How to Take Advantage of the Solar Tax Credit Extension

solar panels installation

What is The Benefit of Solar Panels?

It has become more and more apparent that the human race is drastically and detrimentally affecting the planet. Unfortunately, our behavior has caused the earth to become heated at a frightening level. Our behavior has also hurt wildlife, polluted the oceans, and even affected the air we breathe. It is our responsibility to fix the things that we can and make better decisions for the future. 

Since that is the case, savvy Americans have chosen to install solar panels. The burning of natural gas and coal accounts for about 75% of the greenhouse gas emissions. Solar panels use the natural energy that comes from the sun to bring energy to the home. This does away with a large part of the need for oil, coal, and natural gas. Apart from the fact that this is great for the planet, great incentives have inspired other homeowners to purchase and install solar panels.

Government Incentives

The US government has realized the crucial role that the economy has to play in energy. To that degree, in 2005, the Energy Policy Act was created. This is a document that basically gave individual homeowners a credit incentive for installing solar panels. The tax credit was originally 30% of the installed solar panels. Since 2005, the amount has changed to a degree. In 2020, the credit percentage dropped to 26%, and it is scheduled to drop to 22% in 2022, but that still has not come into play.

What are The Requirements To Be Able to Take Advantage of The Tax Credit? 

In order to take advantage of the solar tax credit extension, you have to have the following: the solar panels installed in the same calendar year that your receive the tax credit, a solar system that is located in the US, a solar system that is at your primary or secondary residence, to be the owner of the solar system, and the solar system has to be new. 

You can install the solar panels yourself, or you can have them professionally installed. This is basically an amazing way for you to be able to receive a huge tax credit. The benefits of installing a solar system are huge. Apart from the fact that you will receive a solar tax credit extension, you will also reap the benefits of a more affordable energy cost.

Why Should You Go Solar?

Apart from the solar tax credit extension, you have to realize your responsibility for taking care of our planet. Humans have done so much damage, and the only way to repair it is to start now. This means that we all have to do everything possible to lower our greenhouse emissions and carbon footprints. 

By installing solar panels, you will put your drop in the bucket to improve our ecosystem. Apart from that, you will also encourage your neighbors to follow your lead. The US government wants you to have solar panels, but even if there were no incentives, the planet needs more earth-savvy people who are willing to invest in a better world. A greener world means a better life for your and your descendants.

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