On Your Side: Solar credit ends soon

SPRINGFIELD, Mo. (KY3) — If you’ve been considering going solar, now may be the perfect time to do so. You only have a few months left to take advantage of a tax credit.

A solar system is a hefty investment. The average cost is about $30,000. The tax credit usually lowers that to close to $20,000. If you have the money and want the credit, get to it.

“You can save thousands of dollars with the solar tax credit, which applies to things like solar panels for producing electricity or solar heating,” said Paul Hope with Consumer Reports. “The trick is you must buy it and install the system before the end of the year. And you can’t lease any of the components.”

You heard right. No leasing, you must buy, and the job must be done by December 31 for you to get the credit.

How do you find a good solar installer?

• Get at least three bids. Start by looking at companies recommended by your neighbors and make sure they have good online reviews.
• Go local. Find established companies with expertise about the permitting process.
• Avoid door-to-door sales. All too often, they’re not a local company with a brick-and-mortar location. If a salesperson ever approaches you, ask plenty of questions to ensure they’re with a reputable business.
• Check with your city and HOA to see if they have any specific requirements. Make sure the mounting system is compatible with your roof.

Like the solar tax credit, the Energy Efficient Home Improvement Credit also expires on December 31. So if you were thinking about installing Energy Star-certified exterior windows and doors, plus upgrading your circuit panels and heat pumps, you’d better get to it.

You might be able to recoup up to 30 percent of the cost. Your eco-friendly home upgrades must all be done by the end of the year.

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