Let The IRS Pay For Your New Roof
A 2,000 to 3,000 square foot home – depending on exactly how much material and how much work will be needed to to the job properly will run around $10k , so let me show you how to get the IRS to pay that for you!
You probably know that when you go solar and file Residential Energy Credits Form 5695 you get a 30% tax credit from the IRS for going solar.
The amount of electricity your home needs and the quality of the solar system will determine the overall amount needed to go solar; but on average, for a 2,000 or 3,000 square foot home – let’s say $30k will be the amount to go solar; by the way nearly all solar loans these days are $0 down, some you don’t even pay anything on for almost an entire year – all said and done your monthly solar payment, if you’re interested in saving money monthly will be less than what you’re already paying Edison and it never goes up.
So if it costs $30k to go solar and you get 30% from the IRS, that’s $9,000 that you get back – and you may already know this.
But what you may not know is…
When you get a new roof along with your solar system, you can collect a 30% tax credit for the ENTIRE amount of your project.
For example, let’s say you are getting a $30,000 solar system and a new roof for $10,000 – that’s a $40,000 project that you can collect 30% on when you file taxes.
So instead of getting a 30% tax credit on just your solar project ($30k , %30 tax credit = $9,000) you get a 30% tax credit on $40k which is $12,000!
With your $12,000 tax credit, the irs just paid for your new $10,000 roof and you have $2,000 to do whatever you want with.
If you have been thinking about getting a new roof, going solar or both, the time is now while the 30% tax credit is still available.