Description: Electrician | Hytek Energy LLC | United States Electrical contractor and solar installation company based out of levittown pennsylvania 19055
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1) 30 percent federal tax credit . By installing a solar system at your home, eligible taxpayers can receive a 30 percent federal tax credit on qualified expenses through 2019. That rate will decrease to 26 percent in 2020 and 22 percent in 2021. So if you want the most for your tax credit dollar, you have limited time to act. Four percent reductions in successive years after 2019 may not sound like much, but when we’re dealing with systems that can be priced in the tens of thousands of dollars, those sm
2) Net metering. This may bring the greatest joy to solar consumers. When your solar panels generate more electricity than your home can consume at any one time, that excess energy is sent back to the power grid , and you are credited for it on your power bill. Meanwhile, if your home needs more energy than your panels can produce at any one time (or at night, when your home can’t produce any), you draw the power that you need from the grid. This net metering process allows you to benefit from all the ene
3) Solar renewable energy credits (SRECs). Homeowners with solar panels receive one renewable energy credit for every 1,000 kilowatt hours their solar system produces, with the value of the SREC being based on market value.. when you do nothing to receive it once your solar panels are installed, any money your panels generate in that manner is value added.