2021 Solar Incentives - Renovus Solar

2021 Solar Incentives

 

If you've been putting off going solar, it's time to seriously put solar on the table. 2021 is actually a very good time to pursue solar. Why? Because the federal and state government are offering some pretty sweet incentive programs, and they aren't going to last forever. These government programs have been a huge factor in the growth of renewable energy in the last decade. The reason is simple; close to half of the total costs of a solar project can be recouped by tax credits, rebates and per-watt incentives. 

Thanks to a two-year extension included in the COVID-19 Stimulus Bill passed in December 2020, the Federal tax credit for this year is locked in at 26%. As a homeowner (or business owner), you qualify for this tax credit, allowing you to deduct a portion of your solar costs from your taxes. Pretty enticing right?

The bad news is that postponing the decision to go solar can mean that the best return on your investment can be substantially less than it is right now. There is still a great deal of volatility present due to factors such as incentive structures & regulatory uncertainty and there are no guarantees that these programs will be renewed again. Currently the federal tax credit is set to expire in 2024, so if you’ve been hemming and hawing on the topic of going solar, now would be a strategic time to make some decisions. 

Back to the good news -that’s if you’re an upstate New York resident. We’re fortunate that our solar incentives are some of the best in the country. Thanks to the NY-Sun initiative; an umbrella for most of the solar-based stimulus programs, the future looks bright for households looking to switch to clean solar power. The target is to have 50% of the state’s energy generated by renewables by the year 2030. At current growth rates that looks like a very reachable goal.

Find out how simple and affordable solar energy can be. Maximize your buying potential, save money on your electric bill and take that step in helping the environment. Reach out to our team below, and we'll happily conduct a free estimate of your energy needs.


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