Are you considering adding a solar battery to your home’s energy system and wondering if you can benefit from tax credits for this investment or ? One of the key questions on your mind might be whether you qualify for the Residential Clean Energy Credit.
Let’s dive into how this credit applies specifically to solar batteries and why choosing A.M. Sun Solar & Roofing is a smart move for local homeowners in the San Luis Obispo area.
If you already have solar, adding a battery does not affect your NEM status and can get you a tax credit for this year!
This means you can enhance your energy storage capabilities without losing the benefits of your current net energy metering arrangement. Moreover, the tax credit can significantly offset the cost of your new battery, making it a financially savvy upgrade.
Understanding the Residential Clean Energy Credit
The Residential Clean Energy Credit is a federal tax credit designed to incentivize homeowners to invest in clean energy technologies, including solar batteries. Here’s how it works:
- Credit Percentage: The credit currently equals 30% of the costs of new, qualified clean energy property installed from 2022 through 2032.
- Phase-Down Schedule: The credit percentage will phase down to 26% for property placed in service in 2033 and 22% for property placed in service in 2034.
- Eligible Improvements: Qualified expenses include the costs of new clean energy property, such as solar electric panels, solar water heaters, wind turbines, geothermal heat pumps, fuel cells, and battery storage technology.
Who Qualifies for the Credit?
You may qualify for the Residential Clean Energy Credit if:
- The improvements are made to your main home located in the United States.
- The property is your primary place of residence.
- The property is not used for rental purposes.
Is it worth it? In short, YES! Investing in a storage system for your solar will likely come with a tax incentive, allowing you to go green while saving money at the same time. This dual benefit makes transitioning to solar energy and incorporating a battery storage solution an advantageous choice for homeowners looking to reduce their environmental impact and utility costs.
Understanding the Tax Credit Application
It’s important to note that the Residential Clean Energy Credit is applied to taxes owed. If you do not have sufficient tax liability in the current year, you may not fully benefit from the credit. However, any unused portion of the credit can be carried forward for up to 20 years. Additionally, A.M. Sun Solar & Roofing offers affordable leasing options to assist homeowners who may not directly benefit from the tax credit.
Consulting Your CPA
Given the complexities of tax credits and incentives, we recommend consulting with your CPA or tax advisor to understand how the Residential Clean Energy Credit specifically applies to your financial situation.
Why Choose A.M. Sun Solar & Roofing?
Now, let’s explore why A.M. Sun Solar & Roofing is your ideal partner for solar and battery installations:
- Local Expertise: As a trusted name in the Central Coast and throughout California, A.M. Sun Solar & Roofing understands the unique energy needs of local homeowners.
- Community Commitment: We take pride in helping our neighbors harness solar energy to reduce utility costs and environmental impact.
- Quality Products: We source high-quality solar panels and batteries from trusted manufacturers, guaranteeing durability and performance for years to come.
- Customer-Centric Approach: From consultation to installation and beyond, we prioritize your satisfaction. Our experts guide you through every step of the process, ensuring a seamless transition to clean energy.
Get Started Today!
Ready to take advantage of the Residential Clean Energy Credit and invest in a solar battery for your home? Contact A.M. Sun Solar & Roofing today to schedule a consultation. Let us help you unlock the benefits of clean, renewable energy while maximizing your tax savings.
Join countless homeowners across the Central Coast who have chosen A.M. Sun Solar & Roofing for their solar needs. Contact us now to begin your journey towards energy independence and sustainability.
More About A.M. Sun Solar & Roofing
A.M. Sun Solar & Roofing is the local leader in custom solar solutions and installations on the Central Coast. For over two decades, A.M. Sun Solar & Roofing has provided high quality, cost efficient solar energy to residences and small businesses in San Luis Obispo, Monterey, Kern, Fresno, and Santa Barbara counties. With a wide variety of financing solutions available, affordable pricing, custom solutions and complete installations from permit to interconnection, A.M. Sun Solar & Roofing is the go-to local solar company on the Central Coast.
Connect with us today at hello@amsunsolar.com, (805) 772-6786, or fill out the form below to get a FREE on-site consultation with one of our friendly solar & roofing experts.