We poured our passion and knowledge into the solar business and will always believe in the benefits of cheaper, clearer electricity, however, from a promotions perspective, it is time to move on towards our wider vision.
During the coming months we will be providing information about real estate and business taxes. These will be informational articles, (i.e. topics to research) as nothing in taxes is simple enough for a blog post to replace tax advice. This information is will be provided independently from and not representative of any employer of anybody on the Abu Build team.
We are also working to gain the experience needed to provide high value in maintenance and real estate development.
Of course continue to reach out to us, with your questions about solar; we will forward your information onto our trusted partner for your area and review the proposal they provide you, in order to ensure that you are getting the best information and benefits.
Almost everybody acknowledges that solar is the near future, or as any economist would call it, right now, because to get the most benefit for you and your family, being ahead of the curve is vital.
We are at the point where even without tax incentives solar is more cost effective for homeowners and utility companies than continuing 100% grid supply. Yet federal and state tax credits, along with New York City’s property tax abatement, are still in place to cover up to 75% of solar expenditures. The balance can be paid on a monthly schedule, instead of giving the money to Con Edison, until you own your power source outright.
Basically the solar tax credits won’t last much longer because they are no longer needed to make solar affordable and the government has other priorities. Once those credits are gone 100% of the cost of solar for new customers will have to be paid by the homeowner.
In closing, If you could go back to 2004, you wouldn’t say, “I’ll wait until the guy from The Apprentice becomes president to buy Google stock.”
If two manufactures get their way, solar will become more expensive soon. Last week Suniva and SolarWorld convinced the U.S. International Trade Commission that imported solar panels hurt their business, asking for a tariff and price minimum. The commission will have to met again before November to consider options before President Trump makes a decision.
Right now, due to technology advancements and heavy incentives, going solar in New York City or New Jersey so much cheaper than remaining 100% grid supplied; I do not foresee the proposed tariff making solar unaffordable in these areas. President Trump won election by promising to protect manufacturing jobs and overall has been critical of solar, so homeowners and businesses should get solar now, while prices are low.
A tax on solar imports would be bad for America’s workers and the environment. Installing solar panels involves much more labor (two workers, one full day per house), than manufacturing. Some people are willing to pay more money for American made solar panels, however, most want the cheapest reliable option so a price increase will hurt demand.
Getting solar panels sends a clear message in the neighborhood and towards Washington as all nations and peoples must work together to create a cleaner environment.
The world is not going to react in this time the same way it did the last time a U.S. President backed out of an international climate agreement. The economics of renewable energy were not favorable in 2001 when the Kyoto Protocol began to unravel, however, they are today. The cost of solar panel systems is now cheaper than the continued use traditional electricity sources, with or without tax incentives.
Rooftop solar in particular is affordable because power is generated at the place it is used, instead of having to travel through an aging and expensive grid. In rural developing countries, it is a much more practical solution than installing hundreds of miles of wires. Meanwhile fossil fuels have become much harder to harvest as the easy to access reservoirs have been depleted.
Renewable energy options for New York homeowners are as robust as ever and most require zero out of pocket while still providing savings anywhere between 25-75%. Cumulatively this is enough to fund a college education. As the cost of living continues to increase it is important to remain fiscally competitive and to remember that the rest of the world will be using renewable energy to their advantage.
Contact us to have a representative explain how renewable energy can help your family!
“I have to fix my roof first!” a man yelled at me and closed the door; he will spend twice as much to get the necessary work completed than he would if he had taken a few minutes to listen to the right consultant. While he procrastinates, he will be paying unnecessarily high Con Edison bills and inflated property taxes; if he waits too long he will miss the solar incentives that chop about 70% off the cost of panels. The panels his neighbors are getting do more than just generate electricity, they also provide protection from winds much stronger than those of Superstorm Sandy.
(Note: This post is for informational purposes only and incentive details must be reviewed during consultation before signing).
30% for your roof from Uncle Sam: The Residential Renewable Energy Tax Credit reduces tax obligations by 30% of the necessary cost of going solar. For example if a new roof plus solar array cost $40,000 your tax bill will be reduced by $12,000. If you have $1,000 a month withheld from your paycheck and otherwise would neither owe nor get a refund at the end of the year, you would get a $12,000 refund check.
20% for your roof from Big Apple City: The NYC Solar Panel Tax Abatement reduces property taxes. Using the same example where the roof plus solar array cost $40,000 your property tax bill will be reduced by $2,000 a year for four years. $8,000 total.
The New York State tax credit is capped at $5,000 so for most homes it will reduce the cost of panels but not roof repairs.
A solar consultant will speak with you and then prepare zero down loan documents and you will own your energy production and a solid roof.