2 Day Cash Rebate
Solar Ray takes pride in serving our customers and we are there to help, therefore we offer a 2 day cash rebate that will be delivered to you after your installation.
Just in the week of 8/23/2020 – 8/29/2020, Solar Ray has paid $7,400 in cash rebate checks!
Residential financial incentives
Residential Solar Tax Credit for Federal Income Tax
A 30% tax credit is allowed for a residential PV system placed in service after January 1st, 2006, and before December 31st, 2021. Excess credit may be carried forward to succeeding tax years.
- 30% for systems placed in service by 12/31/2019
- 26% for systems placed in service after 12/31/2019 and before 01/01/2021
- 22% for systems placed in service after 12/31/2020 and before 01/01/2022
- There is no maximum credit for systems placed in service after 2008.
Commercial financial incentives
Business Energy Tax Credit for Federal Income Tax
A 30% tax credit is allowed for a PV system purchase and installation for a place of business that is put in service after January 1st, 2006 and before December 31st, 2021. There is no maximum limit to the deductible amount. Excess credit may be carried forward up to 20 succeeding tax years.
Modified Accelerated Cost-Recovery System (MACRS)
This is an accelerated depreciation method in which the IRS allows businesses to depreciate the actual cost of a PV system (after all other financial incentives have been deducted) over a 5-year period.
Loans and Mortgages
The best time to purchase a PV system is when the building or home is first being built or purchased or when an existing mortgage is being refinanced. This allows the owner to amortize the cost of the PV system (after all incentives have been realized) over the term of the mortgage. The long-term amortization of up to 20 or 30 years spreads out the cost over time where it is offset by the savings from the system’s electricity production. Home equity loans and second mortgages are additional options. Energy Efficient Mortgages, or EEMs, can also provide important features to assist you in developing the right financial plan.
3 Easy steps to solar. A simple guide to making a smart decision.
STEP 1 Have your home or business evaluated for its solar energy potential and a system designed to best meet your needs.
There are several factors that are specific to your installation site that will determine the amount of energy you can produce. The most important factors are your roof size and its orientation along with any buildings, trees or other objects that may block the sun’s rays at different times of the year. Solar-Ray, Inc. provides a thorough evaluation of your home or business and will consult with you to design the system that will achieve the highest possible energy production in line with your budget and aesthetic standards.
STEP 2 Create a financial plan based on your production potential with incentives from state and federal agencies and your local utility.
Electricity from a photovoltaic (PV) system today costs considerably more than what we currently pay for it from the local electric company. But fortunately, there are several federal, state and local incentives that combine to make solar power a preferred alternative. To better understand some of these incentives, it helps to know how PV is generally discussed in terms of price.
STEP 3 Choose a qualified, licensed contractor and schedule your installation.
Once you have a good, professional design and a practical financial plan, the final step is to find an experienced, licensed contractor to install your system. It is also important to know that Florida state law requires that anyone contracting to install a photovoltaic system must possess an electrical contractor’s license, a master electrician’s license, or a solar contractor’s license. (The solar contractor’s license must include a PV certification). This same requirement must be met in order to receive the solar rebate from the Florida Solar Incentive Program.