our lives. According to Science Direct[3], “Solar energy is one of the cleanest forms of energy sources and considered as a green source of energy. Solar energy benefit ranges from low carbon emission, no fossil fuel requirement, long term solar resources, less payback time and other.”

The verdict is in: solar energy is great for your home, wallet and the environment! Click here to start your Momentum Solar project today.

[1] https://www.fastcompany.com/90375536/what-most-americans-are-looking-for-in-a-new-home-solar-panels

[2] https://energyinformative.org/solar-energy-pros-and-cons/

[3] https://www.sciencedirect.com/science/article/pii/S1364032114007734

Best Time to Go Solar

Best Time to Go Solar

Is There a “Best Time” to Go Solar?

Summer months have always been considered optimal for solar “output” or, how much electricity your solar system is producing versus what you’re using from the grid. The main reason for this is the fact that there are more hours of sunlight, so more solar power is produced overall. Since the sun is beaming for more hours during summer days, people often see a correlation between solar energy and summertime. The actual efficiency of each panel drops as temperatures rise, though, and it’s been proven that panels perform better in cooler temperatures. The reason your system may produce less during autumn and winter months is simply because there are less hours of sunlight for your system to soak up.Don’t get us wrong – we still live for the summer months. Because the days are longer, the system often OVER produces energy during this time, so any extra energy is pushed back into the grid to build a bank of credits with your utility company — this is called net metering. You’ll be able to easily use these credits when your system doesn’t produce as much solar energy during shorter days. There really isn’t a “right” or “wrong” time to make the switch to cleaner, more affordable energy – just keep in mind that depending on the time of year, inspections and installations may be halted due to inclement weather.About Momentum Solar
Momentum Solar, founded in 2009, is a top solar contractor and Inc. 500 fastest-growing private company that employs over 600 people nationwide. The company is committed to making solar panels affordable, providing savings for their clients, and helping the environment. Their team of in-house professionals has an extensive wealth of knowledge in designing customized solar power systems for both residential and commercial properties. Momentum Solar manages the entire customer lifecycle from the sale to design, engineering, permitting, installation and activation of the system to make the process simple for homeowners and business owners.For any media-related inquiries, please contact:
Marketing Department
marketing@momentumsolar.com
1.888.MOMENTUM x2136facebooktwittergoogle-plusinstagramlinkedin

Momentum Solar Is Empowering Customers with New Technology

Momentum Solar, one of the nation’s fastest-growing private companies, is now offering their customers the ability to remotely monitor their home solar systems with state-of-the-art service and technology.

Momentum, a solar energy company, has seen rapid growth over the past few years as more educated homeowners are adopting solar to take advantage of the cost savings and environmental impact associated with the installation. To further the benefits of the solar experience, Momentum Solar research and development engineers have started offering real-time system monitoring technology to their customers. This new technology is a free service included with every solar system installation. A personalized dashboard is created for each customer, showing a visualization of the customer’s home and roof with the solar panels (modules) and micro inverters displayed. Customers can monitor their kilowatt (electricity) usage in real-time, access system details, run reports, and read ‘fun facts’ that help leverage their electricity usage and savings.

“We are continuing to fine tune the Momentum machine,” said Brian Cummings, System Monitoring Manager at Momentum Solar. “This technology is a huge leap forward to ultimately empower our customers to control their electricity usage.”

All home solar systems are managed and monitored by in-house Momentum Solar specialists with a proactive approach. If there is a production issue or shortfall then the Momentum monitoring team will review the error and dispatch a technician to make the repair. This new technology pinpoints the exact location of the issue on the solar array, enabling Momentum to troubleshoot and resolve the issue quickly. This innovation utilizes cellular-based monitoring that provides a consistent signal back to Momentum.

“We are excited to communicate and give customers this new technology,” said Call Center Manager Justin Bintliff. “Our customers are conditioned to receive their electricity bill the following month when it’s too late — there is nothing they can do about their electricity usage from the previous month. Our new monitoring technology is enabling families to take control of their electricity production and consumption while adapting to better everyday habits.”

Real-time system monitoring technology can be downloaded via smart phone or access on a private website.

Originally published on PR WEB.

For any media-related inquiries, please contact:
Marketing Department
marketing@momentumsolar.com
1.888.MOMENTUM x2136

Solar Is Now the Cheapest Form of Electricity

Solar Is Now the Cheapest Form of Electricity

New year, better energy: According to multiple news reports from data collected over the previous year, solar power is officially the cheapest form of electricity worldwide, which is great news for the environment today and for future generations.

According to Bloomberg, the cost of solar in 58 “emerging market economies” has dropped about 1/3 since 2010, and it is outperforming coal and gas. That said, it’s expected that within the next decade, fossil fuels for electricity will reach its’ peak and start a decline, while solar continues to climb — with a projection that 68% of new electricity capacity will be generated from the Sun within 25 years.

Solar, wind and natural gas will make up the majority of new capacity “additions” to electricity usage for the foreseeable future, a reason being that it’s not only very expensive to build new fossil fuel plants but that they are pricey to maintain. In fact, in many places, the entire lifetime of installing and using wind and solar is still less than just the cost of building fossil fuel plants — and by as early as 2027, the cost of building wind and solar fields will even often be less expensive than just running current coal and gas generators.

The common myth that “solar power is expensive” is officially debunked with clear data showing exactly the opposite. Not only is it now the world’s cheapest form of electricity, but qualified homeowners and business owners can save money every month when they get a system installed on their roof or property. There are additional incentives available for purchased systems.

What would you do with some extra cash in your pocket? Save up for a new car? Take your family on vacation? Pay down that credit card bill? Maybe within a few years you can finally install the pool in your backyard … the possibilities are endless!

facebooktwittergoogle-plusinstagramlinkedin