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How does Net Metering work?
Solar net metering allows you to offset your electricity bills by generating your own renewable energy. When your solar panels produce more electricity than you consume, the excess is fed back into the grid, earning you credits on your utility bill. This can lead to significant savings over time, especially during peak sunlight hours when your panels are most productive.
Solar Tax Credit Explained
The Inflation Reduction Act not only included measures to curb inflation but also bolstered the Federal Solar Tax Credit (ITC). This federal tax incentive serves as a catalyst for facilitating the accessible adoption of solar energy for both residential and commercial purposes.
Under the revised terms, homeowners investing in solar energy can benefit from the ITC, receiving a tax credit equivalent to 30% of the project cost until the year 2032. Subsequently, in 2033, this tax credit will reduce to 26% of the project cost, followed by a further decrease to 22% in 2034, ultimately expiring in 2035.
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NEW AMERICAN SOLAR
200 NE Missouri Road Suite 200 Lee's Summit, MO. 64086, United States