Thinking about putting some solar panels on your roof?
It makes a lot of sense.
Harnessing the power of the sun to create electricity is good for the environment, good for your electricity bill, and good for your wallet.
You see, you are eligible for a generous 30-percent residential tax credit when you install solar equipment on your residence.
Want to learn more about the IRS rules that govern the money-saving tax credit offer? Easy. Take a minute and read my new article titled Q&A: Claim 30% Tax Credit for a New Roof to Hold Solar Panels.
Three ways our fact-filled article can help you:
- You’ll learn what qualifies, and what doesn’t, for your tax break. The 30-percent tax credit is yours when you install the solar equipment. Installation of a new roof, whose components are necessary for the installation, does qualify for the tax credit. But the new roof, if not entirely solar, does not create costs you can use for the credit. You’ll get all the details when you read the full article.
- We’ll explain why the term “solar panel” is so important. Yes. Your tax credit is good for solar panel installation. But the law doesn’t refer to property or structures. All will be explained when you read the full article.
- We’ll tell you why the time to act is now. The fact is, the 30-percent residential solar credit is reduced over time and terminates in 2022 and thereafter. If you’re thinking of taking advantage of your tax credit for a solar installation you own, you need to act quickly. Your solar installation must be in use before December 31! You’ll get the whole story when you read the full article.