Tax Credits for Solar Energy and Other Home Upgrade Projects

Getting money back on your taxes doesn’t have to mean owning a business and writing off a bunch of expenses. In fact, it can be as simple as changing your air filters. Bell Brothers can help guide you through projects that offer tax credits on these home upgrades.

Solar Energy Credit

In 2008, the State of California decided to give residents a great break on solar energy by helping with 30% of their solar purchases. That means if you buy $10,000 worth of solar panels, the government allows you to deduct $3,000 — or 30% —  from your taxes the next year.

These credits can also play nicely with financing and rebates, which means that you can save a lot of money when it comes to solar installation if you play your cards right. The best way to plan? Have a qualified solar installer help you with everything from the possible design opportunities to the logistics of installation.

Other Home Improvement Credits

Many home upgrade projects qualify for federal tax credits, either with a flat fee per project or via a percentage of the overall project cost. In general, these credits are not as generous as the solar tax credit in California, but they’re great to be aware of when you’re considering any home upgrade.

It’s especially important to work with a qualified contractor because not everyone will be able to collect these credits. And even fewer can help you navigate the hassle of federal tax codes, so go with your gut and have the guys you trust do your next home upgrade.

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