Burlington, MA -- (ReleaseWire) -- 11/15/2022 --Have you been thinking about a solar installation for your property? If so, now is the time to act! The owners of Go Solar MA, a leading provider of residential solar installations, is happy to educate consumers on the new federal tax credit for solar. As part of the 2022 Inflation Reduction Act, the Federal Solar Investment Tax Credit is now 30% until 2032.
What does this mean for consumers? Simply put, you can expect to claim 30% of your solar installation costs as a credit on your federal taxes, thereby reducing your tax bill and increasing any refunds owed. "This is an excellent opportunity for homeowners who were maybe hesitant about solar due to its installation costs," note the owners of Go Solar MA. "A thirty percent credit means saving three thousand dollars for every ten thousand spent, which makes solar now within the reach of so many homeowners."
For those unaware of the tax credit and how it works, the owners of Go Solar MA note that there was a credit in place before the act was signed in 2022. "However, the old credits allowed for a twenty-six percent credit in 2022 and then a twenty-two percent credit in 2023. That law was set to expire after that, meaning no credits for 2024 and beyond!"
The team is quick to point out that not only are credits increasing but it also gives homeowners a full decade to take advantage of those solar incentives. "This makes it easier for homeowners who might need some time to work solar installation into their budget," the owners of Go Solar MA note. "You might need that time to find financing or save a few dollars so you can pay for your solar installation in cash. It also means being able to plan on solar installation for a home you want to buy in the next few years."
They also mention that the credits extend to just about every expense involved in solar installation, not just panels. "It typically includes the cost of inverters, wiring, the racking systems, and other expenses."
The owners of Go Solar MA do offer one caution, however. "The credits are for a solar installation, not simply an agreement or price quote," they say. "That's why it's vital that homeowners plan ahead, even with that ten-year timeframe. It often takes several months to design a solar array, order the panels, get needed permits and agreements from local utilities, and then install that system. Consequently, you don't want to wait to start discussing a solar installation with a local contractor!"
They also note that the bill applies retroactively. In turn, if you installed solar at the start of or before 2022, you should be able to claim this deduction on your next tax return or the difference between any claim made and that 30%. An accountant or financial adviser can note how this might work on your return.
Along with this new credit, the owners of Go Solar MA note some added reasons to consider going solar. "Along with a tax bill reduction, homeowners should expect to see a tremendous reduction in their energy costs once they have solar installed. Additionally, property values often increase with solar panels, usually about 4% or more."
Of course, the environmental impact is one of the biggest reasons to choose solar. "Electric power plants are responsible for tons of fumes and emissions every year," they point out. "Choosing solar means reducing your carbon footprint and those emissions without sacrificing your lifestyle."
Go Solar MA is now accepting appointments for free solar installation price quotes, but the team encourages homeowners to act quickly. "We've been booking up with appointments ever since this announcement, but we know property owners want to start enjoying solar as quickly as possible." With that in mind, you're encouraged to visit their website and fill out their contact form, or just call them for your consultation.
About Go Solar MA
Go Solar MA is a solar company that is dedicated to helping people save money on their energy bills. Their team of experts can help you choose the right solar system for your home, and they will work with you to get the best possible deal on your installation. They are committed to providing excellent customer service, and they offer a wide range of solar products and services to meet your needs. If you are interested in saving money on your energy bills, Go Solar MA is the company for you. Their mailing address is 3 Hallmark Gardens, Burlington, MA 01803. Please give them a call if you'd like to get in touch at (617) 533-0885 or fill out a form on the website at https://gosolarmass.org/.
The Team at Go Solar MA Urges Homeowners to Take Advantage of the Newly Revised Federal Solar Tax Credit
Go Solar MA, a leading provider of solar installation in Massachusetts, is rolling out its latest solar power educational initiative. Company owners are urging homeowners to take advantage of the newly revised solar federal tax credit, making solar installation more affordable than ever!