Solar Electric Company Discusses the Federal Solar Tex Credit & Other Financial Benefits of Going S

ESCANABA, Mich. - April 29, 2019 - PRLog -- Solar panels aren't just good for the environment; they are good for people who own them as well. They even offer financial benefits and the area experts in solar electricity, Strawbale Farms would like to provide more information about it.

For one, they want to ensure homeowners are aware of the Federal Solar Tax Credit. Officially called the "solar investment tax credit" or ITC, it's a reduction in the federal tax bill of a homeowner or business owner who pays for a solar electricity installation. The ITC is offered by the U.S. federal government for homeowners and commercial solar businesses to help make solar more affordable. So, when a homeowner who buys a solar electric system, they will be entitled to a tax credit of up to 30% of the total cost of that system. In fact, this credit can wipe out an entire tax bill if the credit is high enough.

But it is important to note that solar installations completed after December 31st, 2019, won't be eligible for the 30% tax credit. For 2020, the tax credit steps down to 26%. And, by 2022 it will be down to 10%. So, they encourage area residents to start planning their solar electricity installation today in order to ensure they can claim the 2019 30% tax credit.

Even if the owner of the solar electricity system doesn't have enough tax liability to claim the entire credit in one year, they can roll over the remaining credits into future years for as long as the tax credit is in effect.

And, solar panels also have a high ROI. Thanks to substantial electricity bill savings, the average homeowner can pay off their solar electric system in 2 to 8 years and sees a return on investment when it's time to sell their home. In fact, solar electricity can add to property values and help sell homes more quickly than those without.

Whether someone is a homeowner or business owner; electricity costs can make up a large portion of the monthly expenses; but with a solar electric system, they'll be able to generate free power over the system's entire lifetime.

And, these are just some of the great reasons to choose solar electricity. Discover true energy independence with their supply of Next Energy Solution solar energy.

Established in 2002, Strawbale Farms strives to help people achieve energy independence. The company partners with Next Energy Solution to provide solar electric systems for residential, commercial and agricultural customers. They offer both grid-tied and off-grid systems. To learn more about solar electricity for Michigan, Minnesota and Wisconsin, visit https://www.strawbalefarms.com/ (https://www.strawbalefarms.com/the-federal-solar-tax-cred...).