Monthly Archives: June 2019

The federal solar tax credit offers huge savings on PV installation. Claim it, and you can reduce your income tax liability by 30 percent of your photovoltaic system costs – and the incentive has no cap on value.

But if you want to take advantage of the full 30 percent federal investment tax credit (ITC), you’ll need to act fast. Put off your PV installation for too much longer, and you won’t save as much with the solar tax credit.

Projects Must Begin By December 31, 2019

Thanks to a recent change in the ITC rules, you have a little more time to qualify for the full 30 percent solar tax incentive. The requirement to have your photovoltaic system in service by the end of the year is gone – now, you simply need to begin your PV installation by December 31, 2019.

What happens if you miss the deadline? You can still claim the federal solar incentive, but your tax credit will be smaller:

Begin your project between January 1, 2020 and December 31, 2020, and you’ll be eligible for a 26 percent credit. Start your PV installation in 2021, and you can claim 22 percent of your investment costs on your federal income taxes. If you wait until 2022, you won’t be able to benefit from the solar ITC.

Qualifying for the 30% Solar Tax Credit

To the IRS, beginning your PV installation project involves more than researching your options and scheduling a consultation with a professional photovoltaic contractor.

To claim the 30 percent solar tax incentive, you need to meet one of the following by the end of 2019:

• The “Physical Work Test” – which basically requires completion of a significant amount of the photovoltaic project
• The “Five Percent Safe Harbor” guideline – which involves paying or incurring at least five percent of your PV installation costs

In addition, you must own your photovoltaic system. You can pay with cash or obtain financing, but leasing isn’t an option. If you choose a solar lease, you won’t be able claim the federal solar ITC – the leasing company will get the savings.

How to Claim the Solar Tax Credit

To claim the solar ITC on your federal income taxes, you’ll need to complete IRS Form 5965 and send it in. The document is relatively easy to understand, and the IRS provides helpful instructions.

Despite this, you may not want to handle the paperwork on your own. The IRS isn’t all that forgiving of mistakes, and any error could prevent you from qualifying for the full 30 percent solar tax incentive. Working with an accountant or tax professional could be in your best interests.

However, if you only need assistance with the federal ITC form, turn to the Intermountain Wind & Solar team.

We’re not tax experts by any means, but we’re well-acquainted with the federal solar investment tax credit and can help you fill out the paperwork properly. We can also answer your questions about financial incentives for going solar in Utah, Idaho, Nevada, Oregon or Wyoming.

For a no-cost, no-obligation consultation to discuss PV installation – and to begin your photovoltaic power project soon enough to take advantage of the full 30 percent federal solar tax credit – contact Intermountain Wind & Solar today.

Are you looking for a solar contractor? Take care when making your choice of which professional to hire. Installing a home PV system is a sizeable investment in your home and your future, and you want to spend your money wisely.

If you’re not sure where to start, this step-by-step guide should help you find the right photovoltaic provider to meet your needs.

Step 1: Compile a List of Local Solar Contractors

First of all, do a Google search for local solar providers. Include your city and state to ensure the results offer service in your area. Chances are, you’ll come up with quite a few options, so make a list.

Step 2: Examine Solar Contractor Credentials

Next, check the website of each photovoltaic provider to see how long they’ve been in business. Look at their qualifications, too – the contractor you hire should have a license to work in your state and certification by the North American Board of Certified Energy Practitioners (NABCEP). With a NABCEP-certified contractor, you can count on the highest standards of professionalism and workmanship.

Step 3: Check Customer Reviews and Ratings

After examining each photovoltaic provider’s credentials, take a look at their company reviews. For a smooth and easy switch to solar power, you need to choose a solar contractor with a reputation for stellar customer service. Don’t be afraid to ask for references, and make sure to check the company’s rating with the Better Business Bureau.

Step 4: Schedule Professional Consultations

Based on all the information you researched in the previous steps, you should be able to narrow down your list to your top solar contractor picks. Contact at least a few and schedule professional home PV system consultations. When each photovoltaic provider visits your property for a solar site evaluation, ask questions about their services.

Step 5: Compare Solar Installation Quotes

To figure out which solar contractor comes in at the lowest project cost, compare the price per watt (PPW) for each home PV system installation estimate. If this isn’t included in the bid, simply take the gross total price and divide by the number of watts of power the PV system provides. But price isn’t the only important factor – quality matters just as much. So, make sure the estimates are for high-quality solar equipment.

If you’re searching for a reputable solar contractor and you live in Utah, Idaho, Nevada, Oregon or Wyoming, schedule a professional consultation with Intermountain Wind & Solar.

The leading Intermountain West photovoltaic provider for over a decade, Intermountain Wind & Solar has excellent customer reviews and an A+ rating from the Better Business Bureau. Our contractors are NABCEP-certified (Mike Allen – Cert. #032611-04, Mike Telford – Cert. #092411-142) and we never outsource our work.

With Intermountain Wind & Solar, you can get a highly-efficient home PV system with favorable warranty coverage for an affordable price. For a no-cost, no-obligation solar contractor consultation, contact us today.