All You Need to Know about Safe Harbor
If you’ve been researching solar energy, you’ve might have heard the term "Safe Harbor". If not, it’s worth getting to know what it means. That’s because establishing Safe Harbor on your solar energy system installation as soon as possible is key to getting you the most financial benefits. If you’ve been having any doubts about what Safe Harbor is, what the benefits are, or how to establish it, you have come to the right place.
To understand the importance of Safe Harbor, you should first know what the benefits to you are. Being able to establish Safe Harbor on your solar installation means that you can gain access to the solar federal tax credit 2020. This tax credit is meant to make solar energy as financially accessible as possible and can really make a difference in the affordability of your solar energy installation overall. The general premise is that you will be able to deduct part of the cost of installing your solar energy system from your federal taxes. The catch? That in order to get the most benefits from this tax credit, you need to act fast. As it stands now, the investment tax credit for solar power is at 26%, meaning that you will be able to deduct 26% of your solar energy installation cost from your taxes. This tax credit will lower to only 22% in 2021, and will, unfortunately, fall even lower to only 10% in 2022 and will no longer apply to those looking to get reimbursed for the cost of residential solar systems.
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222 S. Main St., 5th Floor, Salt Lake City, Utah 84101 USA
Business Email: support@isolarbrokers.com
Business Phone Number: 800-803-0869
