Here at CNC Solar, we like to offer the best products to our customers. With over ten years of experience, we’ve been able to narrow down which products will best suit our customer’s needs.
When CNC Solar installs a Solar Array, we prefer to use SolarEdge inverters and optimizers for a number of reasons:
Power Optimizers are attached to each individual panel on your solar array, allowing them to work independently. With traditional systems, each panel is tied into one another, making the entire system work as one. This will result in a loss of generation efficiency. Think of it as old holiday lights versus new holiday lights whereas if one light went out, then the entire string of lights will go out. Allowing each panel to work independently is beneficial for two reasons:
- Shade mitigation: If one of the panels starts to get shaded by clouds, tree or other obstruction, it will not affect the production of the rest of your system. This contributes to SolarEdge’s superior efficiency.
- Online Monitoring: Owners of SolarEdge power optimizers are able to monitor how each individual panel is working. If a problem is detected, CNC Solar will solve it.
- Power Optimizers also come with a 25-year Warranty (including 25 years of online monitoring)!
- Superior Efficiency of 98%
- Outdoor and Indoor Installation
- Internet Communications
- Ethernet or WiFi
- Cellular when necessary
- 12-25 year Extendable Warranty
- Made in U.S.A.
With so many benefits, it’s clear why CNC Solar prefers to use SolarEdge.
For more information, call our office: (302) 260-9245 or Toll Free (877)-440-9590
ITC Phase Out
One frigid November day, when I was just a teenager, my father took my older brother and I out to the beach to go surf fishing. He explained that there were some “monster blues” being pulled in down by the Indian River Inlet and he was planning on catching some. As excited as I was to catch one of these “monster blues”, I did not anticipate how much patience and frustration I was going to endure that day. We got to the beach nice and early and launched our lines into the water. The wind was howling and the surf was rough, making it next to impossible to recognize a fish tugging at our line. Hours went by without a single fish and I was shivering cold underneath my three layers of clothes.
Around 3 in the afternoon, we all decided that we’d had enough and started to pack up when one of the rods was hit hard. I was the first to the pole and pulled back as hard as my tiny teenager arms could to hook the fish. I fought for a solid fifteen minutes when suddenly I stopped receiving a fight back. As I reeled the rest of the line in, all I could think was how I lost the only fish we were going to catch that day. To my surprise, I didn’t lose the fish, well, not the whole fish anyway. At the end of the line was the head of a nice sized blue fish with the other half of its body cleanly bitten off. “Looks like someone had a visit from the tax man!” my father laughed. I was suddenly engulfed with both anger and confusion until my dad said, “ that must have been a hungry shark”. It wasn’t until several years later that I understood why a shark had that nickname.
I was brought back to that day the first time I had to do my own taxes. Anger and confusion once again engulfed me as I calculated how much of my hard earned income would be going to the government. As I got older, I learned of several strategies to prevent the taxman from taking such large bites out of my “monster blue” each year. One strategy that truly stuck out to me is the option to invest in renewable energy and take advantage of the Federal Investment Tax Credit (ITC).
For those of you who are not familiar with the ITC, the Federal government is willing to give you federal tax credits of up to 30% of the cost of the solar energy system that you purchase for either residential or commercial property. A Federal Tax Credit is a dollar for dollar against your tax liabilities. In other words, whatever you owe the federal government at the end of the year, you can use 30% of what you spent on your solar array to pay those taxes. For example: you purchase a $10,000 system and you owe $2,500 in federal taxes. You have earned $3,000 in federal tax credits by purchasing the solar array. You have several options with those tax credits:
- You can use those credits on your current tax burden ($2,500) and have $500 in tax credits left over
- You can use the tax credits on the tax burden from the year before the installation
- For example, if you purchased the solar array in 2017, you can use the tax credits on your 2016 taxes and get reimbursed what you paid the federal government
- Wait to use the tax credits for another year
- You can wait to spend the tax credits for up to 20 years after the purchase. They will expire after 20 years, but I hope you can find an opportunity to use them before that time comes.
The way I see it, you can give your hard earned money to the government and have them spend it however they will, or you can know where your money is going by reinvesting it in your own home or business. Keep in mind, however, there is a phase out for this incentive. 2019 will be the last year you can take advantage of the 30% federal tax credit, meaning that if you start construction on a solar array in 2019, you will still qualify for the 30% tax credit. The phase out will then proceed as follows:
- 2020 – 26%
- 2021 – 22%
- 2022 – 10% (Commercial) 0% (Residential)
The year 2021 will be the last year for residential customers to receive federal tax credits from purchasing solar energy. If you are even considering investing in solar, CNC Solar is more than willing to answer any questions you may have and get the process started for you. I would hate to see someone go through the same frustration as I did on that frigid November day, so please, call CNC Solar to help save you money on your taxes today!
Attached are a couple articles about the ITC phase out: