Tax Credits for Solar Panel Upgrades

January 26, 2019

Investing in solar energy in Gonzalez and other areas throughout Texas could pay off sooner than you think. According to federal tax laws, homeowners who have installed solar systems are eligible for an Investment Tax Credit. Also known as ITC, the credit is calculated at a rate that goes up to 30 percent of the costs of installing these systems. You should claim the tax credit when you file your returns with the IRS. However, you need to know if you qualify by understanding how these credits usually work. Solar Power Systems Eligible for Tax Credits The tax credits apply to a variety of renewable-energy devices, including solar systems. However, if you have those that are mounted in your backyard, you need to meet certain requirements. First, you should demonstrate that you have adhered to the fire and safety code. You should also supply electricity to a personal residence that is registered under your name. After that, the officials will want to know if you have been placed in service from 2006-2021. What the Tax Credits Cover Typically, the amount of your credit is calculated based on various aspects of your expenditure. You will start by looking at the costs...

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The Wonderful Invention of Solar Panels

December 19, 2018

Residents in the greater Seguin, TX area are getting excited about solar panels! The wonderful invention of solar panels is changing the way people in Texas power their homes and businesses, and GVEC Home Solar Service is here to help. Solar panel installation can significantly decrease homeowners’ utility costs and in some cases even help them to sell surplus power to their local electric company. Isn’t it time that you learned more about how this wonderful invention can help change your life for the better? How Do Solar Panels Work? Solar panels are an amazing invention that captures the energy from the sun and transforms it into energy for your home. Photons knock loose the electrons and generate an energy flow. There are simple and complex systems available, and you may have noticed a solar panel “farm” as you are driving down the highway. These panels work by converting photovoltaic cells into units of electricity that can be used to power roadside signage, homes and businesses, and even satellites orbiting the Earth. This invention is changing the way that we think about energy and alternatives to relying on outdated power grids. Power outages can be decreased, and gas-powered generators may...

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Why Go Solar?

December 13, 2018

Going solar at first may seem like a huge investment, but there are many benefits. Reduce or Eliminate Electric Bills Electricity can take up a good portion of a monthly budget. Even if you don’t get enough to cover your electric bills from your solar panels, your bill will be greatly reduced. Good Return on Investment Many people like to look at solar panels as a way to invest since there are great returns with electricity savings. Many homeowners that switch to solar will pay off the system in seven or eight years and can see an ROI of 20%. Prepare for Rising Energy Costs In recent years, electricity prices have gone up and there is no telling how much more you can expect them to increase. If you invest in solar now, you can protect against the increased costs. If you have a fluctuating cash flow, solar panels can help you better manage your expenses. Increase the Property Value Studies have shown that homes with solar panels have higher property values and sell faster. As homebuyers are becoming more educated about solar panels, the demand is increasing and appraisers are taking solar panels into consideration when they value homes....

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