When you go solar in the U.S., the federal government will give you a solar tax credit of 30% off the cost of the solar system. When you go solar with Sunrun, we file for the energy tax credit for you and immediately pass on the savings, so you don’t have to wait until tax time.
When you purchase a residential solar system, the federal government will give you a 30% tax credit, lowering the amount of taxes you owe by 30% of the cost of the solar system.
If you purchase a home solar system that costs $45,000, you will pay $45,000 upfront, and then receive a credit of $13,500 when you file you personal federal income taxes the following year. This solar incentive is different from a cash rebate, which gives you money back after filing for the rebate.
Unfortunately, most homeowners don’t owe enough in federal personal income taxes to use all of the solar tax credit. Others may not be able to afford to pay full price for the panels and wait while thousands of dollars are tied up until tax time.
With Sunrun, it’s much easier and more affordable to invest in solar power. Sunrun files for the tax credit, handles all the paperwork, and immediately pass on the savings to you in the form of a low upfront cost. This way, you don’t have to pay a lot of money upfront to go solar, nor do you have to wait a year to see the benefit of the tax credit.