Homeowners in Sacramento, California and across Northern California have enjoyed a 26% federal solar tax credit throughout 2020, and this number is set to drop in 2021.
The Federal Solar Income Tax Credit, will decrease to only 22%, and at the time of this writing it will expire completely by 2022.
As we covered in a previous blog article, this credit allows homeowners to claim a tax credit that will help offset the cost of their home solar system significantly.
VEVO Electric customers who finance a solar system can use this tax rebate as a deferred down payment on their loan. This deferred down payment counts as a Zero interest portion of the loan!
Additionally, if you’d prefer to keep this 26%, you can take the cash and use one of our loans with interest rates as low as 0.99%.
At VEVO we will let you know if your installation can be completed by December 31 or not – but act fast! The tax credit is decreasing in a few weeks, so time is of the essence.
We at VEVO Electric are not tax advisors, and anything in this article is not Financial Advice. Consult a tax professional to confirm your potential savings.