Currently, many homeowners are assessing what home improvements and upgrades they can still take on by the end of the year. For some, it’s a task as straightforward as replacing an old wooden fence. Others are thinking a bit bigger, like going solar. A solar installation is not as an expensive endeavor as it was in years past, which is only one reason why more and more homeowners are considering making the switch.
Are you ready to go solar in 2018? Let’s take a look at the main reasons why people are installing solar energy systems in Scottsdale, AZ.
The solar tax credit for 2018
Did you know that if you go solar in 2018, you can get a 30 percent federal solar tax credit? Tax reform legislation passed by Congress will change how mortgage interest tax deductions are calculated in 2018. For homeowners who decide to go solar in 2018, this means the 30 percent solar investment tax credit is still in place. Note that the credit is scheduled to drop to 26 percent after 2019, and to 10 percent in 2021.
The 30 percent solar tax credit will provide extra tax relief for many homeowners. Keep in mind that this credit is not a tax deduction, meaning it’s a credit that can be used toward any taxes you may owe to the IRS for 2018.
Save money on electric bills
Once you get your solar installation, you can start saving money on your monthly utility bills. HVAC systems typically go through heavy use during the hot summer months, and again when the cold winter months roll around. So, if your solar panels were installed on your home earlier this year, then it’s likely you’ve already noticed a drop in your cooling bills. The good news is that you can still save money with solar in the winter. True, there may not be as much sunlight in the winter, and your solar production will be lower than during the summer, but you may see a small decrease in your electric bills during the fall and winter.
Boost the value of your home
Whether you plan to sell your home soon or will be staying put for a while, installing a solar energy system in 2018 can do wonders for your property value. How much can the presence of working solar panels increase your home’s value? On average, homebuyers are willing to pay an additional $12,000 to $15,000 for a house fitted with solar panels. If the homeowner took the time to install and maintain their solar setup, then the homebuyer is more likely to understand the cost of such an investment.
Congratulations on your interest in solar energy systems in Scottsdale, AZ! This is one investment you won’t regret. Before moving forward, contact the knowledgeable team at Aneva Solar to schedule a free consultation and evaluation. We are here to provide you with everything you need to know about solar system customization. Call us anytime with questions or to book a time to meet one of our solar specialists!