If you’ve ever considered solar, 2019 may be the best year to do so.
In California, solar prices have dropped 34% in the past five years. While equipping your home with solar panels can seem like an expensive upfront cost, the market is changing rapidly.
The reality is that there are many federal and state incentives that can dramatically reduce your cost.
For example, the federal solar tax will refund back 30% of the total cost – even for fees such as consulting with a solar professional – regardless of how expensive the project is.
In two years there will be no solar tax credit! If you’re considering solar energy, the time is now.
However, beginning in 2020, the tax credit will drop to 26%.
The following year, in 2021, the solar tax will drop to 22%.
In 2022, the solar tax credit for residential properties will become obsolete.
The time to install solar panels on a residential property is now to gain the best value as solar incentives after 2019 aren’t going to improve.
Are you Eligible for the Solar Tax Credit?
The solar tax credit only applies to homeowners who own their system.
Therefore, if you are leasing your solar system or it’s part of a PPA (Power Purchase Agreement), you would not be eligible.