Solar Panel Credit Arkansas

The solar investment tax credit is a generous 26 tax credit available to homeowners and business owners who install environmentally friendly solar panels.

Solar panel credit arkansas.

Arkansas has no state level incentives tax breaks and rebates for solar power but you have access to the 30 federal tax credit which can greatly reduce your initial investment when you install a pv array. Homeowners solar companies and industry advocates alike were given a big christmas gift in 2015 when congress approved the 2016 federal spending bill and extended the solar panel tax credit. You calculate the credit on the form and then enter the result on your 1040. The december 18 bill contained a 5 year solar tax credit extension which makes solar energy more affordable for all americans.

Solar leasing is now available in arkansas opening up more options for you to go solar. This is 2 63 per watt. Simply sign up for personalized assistance on our special solar deals page. To claim the credit you must file irs form 5695 as part of your tax return.

Solar panel cost in arkansas. You also have access to an excellent net metering policy which maximizes savings obtained per kwh produced by your pv system. Our network of solar experts are on call to assist you. Take advantage of this credit before it s gone by contacting sunpro solar for more information and to schedule a free appointment.

Arkansas has lots of sunshine and some laws that are favorable for solar power and renewable energy. Arkansas tax credits for solar panel systems. The average cost for an installed residential solar system in arkansas is currently 11 677 after claiming the 26 federal solar tax credit. This is higher than the average price of residential solar power systems across the united states which is currently 2 60 per watt.

Filing requirements for solar credits. Also keep in mind that the federal government offers a 30 tax credit for the whole installed cost of your system that s a huge benefit available to you no matter where you live in the us. If you install solar panels before the end of 2020 you will receive a tax credit that is equal to 26 percent of the cost of your solar installation. As of sep 2020 the average cost of solar panels in arkansas is 2 63 per watt making a typical 6000 watt 6 kw solar system 11 677 after claiming the 26 federal solar tax credit now available.

Arkansas solar power incentives tax breaks and rebates. Solar panel cost data arkansas 2020 updated. If you end up with a bigger credit than you have income tax due a 3 000 credit on a 2 500 tax bill for instance you can t use the credit to get money back from the irs.