Offsetting solar panel costs

Offsetting solar panel costs
Group Solar USA told Eugenio Bedoya how tax incentives could offset the nearly $40,000 cost of solar panel installation.

NEW YORK, NY (WNBC) - Installing a solar power system for your home can be expensive but there are plenty of ways to help offset the price.

It may take quite a bit of legwork, however. Eugenio Bedoya recently decided to cut his energy bills and switch to solar.

Group Solar USA told him how tax incentives could offset the nearly $40,000 cost of solar panel installation.

It was a total package of more than $29,000 in potential savings.

Bedoya signed the contract to install the panels in May 2017 and then got an $1,800 NYSERDA credit.

He was told that his accountant should be able to figure out the rest.

“I’m not asking for solar panels the filled out the forms for me. I just want to know what to do, how to do it, claim what it was offered to me.”

In a response, Group Solar explained their welcome check, and a grant from NYSERDA.

He or his accountant needs to include proof of purchase on his tax returns to receive the appropriate credit.

As for a property tax credit, the engineer on the project files the appropriate paperwork once the sign-off is obtained.

Click here for more information on solar panel installation.

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