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In 2008, by a vote of 263 to 171, the U.S. House of Representatives passed historic legislation that extended the 30-percent federal investment tax credit for both residential and commercial solar installations for 8 years, until 2016.

What does this mean for the Solar Industry?

This bill ensures that America has a long-term goal of achieving energy independence including solar is going to be a big contributor. With this comes the creation of hundreds of thousands of jobs that will provide families and businesses with clean, affordable energy. CNC Solar is excited to be on the leading edge of the industry allowing for families and business to utilize this credit.

What does a Tax Credit mean?

A Tax Credit is an amount that can be deducted from the total amount of federal taxes that you owe.  This is different than a tax write off, because a tax write off only reduces your taxable income.

  • For Solar (PV), you can receive a Federal Tax Credit for 30% of the total project cost with no limit.
  • If you cannot use the whole Tax Credit in that year, you can roll it forward for 20 years.
  • Projects put in service before December 31st, 2016 are eligible for this incentive.
  • Existing homes & new construction qualify. Both principal residences and second homes qualify.

How is a 30% Tax Credit is actually worth more than the credit amount?

The Following example is based on a $100,000 project with a 30% Tax Credit of $30,000. It demonstrates how a $30,000 tax credit is equivalent to earning $40,000 more in Gross Income.

 

  With Tax Credit No Tax Credit
Adjusted Gross Income $120,000 $160,000
Taxes (25%) $30,000 $40,000
Tax Credit -$30,000 N/A
Net Income After Tax $120,000 $120,000

NoMoneyDownFinancing

CNC Offers Solar for NO Money Down

CNC Solar now offers 100% financing on solar arrays.  Now you can avoid the large up-front cost while realizing income and savings from solar.

Look Before You Lease

Financing solar provides a substantially better return on investment than leasing, with better monthly payments.  Plus, you avoids some of the pitfalls of leases.  To see more information on financing, click here.  To get started right away with a free roof analysis, click here.

 

ChamberChat 

CNC on TV

CNC Solar was recently featured on Chamber Chat on PAC14. To view the video on YouTube, click here

EV + PV

EV plus PV

Interested in an electric vehicle but worried about charging it?  Our solar experts not only know about making electricity from the sun, but they also know electric vehicles.  Talk to us today about installing solar and your own personal charging station.