If you are in Utah, you are seeing more and more solar companies promoting their services. Solar panels are turning out to be an excellent investment in Utah, but there are some benefits that you may not know about. One benefit is the solar tax credit for installing solar panels in Utah.
Utah is a great state for going solar . Not only is there a tax credit for solar panels in Utah, there's also no income tax. Solar saves money throughout the year and it is a great investment. It can even save on your home insurance.
In Utah, the average homeowner will save an estimated $1,000 per year on their electricity bill when they install solar panels on their home or business.
Because of its location, solar in Utah gets incredible sun exposure and it uses less than 5% of the electricity Utah uses per year.
Solar panels in Utahans opposed to solar panels in other states produces more power by utilizing the sun's rays more efficiently which means they use less energy.
Utah has a lot of sunlight and is a great state for solar panel installations.
What is the Utah tax credit?
In Utah, there is a tax credit available for the purchase of solar panels. In addition to this, there is a 20% rebate on solar installation in Utah. The use of solar energy in Utah can save you about $1,000 per year in electricity costs if your utility bills are under a certain amount a month.
Also, if you live in one of the top ten largest cities in Utah, your utility will pay you $500 to install solar panel systems on your roofs. This is only available if you use an energy sever that provides energy from renewable resources such as solar or wind or water (Hydro-energy).
This makes Utah a great state to go solar. If you live in Utah, you should check with your city to see if they have any programs that will help you offset the costs of your solar installation by providing grant money.
Utah has the highest rate of sunlight per square foot than any other state, more than 2000 hours of sunlight per year. This makes Utah perfect for solar panel installations.
This is because more sunlight means faster production of energy which means saving on energy costs (you use less electricity).
How does the Utah tax credit for solar panels work?
The Utah tax credit for solar panels is 20% of the initial purchase price. You can receive a maximum of $1,000 credit for your purchase. There is no tax credit on solar panels that you purchase and then sell to someone else.
The Utah tax credit for solar panels must be used within 3 years of the purchase date of the solar panels.
You must also have or install a qualified renewable energy system that uses solar, wind or water (hydro). Your system must serve your home or business to be able to claim the IRS Solar Tax Credit.
How to apply for the solar tax credit?
To receive the Utah Solar Tax Credit, you must contact your utility company and ask for a form called the "QST-40". The form is required for all users. This form is used to verify that you are an eligible solar user.
Then , take the form to a solar installer, a tax advisor or a Certified Energy Advisor (CPA) and get them to sign off on your solar installation. The CPA must be licensed by the State of Utah and certified through the Energy Division of the Utah Department of Commerce to get you this tax credit.
What are the benefits of this tax credit? This tax credit is a benefit of going solar in Utah. In addition to the tax credit, there are other benefits to going solar which will save you money on your monthly utility bill.
Other benefits of going solar in Utah include:
* Home or business owners will save an estimated $1,000 per year on their energy costs. This is because the system you purchase will produce energy for a long time and use less energy than a system that produces less electricity from the sun's rays.
* You can get a credit of up to $1,000 for your purchase.
* You can claim the US Federal Tax Credit. This tax credit can be increased up to 30% depending on your utility's energy source (renewable) and the size of your installation (the amount of energy generated.) You will receive a check from the IRS or get a reduction in taxes owed.
* You can receive grant money to offset the cost of your solar installation. The grant money varies from city to city and state to state.
* Your utility will pay you a rebate to have a solar system installed for your home or business. This money goes back to you as a check or payment that you can use as you wish, such as paying off debt, paying bills, saving for retirement etc...
* The installation of the solar panels requires less maintenance than other systems because it does not require ductwork or wiring.
Also, most solar companies offer rebates for the installation of solar panels. Some companies will offer up to $5,000 in rebates. This can be a great savings for you and especially helpful if you don't have a lot of money in an emergency.
Financial option is also available for those who cannot afford to buy the panels up front. Some companies also offer a leasing option where you pay a monthly fee and you don't have to worry about upgrading panels as newer and more efficient technology comes out.
Does it worth to get solar panels?
In Utah, solar panels can save you money on your electric bill. Solar panels in Utah will produce electricity from the sun's rays more efficiently, which means they use less electricity to produce energy.
In addition to this, a system that produces more energy will cost less over time because you use less energy. This is true because solar panels are a very efficient system and therefore use less electricity.
This means that over time, your electric bill will be lower than if you used other systems such as an electric heating system or electric furnace.
The bottom line is that if you are a Utah resident , you should definitely get solar panels. This will help you lower your electricity bill and save money on this small utility cost that everyone has in their home or business.
If you are in or near Utah, then go ahead and get started with the process of getting the best solar panels in the nation which is available in Utah.
Smart Energy can help you buy and install the best solar panels in Utah. We can install solar panels on your roof and help you take advantage of this tax credit to carbon offset your home or business. Get a free consultation today!