There are many reasons to invest in solar panels. Not only is it good for the environment, but you can also take advantage of many economic incentives. Below are some of the types of solar incentives you can expect from buying solar panels.
Tax Credits
When you install solar panels, a portion of your project’s costs can be deducted rom your taxes. As such, the amount of taxes you pay when you file will be reduced. You can take advantage of both federal and state tax credits.
Rebates
Another type of solar incentive are rebates. These are a partial refunded returned to the owner after the installation of their solar panel system. You can take advantage of rebates by filing for a rebate with the utility company, local government, or other organization.
Low-Interest Loans
Installing solar panels can be expensive at first. To help cover the costs, there are a variety of low-interest loans available for renewable energy projects.
Property Tax Relief
Some states also exempt certain homes and businesses from property taxes if they have a solar power system. This is not in all states, so it’s best to check with your local government to see if you can take advantage of this.
SRECs
SRECs, or Solar Renewable Energy Certificates, allow homeowners to get credits for the solar power they generate. They can then sell the certificates to utility companies through a local marketplace.
If you’re considering installing a solar panel system for your home or business, look no further than Empire Clean Energy Supply. Contact us today at 631-589-4340 to learn more.