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How Much Will I Save?

Now more than ever, homeowners can enjoy significant economic savings by going solar. From purchasing through ownership, Solgen connects you to as many opportunities to save as possible.

Your total savings depends on a few key variables. However, your investment in a solar system consistently promotes 2 financial outcomes…

 

  1. Reduced Spending on Electricity: By installing solar panels for your home, you give yourself the means to produce the electricity you consume and, thereby, reduce your need to purchase electricity from your local utility company.

 

  1. Added Value to Your Home: According to the U.S. Department of Energy, homes equipped with solar power systems sell for a premium of $15,000 for an average system of 5 kW. Also, homes with solar are shown to sell 20% faster than homes without solar.

 

There are 3 main areas in which you would save money by purchasing your solar system from Solgen.

  1. Federal Solar Tax Credit
  2. Solgen’s $0 Down Financing
  3. Electric Bill Savings

Federal Solar Tax Credit

In August 2022, the federal government increased the federal tax credit for solar power systems on homes and businesses to 30%. This incentive applies to solar power systems installed between 2022 and 2032.

The solar tax credit is a dollar-for-dollar credit against your tax liability that helps you recoup a portion of what you spent on your solar system. 

To calculate it…

  1. Take the total amount you spent on your customized solar power system (let’s use $40,000 as an example).   $40,000 = Total Solar Power System Cost 
  2. Multiply that amount by the tax incentive percentage (i.e., 30% or .30). $40,000 X .30 = $12,000 in Potential Tax Credit
  3. Take the amount of your potential tax credit and reconcile it with the federal tax income you had withheld throughout the year. If that amount is equal to or greater than your calculated potential tax credit, you could qualify for the full tax rebate.

 

Potential Tax Credit = $12,000

Federal Income Tax Withheld = $15,000

Qualified Tax Credit Amount  = $12,000

Customer getting photo taken with their new solar panel

Customer getting photo taken with their new solar panel

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Solgen’s $0 Down Financing

Our financing program is one of the primary ways we differentiate ourselves from other solar power providers. When we say “$0 Down Financing,” we mean $0.

 

To qualify, applicants must…

  • Have approved credit (generally 650 FICO and above)
  • Be homeowners
  • Have a qualifying debt-to-income ratio

Upon approval, we connect you to our In-Home Financing options or a 3rd party bank that provides loans specifically for solar power systems. This program takes the federal tax credit into account and creates a fixed, flat payment. You can pay off the loan at any time, and there are no prepayment penalties. 

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Solgen Power is a solar energy equipment company that sells and installs solar for homeowners. Solgen Power has been recognized by INC. 5000 as one of the fastest growing companies in the nation. Solgen Power has grown nationwide and continues to provide excellent customer service to homeowners.

Awards and Certifications

Best Company Great Value 2021 Award given too
Home Advisor Screed approved certification
award BBB solar
2020 solar reviews
stevie award for solar
NABCEP Certified
2021 top solar award
inc 5000 top solar award
Top 10 ranked award 2021 by Best Company

Headquarters Location 5715 Bedford Street Pasco, WA 99301

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