UTAH… THIS IS THE PLACE TO GO SOLAR
Why go solar in Utah
Solar just makes sense in Utah, but you have to act quick! The quicker you switch, the more you can save with the Renewable Energy Systems Tax Credit. The credit is being reduced by $200 per year, until it completely disappears in 2024.
Solar incentives in Utah**
Utah’s Renewable Energy Systems Tax Credit is a nonrefundable tax credit of 25% of the solar system’s cost, up to a maximum of $1,200. However, this credit is being phased out, with the maximum amount of credit to be reduced by $200 a year until it is phased out entirely in 2024.
Many of Utah’s utility providers provide some form of “net metering,” which allows solar homeowners to be paid for excess energy they provide to the grid. Those net metering rates are usually less than the actual cost to produce that power, so you’ll get the most out of your system if you aim to use all of the power you generate and export nothing to the grid.
Utah homeowners are also eligible for the Solar Investment Tax Credit (ITC).**** The ITC allows you to deduct 26 percent of the cost of installing a solar energy system from your federal taxes.
Solar panels perform in all kinds of weather
Going solar is a big decision, and although there are many factors you should consider, local weather shouldn’t be a deterrent. Solar panels are designed to work in almost any type of weather… even snow and clouds!
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*Offset requires matching energy usage to the solar system’s output.
**These figures are current as of May 5, 2021 and are only approximations. We advise you to consult with the appropriate professionals (including, but not limited to, your solicitor or attorney, accountant, CPA, CGA, or any other financial or legal advisor) for the implications of any information contained in our website and in any link you access through our website.
***This information is current as of May 5, 2021 and figures are approximated. Customers are encouraged to check with their local utility providers for the most up to date and accurate information regarding solar incentives and programs available.
****You should contact a qualified tax expert and consult with them. Neither Freedom Forever’s family of independent authorized dealers nor Freedom Forever itself can give you tax advice. A qualified tax professional will understand your situation and be able to give you the most relevant advice.