30% Solar Tax Credit Ends This Year!
Editor’s note: Beginning January 1 2020 the 30% federal tax credit for solar has been reduced to 26%.
Let’s face it, you are going to install solar panels on your home – The question is just when you’ll do it.
After all, no one likes paying for power each month – it’s a total drag opening up the bill and seeing how much money you owe for something you have little control over. If you could go to the local “discount energy store” and shop for a better, lower power rate, you would’ve done it by now.
Unfortunately for most Texas residents, however, you have to pay what you have to pay, and there’s little been very little you could do about it. That is, until recently…
Let’s imagine that you haven’t heard about solar power, and you didn’t realize that the cost of solar panels has been getting more and more affordable over the past 5 years, and that local utilities will pay you up to thousands of dollars to go solar on your home. Heck, you probably also didn’t know that the U.S. government is offering what equates to a 30% discount off the total cost of a home solar power system.
In fact, the U.S. federal government offers a tax credit to both home and business owners who install solar power systems. Worth 30% of the total system cost including product and installation, the Residential Renewable Energy Tax Credit is only available to homeowners that go solar before the end of 2019.
But you don’t want to wait until the end of the year to look into saving with solar. Remember, every day that passes without any solar panels installed on your roof is a day that you are giving your hard-earned money to the local power company. And it all adds up!
For instance, if you’re like most Texas homeowners who pay a monthly power bill of $137 dollars on average, you’ll spend $8,000 dollars on power over just the next 5 years!
Worse, over 12 years – the same period of time your children will take to go from primary school to high school graduate – you’ll give over $19,000 dollars of your money to the local power company!
$137 dollar power bill x 12 months x 12 years = $19,728 dollars
Wouldn’t it be nice to keep some of that money for yourself?
Wells Solar can help! Let us provide you with a free solar evaluation about going solar on your home and you’ll see why now is the perfect time.
Contact us to schedule a free, no-obligation solar consultation.
About Wells Solar
Founded in 2014 in Austin, Wells Solar & Electrical Services is a family-owned establishment committed to installing high-quality solar power solutions that everyone can afford. The company also offers a full suite of solar panel service, maintenance and repair to ensure your solar investment provides the maximum return over its 25-year life. Find out why Wells Does Solar Better™ by visiting wellssolar.com.