The largest federal tax credit is expiring and as David Gorman, president of RevoluSun, explains it’s not too late.
“The largest federal tax credit for residential solar projects expires at the end of this year. The federal tax credit currently lowers the cost of your system by 30 percent! Combined with the state tax credit, that’s up to 65 percent of your system cost. It applies to solar hot water heating systems , solar-powered smart home products such as solar-powered skylights and solar attic fans, as well as PV systems, PV + battery systems, . If you installed solar hot water in the 80s, you really should consider replacing it now while you can get the tax credit and before it fails.”
We also asked if projects need to be started by December 31st.
“Systems must be built and placed into service by 12/31/19 to receive the full federal tax credit. It might sound like a lot of time, but it’s really not because construction is complicated and there are many parts of the process outside our control. Things like HECO approval, City & County Permitting and Inspections, and Homeowners Association approvals can add months to a project timeline, so I strongly encourage homeowners to call us now so we can start the process! For PV, set an appointment with a project developer to design a PV system that will produce enough electricity for your household. Next, we help customers choose and apply to a HECO program. After we receive HECO approval, we’ll send someone out to inspect the home and make sure the system can be built as it was designed. Then we draw up construction plans and submit them to the department of permitting and planning. After we receive a building permit, we can start building. When we’re finished, we test it to make sure it works, wait for a building inspection then wait for HECO to turn the system on.”
To learn more, visit the innovation center at Salt at our Kakaako or online at revolusun.com