Connecticut Incentives
123SolarPower has the largest network of solar power solutions and energy efficiency experts in North America. With hundreds of locations across the U.S. and Canada we offer access to the best renewable energy solutions for homeowners and businesses. The 123SolarPower team is dedicated to connecting you with CT solar panels sales, installations, and renewable energy evaluations. Together we save money and the environment. Residential solar installations are booming in Connecticut, visit our Connecticut blog to find out why!
Connecticut Solar Power
Connecticut ranks twelfth in the U.S. for solar power capacity per capita. This ranking places the state just outside the top ten solar energy producing states in the country. In an effort to increase the number of solar panels Connecticut, the state launched a campaign in 2012 known as Solarize Connecticut.
With $27 million in backing from utility ratepayers, the program’s primary goal is to lower the cost of residential solar installation. Thanks to the program’s initial investment, 2,160 contracts for residential solar panels CT were approved in Connecticut between the start of 2012 and end of 2013. Annual earmarks of $9 million and continued outreach ensure this number will continue to increase in 2014 and beyond.
State Tax Incentives
The state of Connecticut has two tax incentives for residents who invest in solar panels CT. The first is a sales tax incentive. This incentive fully exempts certain types of solar panel installation CT from sales and use tax. In order to receive the 100% exemption, the buyer must fill out a specific form. More specifically, if a homeowner decides to buy solar panels Connecticut, he needs to fill out the CERT-140 form at the time of purchase. Our solar installers CT will help homeowners by providing them with more information on the administrative tasks that need to be completed.
In March 2012, Connecticut’s Clean Energy Finance and Investment Authority launched a new residential investment program for solar photovoltaics. This program provides rebates for 5 and 10-kilowatt size systems.
Purchasers can receive a rebate of $2.275 per watt for up to 5 kilowatts, and then $1.075 per watt rebate for up to 10 kilowatts. While the contractor is responsible for handling the paperwork associated with this rebate, an installer that’s been approved by CEFIA must do the work. Most solar panel installer New Haven possess such a certification because we make sure to work with the best of them at 123SolarPower. Visit our friends at Dsire to learn about all 51 state level energy savings opportunities.
Federal Tax Incentives
State residents can also take receive additional tax credits for using Connecticut solar panels. The Energy Policy Act of 2005, which has significantly expanded since its introduction, offers a federal tax credit that can cover up to 30% of the costs associated with using renewable energy.
Applying for the credits provided by this act is as easy as including IRS Form 5695 when you file your tax return. The form includes all the information you need to calculate your renewable energy system’s total costs. Once you add the calculated amount of the credit to your 1040, if it happens to be larger than what you owe, the excess amount will be carried over to the next year.
Because of the state and federal tax credits that are currently available, if you want to save money and the environment, now is the perfect time to take the first step towards residential solar power. Learn about the 123SolarPower advantage Today.
Help For All Connecticut Residents
123SolarPower is your destination for solar energy solutions and solar panels for sale Connecticut. Our partners carry the most advanced equipment in the industry. Every solar panel CT that you install at your home can provide a variety of benefits. To receive a free estimate on installation costs, and learn more about the savings available to you specifically please fill out the above form for our experts. If you prefer to speak with one of our solar power experts call us at: 800-294-2397.
