Federal Solar Investment Tax Credit: Don’t run out of time in 2015!
If you want your 30% federal solar investment tax credit on the cost of going solar in 2015 your solar installation must be completed by December 31st, 2015.
One of the many benefits of going solar is receiving a federal tax credit of 30% of the price you pay after all other rebates and incentives have been applied. This means that a $10,000 solar PV system will result in a federal tax credit of $3,000 that you can claim for this tax year.
The federal tax credit applies to both residential and commercial solar photovoltaic projects. Contact your solar specialists at Valley Solar to get the right solar solution for your home or business in time to save money in 2015.
Now is the Time to Invest in Solar
The price of solar is at an all-time low. The Department of Energy’s Lawrence Berkeley National Laboratory (Berkeley Lab) recently released its annual photovoltaic cost tracking report, Tracking the Sun. The report highlighted the lowering cost of solar in the United States, noting that prices fell anywhere from 10 to 20 percent during 2014.
Despite this positive news, a June Forbes article recently offered a less hopeful outlook, examining the rising cost of solar panels in Europe, the world’s largest solar market. “Prices for solar panels in the European spot market have risen by about 6% so far this year” the article states, acknowledging the reversal of the decade long decline in the price of solar on the European market. “Over the past two years, at least four major Chinese solar manufacturers have declared bankruptcy,” the article continues. These bankruptcies include Suntech Power, once the world’s largest solar panel manufacturer. The problem, a Grist article explains, is not a lack of demand, but too much competition among solar manufacturers, which in turn drives solar panel prices to “unsustainably low levels.” Less competition among solar manufacturers could translate soon to higher solar prices for the average homeowner. With the continued high volatility in Asian markets, now is the time to invest in solar.
Beat the Solar Rush: Schedule Your Solar Installation Today
As 2015 draws to a close, solar companies may see an increase in the number of solar installations. This means busier financing institutions and more impacted permitting agencies, likely contributing to increased solar installation times as people rush to install their solar PV systems before they run out of time to get their 30% federal tax credit for 2015. If you are considering solar for your home or business, act soon to secure your solar PV system Federal Solar Investment Tax Credit.
Contact Valley Solar, your trusted solar specialists, to take advantage of your 2015 Federal Solar Investment Tax Credit!