A Look at the Tax Benefits of Going Solar

Tax Benefits of Going Solar in North Central FloridaMany residents of North Central Florida are already aware of the energy-saving and environmental benefits of installing solar panels near Clermont. Since solar energy is free and renewable, you reduce your utility bills and your carbon footprint when you harness it to heat your water and light your home. But did you know that you can also receive tax credits for installing solar panels and other solar equipment?

When you install a solar electric system or solar water heater, you can receive a tax credit of 30%. Solar attic fans are also eligible for tax credits of 30%. Installing a solar tubular skylight can get you a tax credit of 10%. You will need to fill out IRS form 5695 and file it with your federal taxes in order to receive the credit. Visit EnergyStar.gov for more information about the process of saving money on your taxes with solar power.

Categories: Tax Benefits

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