What does that mean?
Well, if you’re considering investing in Solar for your home or business, it could be fairly important information for you to consider.
Right now in Virginia we don’t have an SREC market or state or local tax incentives to help offset the initial costs of installing Solar. That means that even though #RVA receives the same amount of sunlight daily as Miami, Florida, we are ranked 40th in the nation for solar installations- largely because our policymakers are heavily influenced by the electric utilities. (Read more here)
What we DO have is a 30% Federal Tax Credit. This incentive means that 30% of the total cost to install a Solar array can be applied to offset your Federal Tax obligation. This credit is applied to the tax year within which the array was installed; any excess credit rolls forward to subsequent tax years.
Except…this incentive is currently set to expire in 2016, and it’s as yet unclear if any excess tax credit will be allowed to apply to subsequent tax years in 2017 and beyond. So…if you wait to install Solar until 2016, and your tax credit exceeds your 2016 tax obligation, you may not be able to claim it’s full value.
You’re not going to stop needing, and buying, electricity…and unless the power companies start giving their product away for free, your Solar array WILL pay for itself many times over.
Remember back in the day when we all “leased” our phones from Ma Bell? Looking back, that just seems ridiculous, right? Well, Solar is really no different.
Why continue to fund the utilities and their self-serving political & environmental influence with your monthly payments when you could be doing something positive for the Earth and putting money back in your own pocket instead?
One of our clients’ financial advisors recently confided that his Solar array is netting him 6%….what other investment can you think of that offers that kind of steady, guaranteed return? So…don’t wait and risk losing the full value of your Solar tax credit. Start saving money on energy now, and claim every dollar you’re due!
We can send you a quote with a long term financial projection on a Solar array that meets your individual needs. Interested? Send your site address, your average and high annual power bill amounts, and your contact information to firstname.lastname@example.org. We will never share your information and there is no obligation whatsoever to buy. Why not learn how Solar can benefit your bottom line?