Solar panels not only can save you money but are good for the environment. Installing solar systems, however, can be pricey. There are ways to get them at a reduced rate. Some aspects of the system may even be free. The following information describes how you can get free solar panels from the government.
How Do You Get Free Solar Panels?
Since there are many benefits to using solar power, the government wants as many people as possible to use this method. Since it’s expensive, the government now offers federal tax breaks to help homeowners receive their free solar panels. The Federal Residential Tax Credit is basically a type of reward system. You can claim your solar tax credit the same year you have the system installed.
To be part of this program, a homeowner would need to install a solar system. You would then receive a tax credit from the government. This becomes a reduction of any income tax you may owe. While the overall tax credit is worth about 30 percent of the total cost for a solar system, it normally will completely cover the cost of the panels. It will usually cover contractor costs for the installation process as well.
Who Can Qualify?
The government’s program is geared toward the middle class that otherwise would not likely be able to afford solar panels. It’s important to note that this program is currently scheduled to end in 2022. Besides tax rebates there are also federal grant programs that you may be eligible for.
To see if you qualify for the various programs you may want to start by contacting your local utility company. There are also several free online sites that will allow you to see if you qualify for these different offers. Factors that may determine if you qualify would be your annual income and the type of home you live in.
What Steps Do You Take to Get Started?
To receive the panels homeowners must first have a solar system installed in their home. If it is too costly to buy the system, another option is to lease the solar system instead of buying it. It’s important to keep every receipt from all aspects of the project. The more you spend on a solar system, the larger your tax credit will be.
There is also what is referred to as power-purchase agreement. Once you sign one of these agreements, a company will install the panels for free. On top of that, your utility bills will probably be considerably lower. It’s important to note, however, that in this case you don’t actually own the panels. Since you’re technically leasing them you can’t claim them for tax credits.
There are several possible programs and offers that will enable you to receive panels at no cost. Besides federal tax programs and grants, there may be state rebate programs that will help provide you with solar panels for free or a reduced cost.
