Solar ITC and what it means for you!

“The Solar ITC goes down in 2020 to 26%”

What does this mean for you? It can mean missing out on thousands of dollars in savings! For the average sized solar system in the US it can mean a difference of close to $10,000 dollars.

To break down the full current tax credit Schedule lets take a look at this image:

This is the current schedule assuming the Federal Government does not change it between now and the end of the year.

Now how late is to late to act in 2019 you might ask? To take full advantage of the 30% tax credit in 2019 the project must have commenced construction. Looking at historical deadline rushes in the industry it would be recommended to have signed up for your solar system no later than the 1st of December 2019.

As long as you own your solar energy system, you are eligible for the solar investment tax credit. Even if you don’t have enough tax liability to claim the entire credit in one year, you can “roll over” the remaining credits into future years for as long as the tax credit is in effect.

How do I claim the investment tax credit?

You claim the investment tax credit for solar when you file your yearly federal tax return. Remember to let your accountant know you’ve gone solar in the past year, or if you file your own taxes make sure that you check the box for the ITC.

You are eligible for the Federal ITC as long as you own your solar energy system, rather than lease it.

If your federal tax liability is lower than the total amount of your ITC savings, you can still take advantage of it by carrying over any remaining credits to the following year.

Here’s an example: You pay $20,000 to install a solar system on your home in 2018, which means you are eligible for a $6,000 federal solar tax credit. If your federal tax liability for 2018 is only $4,500, you will owe no federal taxes that year, and in 2019, you will reduce your tax liability by $1,500.

Updated as of 4/16/2019

Tesla/Solar City Leaving the Arizona Market?

Tesla/Solar City is leaving the Arizona Market, in addition, Tesla plans to close 13 solar installation facilities in California, Maryland, New Jersey, Texas, New York, New Hampshire, Connecticut, and Delaware, Reuters reports. 

What does that mean for me?

With the exit of Tesla from the market, any warranty work will still be honored on your system but it will be completed by a local install company much like Great Home Solar! 

What if I want Solar?

This is where you get super lucky! Veteran Solar, has the ability to quote out every system on the market making us your one-stop shop for a Great Solar system here in the valley. We can quote out SunRun, Sunpower, Dividend, and Mosaic system. We have panels ranging from 310W Q-Cell to 360W Sunpower Panels. Allowing us to find the right fit for your needs! 

Reach out to us today for your FREE consultation! 

Arizona Market

The Why... Why did we go solar?

We created Veteran Solar because we love helping people save money. One of our favorite motivational talks to give to our brothers and sisters in arms is our Money Talk. It helped people save money, invest for the future, and pay off debt faster. It motivated people to take charge of their finances.

Veteran Solar is another way for us to serve people to save money. In the field we’ve found that most people hate dealing with the electric company, not knowing what their bill is going to be next month and paying a bill with sometimes ridiculous charges on it.

Currently, over 80% of America’s energy is produced by non-renewable sources, ~60% fossil fuels and ~20 nuclear. All of that waste goes into the atmosphere of the earth.

Solar is the best way to relieve the stress and pain that comes with the electric bill and be good to the earth. The world is moving in a way where we take better care of the planet and give more power to the people. Helping people own their own clean power plant on the roof of their home, absorbing energy from the sun that’s already there is part of our solution to help you and the planet.

Our vision is to see solar on the roof of every home in America that could use it, and create a network of sharing power between homes!