Homeowners who don’t have solar on their house are running out of reasons to delay, not the least of which includes lowering their federal tax liability.
There are many reasons why electricity customers choose to put solar panels on their home. Reasons range from a desire to be environmentally friendly to wanting to protect themselves from continually rising power costs. Fortunately, no matter the reason A.M. Sun Solar experts make it easy work out the financial aspect of choosing and installing solar.
Homeowners can pay cash, finance or lease their panels with no money down. A.M. Sun Solar experts work closely with the customer to ensure they install a system that fits their power needs.
And thanks to Congress and President Obama, these same homeowners can claim a credit of 30% of qualified expenditures for a solar power system that is owned and used as a primary residence by the taxpayer. If the installation is at a new home, the “placed in service” date is the date of occupancy by the homeowner. Expenditures include labor costs for on-site preparation, assembly or original system installation, and for piping or wiring to interconnect a system to the home.
Event better, if the federal tax credit exceeds tax liability, the excess amount may be carried forward to the succeeding taxable year.
So, what many A.M. Sun Solar customers discover is that they save on electricity each month on a power system that doesn’t burden their finances. And thanks to the solar credit they get to lower their federal tax liability for at least one year.