TruHome Pros advises homeowners to use Solar Tax Credits before it’s too late

August 30 13:00 2021
Residential Solar Panel Installation Company.

This is a warning to all homeowners in Illinois, Wisconsin, and Michigan: there are only a few months remaining to install a solar energy system to be eligible for 2022 federal solar tax credits. The system must be placed into service before December 31, 2021, or the credits expire. Don’t lose the chance at these sizeable tax credits to purchase residential solar systems at significantly reduced costs. Solar panels increase property values, slash energy bills, and generate renewable energy.

TruHome Pros urges homeowners to make this investment before it’s too late. The federal solar investment tax credit (ITC) is an incentive from Uncle Sam for homeowners. It covers 26% of the cost of a solar system in non-refundable tax credits, claimed against federal income taxes. But in order to be eligible for this credit, the solar system must be installed during the tax year. There is no maximum amount that can be claimed. TruHome Pros have customers who have saved $7,000 or more on upfront costs by combining solar tax credits with their finance options. As of August 2021, the cost of installing solar panels in Illinois ranges from $13,005 to $17,595 for a standard size 5 kilowatt (kW) system at a gross price. However, the net cost of going solar could potentially be thousands of dollars less, after accounting for the 26% Federal Solar Tax Credit and state/local incentives, combined with other additional benefits over time (including increased property values). In dollar-fordollar reduction of expenses, installing solar equipment is a better idea than most people realize, and one of the best tax decisions they can make.

Thanks to technological advances in solar panel manufacturing, the average cost of solar panels has dropped significantly in the past few years. This is good news, but no time for complacency. A recent report on the solar industry from Bloomberg New Energy Finance (BNEF) found that the price of installing solar systems might actually increase in the future at the same time as the federal tax credits expire. This makes installing solar panel equipment a priority for every American homeowner, and the purchasing decisions a matter of urgency. With a looming expiration date on 2022 credits, now is the time to “go solar”. But what about the homeowners who don’t have enough money upfront? They could potentially be unable to claim the credit on their own taxes. That’s not right. They are entitled to receive their tax credits. TruHome Pros can help by providing a lease-to-own option that will allow average homeowners to pay as little as $0 down, and save thousands of dollars in the long run.

In order to take advantage of this credit before it disappears, everyone needs a professional installer who can walk them through all the options and answer any questions they have. TruHome Pros are proud to offer their customers an array of financing options so they can pay for their solar system over time and not have one large payment at installation.

Contact TruHome Pros today.

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Company Name: TruHome Pros
Contact Person: Thomas Anzalone
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Phone: 8479944511
Country: United States