The Tax Benefits of Going Solar in Wildomar
SunPower® by Precis Helps the Moreno Valley Go Green for Less
Adding residential solar panels to your home is always a smart, money-saving investment. Even April 15, the dreaded income tax day of approaches, you’ll have reasons to celebrate your newfound energy efficiency.
If you install solar panels this year, you are entitled to a one-time federal tax credit of 30% off the total cost, including labor and installation. Learn more by calling our Wildomar solar experts at (951) 800-7926!
SunPower® by Precis will provide you with the Manufacturer Certification Statement required to obtain this deduction. Once your panels are installed, the savings continue with a substantially lower monthly energy bill. You may even be able to eliminate your monthly power bill completely!
Additional Tax Savings When You Sell Your Home
Having a residential solar energy system on your property is known as a capital improvement which adds to your property’s value. This means that you can potentially sell your home faster and for more than homes without solar.
Your investment in efficient, clean solar power also adds to the tax basis of your home. If you sell the home, this tax basis investment can be deducted from the sales price, reducing the amount of the price counted as profit. This reduces the taxes taken from the sale and may be able to help you avoid capital gains taxes on appreciation.