Spring is here, and with spring comes something that people around the country dread. No, we’re not talking about seasonal allergies, we’re talking about Tax Day. April 15th is a day that many people despise every year—having to spend hours going through documents to complete a tax return, then stand in a long line at the post office in order to mail it, and possibly even have to attach a large check to the return in order to make sure you’ve paid your taxes to Uncle Sam.
However, what if we told you there was a way you could save money on your taxes, and even put more money back into your pocket at the same time? There is: by switching to solar before April 15th! At SunPower by Sea Bright Solar, we’re offering a limited-time promotion where those who purchase or lease a qualifying solar panel system can receive a $1,040 rebate if they sign their contract before Tax Day.
How It Works
If you want to take advantage of this outstanding opportunity to save even more on switching to solar, here’s how you can do so. If you sign up to either purchase or lease a SunPower® Equinox™ solar energy system with X-Series panels between now and April 15th, 2019, you’ll receive a form when you sign your contract to begin the project. Fill out that form and send it back to us within 90 days of receiving the final invoice, and we’ll mail you a rebate for $1,040. It’s that simple!
Why Are We Doing This?
We’re celebrating the final year of the federal solar investment tax credit at its largest amount. For the last several years, those who have installed new solar panels could claim up to 30 percent of the costs of their new equipment as a tax credit, with no cap or size limit. The bigger your system, the more you could claim! However, 2019 is the final year in which the ITC is going to be at its maximum—barring an extension which keeps the program running longer, the tax credit will begin to sunset at the end of this year. Starting in 2020, owners of new systems will only be able to claim up to 26 percent of the cost of their solar panel installation as a tax credit. In 2021, that credit will drop again down to just 22 percent, and from 2022 onwards, the credit will disappear for residential installations entirely, and drop to just 10 percent for commercial installations.
For years, the ITC has allowed homeowners to save a significant chunk of money on their taxes by enabling them to claim a substantial credit towards what they owe. This has led to bigger refund checks, reduced liability, and an even lower amount of time before your solar panels pay for themselves. However, with the program slated to end, the opportunity to take advantage of this savings is growing to a close, and that means there may not be a better opportunity to claim both this level of savings and a significant mail-in rebate again.
Interested in making the switch to solar? Call SunPower by Sea Bright Solar at (732) 253-4052 today to schedule a consultation with one of our New York solar installation experts.