Daily News | 4 incentives you can get for having solar panels in Philadelphia
Installing solar panels can help you reduce your taxes and increase your refund. It might seem like an expensive investment —with the average cost of a solar system in Philadelphia still above $16,000— but there are federal, state, and local incentives, including a tax refund and energy credits that can help you offset the cost.
Under this Act, anyone installing a solar panel system until 2032 will be able to get the 30% tax credit. But come 2033, the credit will drop to 26%and 22% in 2034— a strategy previously seen when the credit was originally created.The house needs to be located in the U.S.The system is new or recently installed. People must use the credit on the same tax year they installed the panels.It depends.
If your panels produce less than 200 ampere , one bi-directional meter will get the job done. But, if more is generated, you will need to install a Dual Metering system, which involves adding a second meter and another electrical panel to host it. The process can cost between $526 up to $2,000, according to HomeAdvisor. To help with the cost, PECO offers an “OUT-meter” Credit. If approved, it gives you up to $400 to help pay for the second panel.
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