FREQUENTLY ASKED QUESTIONS
There is a Federal Tax Credit for residential and commercial property owners that install solar pv systems that cover 30% of your total costs with no maximum credit. The taxpayer may claim this credit of qualified expenditures for a system that serves the taxpayer’s property. Systems that are in service on or before December 31, 2019 will qualify for this credit.
In the state of Missouri, any taxpayer who paid a certified entity to complete a home energy audit or other efficiency improvements may take a tax deduction of $1,000 maximum per year per individual and $2,000 maximum for joint filing. A home energy audit must be performed before the implementation of any energy efficiency upgrades to be eligible for this tax deduction. Also, homeowners in Missouri are also encouraged to add solar energy systems to their homes with a 100% solar property tax exemption. Markets across the U.S. have noted solar energy adds 50% to the property’s value. Additionally, you will not pay a thing in taxes on all that added value!In addition, different statewide programs and utility company rebates may be in place at the time you are looking to install so ask us today if you qualify for any other incentives!
In addition, different statewide programs and utility company rebates may be in place at the time you are looking to install so ask us today if you qualify for any other incentive!
Please be sure to connect with us before your home goes on the market. We’ll help prepare your realtor to sell the value of solar, and once you’ve got a buyer we will assist in the transfer of ownership process through the equipment’s manufacturer(s). According to National Renewable Energy Laboratory (NREL), homes with solar panels sold 20% faster and for 17% more that homes without solar! So, remember: homes with solar panels are a very hot commodity and should be valued as such!
Depending on where you live or work, there are Federal and Statewide incentive programs available to help urge residents and business owners to install solar energy on their properties. Different statewide programs and utility company rebates may be in place at the time you are looking to install so ask us today if you qualify for any other incentives.
Solar Renewable Energy Credit Program (SRECs)
The Illinois Power Agency has developed electricity procurement plans to encourage homeowners and business owners across the state to install solar photovoltaic systems. Based on your system size, this program has the potential to credit an additional up to 35% of your total system costs.
The Modified Accelerated Cost Recovery System is a method of depreciation in which a business’ investments in certain tangible property are recovered, for tax purposes, over a specified time through annual deductions. Qualifying solar energy equipment is eligible for a cost recovery period of five years.
Net Metering and Utility Company Rebates
In addition to net metering with your utility provider, certain utilities provide additional rebates for installing solar photovoltaic energy to your property.