Know Everything About Federal Solar Tax Credit 2018

Solar tax credits or investment tax credits (ITC) allow you to reduce 30 percent of the price of solar energy system installation from your federal taxes. This incentive applies to both commercial and residential systems. You can take the credit in the initial year or anywhere in between of your five years.

How Tax Credit Extension Benefits Solar Industry?

Federal ITC was initially set up by Energy Policy Act of 2005 and was set to expire at the end of the year 2007. Series of extensions drove expiry date to the end of 2016, but the professionals believe that five-year extension would bring tremendous benefit to the solar industry. The growing popularity of effective solar energy solutions is creating a better renewable energy economy in the USA. Furthermore, with the help of ITC and other state-specific rebates, solar farms have become a profitable business for the developers. Now, this incentive is available to the homeowners in some form through the year 2021 with no cap.

2016 to 2019: The solar tax credit stays at 30 percent of the system cost.

2020: The homeowners of the newly built commercial and residential solar can reduce 26 percent of the price from their taxes.

2021: Residential and commercial solar building owners can lower 22 percent of the system cost via their taxes

2022 Onwards: Commercial solar energy systems owner can minimize 10 percent of the system cost via taxes. Also, there is no federal incentive for the residential solar systems.

How Does it Work?

As long as you are using solar energy system, you are eligible for the solar tax credit. Even if you do not possess sufficient liability to claim it in one year, you can roll over your left credits in your near future as long as there is validity. Just note that if you sign a Power Purchase Agreement (PPA) with your solar energy consulting firms, you will not receive any incentive.

Claiming Investment Tax Credit for Solar Power

Claiming process of solar incentive comes down between system owner and their respective tax person. There are no vital steps to claim it. But if you are applying for the state-specific rebates or tax incentive, then you will need to do the paperwork as per the rules of your state.

Things to Note While Hiring an Energy Saving Consultant

Enhancing your home's energy efficiency is one of the excellent long-term investments that you can make. Energy saving consultant is the reasonable option when it comes to cutting the utility bills of your businesses and homes. They help to evaluate your present energy needs and your electrical energy usage to protect your investments. These skilled experts give you a variety of options to propel you in the right direction, i.e. energy efficient future. Sustainable home designs create a structure that is more comfy, healthy, and peaceful for you.

What You Should Look for?

 a) Wide Skill Set

A consultant is the most valuable resource for your home and businesses. They are highly experienced persons in the field of energy management, engineering, and even information technology. These energy professionals monitor, measure, track, and control your electrical building loads. They advise you on the different matters like new energy saving devices, appliances, and equipment; give you the latest energy saving tips, and aware you about the existing energy standards. This results in better management, diagnostics, and implementation of the green methods.

b) Certifications or Licenses

The qualified and certified energy saving consultant will show you the proof of the certifications and clients they have got. They will work with you to explore the inexpensive solutions so that you lower your energy consumption.

c) Achievements

A professional energy consultant will give you the energy efficient home at the low rates. They usually follow a professional approach and use advanced technology to lower the energy consumption for electricity, water, and gas consumption. You can see their testimonies or reviews to check their reputation.

d) Transparent Services

Excellent energy saving consultancy gives you the best energy saving solutions and performs an in-depth audit of your home or business quickly. It helps you to save more energy. You can ask them what they offer so that you can price and plan as per this. The right consultant will also give you customized energy management and adapt to your unique business challenges and needs to render an outstanding outcome.

How to choose energy-saving consultants?

An energy efficiency consultant is your firsts step to save your money on your big energy bills, to make your home and office energy efficient, choose a company that can provide easy and early up-gradation facilities in the ambit of laws and rules. Do not final the first company that comes to you, check our different companies and make a wise selection after comparing different companies. After deep analysis and comparison, it will best for you to select a company which full-fill all your different standards. 

To make an appropriate choice for the company, you can search for the history of the company and different other reviews, ask your company for different testimonials and other references from the past customers. The purpose of hiring an energy consultancy firm gets solved only when a right choice on energy saving solutions is made and making this selection right depends in some different factors that one must see in different consultancies.

1) Qualification: Making energy audits and establishing alternate energy plants is not a theoretical concept but it is a scientific concept. Establishing an energy plant is not a concept that a layman can understand, but well qualified and educated staff is required to establish alternative energy plants.

2) Confidentiality: Choose energy saving consultants, who agree to maintain confidentiality about your company, go for a company which agrees to keep secret all your confidential data.

3) Past Work Experience: Before choosing energy-saving consultants, do not forget to check out their past successful Implementations. If the company is best at its services, for sure, it will have a successful past with successful implementations.

4) Evaluation of Cost: different energy saving solutions have their, own cost, one must evaluate companies for it charges, and they expect for their efficient services. Make a deep evaluation before making the final selection.

If you are searching to hire reliable company which can provide, energy audits and helps you to establish energy saving plan, and alternate energy plants, Custom Energy Solution is the right choice to pick because this is one of the best energy saving provider with reliable energy auditing and other services.

: Benefits of Home Energy Use Comparisons

Nowadays, many people are eager to make their home more efficient and save money but are not sure where to start. They are hiring skilled energy management consultants to manage their energy properly. Home energy use comparisons offer valuable details to the diverse people and minimize electricity cost. For example, the economists can quickly evaluate how the revenue gets distributed and what technique to use to control the energy bills. On the other hand, the homeowners also need comparison reports and analysis to find out how to lower the energy consumption and save money on the power bills. They help them identify which appliances cost you more bills and what to do next.

Technology is continually changing with time. With the innovation of the computer, things have gone far away. Now people can get information quickly and easily anywhere. Thus it is vital that people would find the best way to make home energy comparisons more accessible to the homeowners. The different calculating programs today will help you get the energy use comparisons that you require. These programs calculate your home energy usage depending on the details you offer. Few programs also provide a comparison with other homes that let you know that whether you are effectively consuming the power or not.

Many studies have reported that by comparing our home energy usage to similar homes, we can judge our quality of living and reduce the energy consumption by 7%. People are now hiring the top energy consulting firms as they bring the best effective practices to the home and business so that you have significant savings. The home energy use calculator also provides you with the extensive home energy use comparison reports and give you great tricks on how to lower your power costs. With this, you can quickly identify which appliance to switch off and which one to operate. It also shows you how energy gets consumed in your home. Many engineers and architects also use home energy reports to design the houses in such a way that makes them energy efficient. With these powerful tools, they ensure that the homes they are constructing are not a high cost for the owner. They do not just focus on the design itself, but the materials used as they know that the diverse kinds of materials used to make the home hugely lower the rates of cooling and heating.

Many studies have even reported that the cost of climate control accounts as the larger part of the average power bills. The home energy use comparison programs guarantee you that the home will not need much money to keep it comfy. It also points out the energy mistakes and opens up a few golden opportunities that help you reap the benefits of the alternative energy sources. These programs help you to get free of cost energy from the environment and let you implement the diverse cost-cutting methods.

How Solar Energy Management Consultants improves Value of your Home or Business?

Solar power is experiencing a considerable rise throughout out the globe. When you hire the solar energy management consultants, they help you lower the carbon emissions, lower dependence on fossils, enhance off-grid energy access, and also diversify the power generation mix. Due to the advancement in grid integration and storage technology, there is a rapid drop in the cost of solar photovoltaic technology worldwide. The benefit includes no need to transport fuel to the power plants and elimination of transmission costs where mini-grids/off-grid units are made to serve the local communities.

The businesses know the importance of implementing renewable energy technologies. Almost every organization nowadays is taking a big step towards lowering their environmental impact by switching towards solar energy in every aspect of business operation. The solar consultants offer the best guidance to the businesses and homes. The professional renewable energy consultants offer the best solar energy solutions to meet the energy needs with less environmental impact. They solve issues and enhance the performance of the business so that they experience immense growth. These skilled persons allow the firms to make the sound investment and make good strategic decisions in an eco-friendly way.

Unlike traditional power, the solar panels do not pollute the environment with harmful greenhouse gas emissions plus, there is minimal maintenance associated with solar. Once the professional solar energy management consultant installs the equipment, there is very little you've to do. You don't even need to schedule regular maintenance checks. It let you generate your own power with the sun power. There are also many incentives offered by the government for buying the solar panels for the home or business.

Besides saving money on your electricity bills, solar power also improves the value of your home or business when you sell them in the future. Your system will pay for itself in the five to seven years, and then you will enjoy the free of cost power for the whole 25+ years of your life. Solar panels provide a significant amount of savings for the business and homeowners. The seasoned solar energy management consultants will show you how much power gets reduced by switching to solar.

Read more: Reasons to hire Solar Energy Management Consultant for your business?