Tax season has arrived, and many homeowners are looking for ways to save on their federal taxes. If you want to receive a fantastic deduction on your taxes next year, it is a great idea to act now and install new solar panels for your home. The federal government is encouraging home solar system installation by offering terrific tax incentives to homeowners. Your solar system contractors in The Villages, FL will be able to help you design an effective solar solution that meets the federal tax requirements.

Along with helping you save on your taxes, there are other ways that solar panels can save you money. Installing a new solar system will effectively reduce your energy bills. In addition, by reducing your reliance on traditional electricity, solar panels can help to reduce your household’s carbon footprint. Overall, solar panels are a terrific investment for any family that wants to help protect the environment while saving money every month.

There are a number of tax incentives to switching to alternative energy in Ocala. Installing a solar power system allows you to take advantage of valuable federal and state tax credits the next time you file your taxes. The Federal Solar Tax Credit allows you to deduct 30% of the total cost of your solar power system from your federal tax bill. There are also a number of state and local solar panel rebates available.

In Florida, the Solar and CHP Sales Tax Exemption offers a sales tax incentive on solar energy systems. Any solar energy system that is purchased must have been certified by the Florida Solar Energy Center. The state also offers a corporate tax credit called the Renewable Energy Production Tax Credit that offers rebates and tax deductions based upon the amount of solar energy that is produced by a corporation’s solar power system.

The tax incentives that are available for renewable energy systems can help you afford to buy a bigger solar system for your home than you thought possible. In addition, you’ll save significantly on your energy bills, and increase your home’s overall resale value.

Many 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 fill 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.