Solar Federal Tax Incentives Extended

Posted on: August 20, 2016

The federal government recently passed a spending package allowing solar tax incentives to be extended for another 5 years. The solar tax incentives allow taxpayers to receive a 30% Investment Tax Credit (ITC). This is great news for the renewable energy industry and the solar movement! The new legislation has created a boom in the solar industry by effectively encouraging residential and commercial property owners to use solar technology in their homes and businesses.

Now is a great time to transition to solar – not only does the current legislation makes it an affordable and economical option, photovoltaic panels will also increase the value of your home or commercial building. The solar usage in the US is expected to triple within the next 6 years – and has already nearly doubled since 2014. With solar panels steadily becoming mainstream, the economic value of properties with photovoltaic panels will increase substantially.

Since the Solar TAX INCENTIVE was implemented in 2006, solar installation has increased over 1,600 percent.*  The extension for solar tax incentives insures the industry’s growth, and when the amount of solar installations increase, the price per solar pv panel decreases.

From an environmental perspective, the projected growth due to the solar ITC extension will offset 100 million metric tons of carbon dioxide (CO2) emissions per year.

“There’s no way to overstate this — the extension of the solar ITC is the most important policy development for U.S. solar in almost a decade,” said MJ Shiao, Green Tech Media’s director of solar research.

The experts at Action Air are here to help you get the maximum return on your investment. Call us today for a free consultation. Our team will get you on your way to an environmentally friendly solar panel system, increased property value – and energy savings!
*Resources

http://www.greentechmedia.com/articles/read/breaking-house-passes-1.1-trillioun-spending-bill-with-renewable-energy-tax

http://www.seia.org/policy/finance-tax/solar-investment-tax-credit Solar Energy Industries Association