From state to state there are various credits that can be given for staying energy efficient, and Utah is no different. Be aware of the various advantages you can obtain from this, and how it will affect you either on a personal or business level. There may be some changes you can make in your life that will have even more advantages than you may have realized.
On a personal level there are incentives when it comes to solar power. If you have upgraded your energy to different solar options, make sure that you know what advantage can come to you from this. For residential situations, the income tax credit is 25 percent of the system installation costs. This price may reach up to two grand for every unit.
There are a few different systems that will fall under this credit, including solar electric systems, passive solar thermal systems, wind turbines, geothermal pumps, and more. When you make upgrades such as this in your home, be aware of how they can change your bills, and help to cut back on your taxes.
For solar changes on a commercial level, it is given as a refundable credit. There are a few different types of commercial systems that are eligible for tax credits, including active and passive solar thermal systems, wind turbines, geothermal heat pumps, and more. If you are working with any of these on a commercial level, look into the different options. The total amount of costs that can be used will vary in this situation, depending on if it is working on an investment tax credit or a production tax credit. Find out beforehand what you can get.
Solar power can save you more than just on your electric bills during the year. By installing the right systems, you may be able to receive more tax credits than you may have thought possible. At Arc Blue Electric, we are committed to helping our customers go green, installing solar panels whether that be through off-the-grid solar or grid-tied solar. Learn what you can do to take these steps, and get the most for your solar panels, including tax credits.