Bend, OR – Sunlight Solar Energy is pround to announce it has installed Bend’s first electric charging station for Electric Vehicles and Plug-in Hybrid Electric Vehicles.
When is the best time to install solar to take the best advantage of your solar tax credit? The answer is probably the end of a calendar year.
You get to take the Federal Solar Tax Credit when you file your taxes for the tax year you install and power on your solar system. This means you make the full solar investment up front. If you make this investment early in the calendar year, you have to wait all the way until next tax season to claim your credit. However, you can maximize cash flow on your investment by installing and powering your system on toward the end of a calendar year. This way, you can file your taxes as soon as possible in tax season and claim your credit.
For taxpayers who have tax withheld by an employer throughout the year, the tax credit will translate to a tax refund. For those who withhold their own taxes and pay in estimated increments, or in a lump sum, the tax credit will either allow you a tax refund, or decrease the amount you need to pay in a lump sum.
To learn more about the Federal Tax Credit, visit our Tax Credit page.
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Looking for a way to finance your tax credit at 0% interested until you receive your tax refund? Check out Sungage Financial’s purpose built solar loan product.
The Federal Solar Tax Credit decreases the cost of a solar project by 30% by decreasing the amount of taxes you pay.