Powering Your Home With Solar is Now More Affordable
With the recently passed Inflation Reduction Act (IRA), more households can lower their energy costs and help combat climate change. New incentives will be available over the next decade to help you choose cleaner and healthier electric home appliances, switch to electric vehicles, and add solar and battery storage to your home.
We will be doing a series of blog posts to share the incentives available from the IRA as they become available. To start off the series, we want to highlight the credits available for the installation of solar and battery storage on you home.
GET 30% OF THE COST OF SOLAR + BATTERY STORAGE BACK ON YOUR TAXES
You can receive a tax credit for installing solar panels and battery storage on your home. Homeowners who install solar and/or battery storage can get up to 30% of the cost back on their tax return and would enjoy perks like cheaper energy bills and becoming more resilient during power outages. If you already have solar, you can get 30% back on the cost of adding a battery starting January 1, 2023.
Solar customers can get the most of out their investment by installing battery storage. Batteries store excess solar energy produced by your panels for use later, including during outages. This allows customers to get more out of their system and pay less for energy from the grid when the sun goes down.
Rewiring American has put together a tool to find out how much money you can get from each IRA incentive. The tool can combine incentives to calculate your future savings.
In addition to making things more affordable for families, the IRA also provides tax incentives for entities like SJCE so that investing in wind, solar, and energy storage becomes even more cost-effective. As residents electrify at home and on the road and SJCE builds more renewable resources, we’ll make great strides in achieving a cleaner and healthier future together.
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