Solar Tax Credits

April 29th, 2020

 

The federal solar tax credit, known as the ITC (Investment Tax Credit), was initially established by the “Energy Policy Act of 2005.” This gave homeowners across the country the opportunity to invest in an energy-saving solar system and get a federal tax credit of 30% of the purchase price. The credit was needed due to the high cost of solar equipment, specifically, solar photovoltaic panels. With other incentives available to manufacturers, cheaper raw materials, and competition, the price of photovoltaic panels has decreased in the past decade. These lower prices have lessened the need for subsidies. For example, we (Excel Solar) were selling photovoltaic systems (solar electric) for about $10 per watt just fifteen years ago. However, today, our price is near $3 per watt, installed!

Now, the federal solar tax credit is being phased out. 2019 was the last year for the 30% tax credit. This year, 2020, the credit is reduced to 26% and, in 2021, the credit will be reduced again to 22%. This will be the end of the residential tax credit. By 2022, a 10% federal tax credit will continue for commercial buildings only.

There is still plenty of time for homeowners to take advantage of this government program. However, they should start shopping now. Of course, Excel Solar offers free, no-hassle estimates for all your solar needs. Maybe it’s finally time to take control of your FPL bill?

Please review Instructions for Form 5695 to learn more.

C. Russell Moutsatsos
President of Excel Solar, Inc.
State Certified Solar Contractor (License #CVC56933)

Proud Member of Space Coast Licensed Roofers Association Proud Member of
Space Coast Licensed Roofers Association
Click for the BBB Business Review of this Contractors - Solar Energy in Malabar FL
Proud Member of Space Coast Licensed Roofers Association Proud Member of
Florida Solar Energy Industries Association
We support Brevard County 4-H
We support Brevard HEAT
We support Wounded Warrior Project
Click for our reviews on Angie's List

Excel Solar, Inc. 

Serving all of Brevard and Indian River Counties: Melbourne, West Melbourne, Melbourne Beach, Palm Bay, Indialantic, Indian Harbour Beach, Satellite Beach, Cocoa Beach, Cape Canaveral, Merritt Island, Titusville, Mims, Cocoa, Rockledge, Viera, Suntree, Grant-Valkaria, Malabar, Micco, Sebastian, Wabasso, Vero Beach, Fellsmere.

 



Phone:

(321) 626-6630
(772) 222-0015

 

340 Stan Drive, Unit 101

Melbourne, FL  32904

 


Email: office@excelsolarinc.com

Privacy Policy