Take advantage of the many solar incentives available to residents in the state of Utah to help you pay for your solar. As a solar installer in Utah, we help our clients take advantage of current solar incentives.
Federal Tax Credit For Solar
The Residential Renewable Energy Tax Credit allows a taxpayer to claim a credit of 30% of qualified expenditures of the solar power systems installation. This includes costs for on-site preparation, solar system installation, wiring and connecting the system to a home, etc. If the federal solar tax credit exceeds your tax liability, the excess amount can be carried over to next year. The credit is set to expire December 31, 2016.
Utah Solar Tax Credit
On top of the federal solar tax credit, you can also take advantage of the Renewable Energy Systems Tax Credit offered by the state of Utah. The state of Utah will give a credit of 25% of eligible system costs or $2,000, whichever is less for residential solar energy installations and 10% or $50,000, whichever is less, for commercial solar energy installations. Like the federal tax credit, it can only be applied if you have a state tax liability. The Utah solar tax credit can be carried forward for four years but is capped at $2,000. Changes to the Utah solar tax credit are being made through the HB23 Income Tax Credit Modifications bill which will contain a four-year phase-out of the tax credit from $2,000 in 2018 to $0 in 2020.
Utah Solar Incentive Program offered by Rocky Mountain Power
Rocky Mountain Power also offers an incentive in the form of a rebate. However, this rebate is offered on a lottery basis. As more and more Utah residents install solar on their homes the odds for winning the incentive lottery will go down. Currently, Rocky Mountain Power is no longer accepting incentive applications for 2016. Check https://www.rockymountainpower.net/env/nmcg/usip.html for the current status on their offerings.
Integrated Solar Solutions
With combined federal and state solar tax credits totaling 55% of the cost of installation going green in Utah is getting easier. More and more Utah residents and businesses are taking advantage of this opportunity to own their own power and are investing in a greener Utah. Integrated Solar Solutions also offers an option to help you own your power with zero down financing and other financing options to fit your needs.
Integrated Solar Solutions will assist you with the rebate paperwork!