Solar PV panels can expect to have a working lifespan of 40 to 50 years. Solar panel degradation does occur and is 0.5% yearly on average for newer technology panels. This means that after 25 years, the solar PV panels will be producing 87.5% as much electricity as they did when they were first installed. [...]
Each property has different energy needs and solar optimization. Geoscape Solar will provide a customized analysis of your property that will include costs, benefits, and ROI.
Our specialty is finding the best financing package for your property's energy needs in the market, as well as an honest assessment of how financing can impact your return on investment.
Currently there is a 26% Federal Investment Tax Credit (ITC) and each state offers different incentives such as net metering or Renewable Energy Credits . In addition there may be sales tax waivers or property tax credits that equal the value of your system. Your Geoscape Solar Advisor will help you capitalize on all of [...]
After consulting with a licensed tax professional to verify you are eligible for the ITC, you or your tax advisor will need to complete and attach the appropriate IRS Form to your federal tax return.
The Federal Investment Tax Credit (ITC) is considered a ‘nonrefundable credit,’ so you will not get a refund for the balance. However, you can carry over the balance of any unused amount of the tax credit into the following tax year until it is exhausted.
How Does ITC Work If I Lease A PV System Or Purhase Electricity Through A Power Purchase Agreement (PPA)?
If the system is leased or financed with a PPA, then the leasing company or PPA Provider claims the ITC, and the customer benefits by receiving a discounted cost of electricity.