As the cost of fossil fuels continues to rise, the federal government has increased the tax credits available to homeowners who have recently invested in solar energy. Baker Electric Home Energy has updated its Solar Savings Calculator and tax credit information to help homeowners make informed decisions about the financial impact of investing in a new solar setup.
More information about Baker Electric Home Energy, tax credits for new investments in solar energy, and the Solar Savings Calculator can be found at https://www.bakerhomeenergy.com/residential/benefits-solar-energy-your-home
Using the recently expanded Solar Savings Calculator, which is available at no cost to all residents of Southern California, homeowners can receive quick and accurate estimates for how many solar panels would be required to power their home, and how much investment it would require. The calculator can also help to determine how an investment in solar panels can reduce monthly energy costs, and estimate the total savings over time.
While there are many solar calculators available online, most of these tools use generic figures for their estimates. The updated Solar Savings Calculator from Baker Home Electric Energy uses the exact figures for solar panels the company provides, and the installation rates they charge. This allows homeowners to get a more precise estimate from local experts, and avoid unexpected expenses.
The company also reminds homeowners across Southern California about the approved increase in the federal solar tax credit, which was included in the 2022 Inflation Reduction Act. Originally, the program provided a 26% tax credit, but that amount has now been lifted to 30%.
Though a 4% increase may not sound like a significant change, Baker Electric Home Energy technicians estimate that homeowners can receive tax rebates averaging approximately $1,500 for a new, standard solar installation. This credit works as a dollar-for-dollar reduction to the amount owed in income tax at the end of the year, or as an increase to their tax refund.
Baker Electric Home Energy has more than 84 years of experience in the energy industry and has completed over 20,000 solar installations. They serve residents throughout Southern California with new solar installations, backup generators, and battery storage solutions.
More information about changes to federal solar tax credits, new solar installations, and Baker Electric Home Energy’s Solar Savings Calculator tool can be found at https://www.bakerhomeenergy.com/residential/benefits-solar-energy-your-home
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