Why is there a 30% income tax credit offered for the purchase of my unit?

Why is there a 30% income tax credit offered for the purchase of my unit?

The Solahart system is especially approved under the recently enacted energy law that President Bush signed into law in the summer of 2005. The United States federal government will offer a 30% tax credit on the cost of any system that is installed between January 1, 2006 and December 31, 2008.

What types of systems are involved with the tax credit?

The tax credit only applies to systems that are pre-approved. The system that our company offers is the Solahart industry 302J which was approved and is on the current list of the solar rating and certification corporation’s approved list. Any purchaser of our product will receive a certificate that will entitle them to take a 30% tax credit on the cost of the installed system.

Does the credit apply to pool heating systems?

No. The credit only applies to domestic hot water systems that provide hot water for use within a home.

How much does the system cost?

The typical system costs between $5,000.00 and $7,000.00 installed depending on your roof configuration and other factors.

What percentage of the time is the hot water provided by the sun in Florida?

Florida residents are very lucky in that Florida has sunshine over 300 days a year. On the few days when Florida does not have sunshine, 302J has an electric backup system that works automatically so that the homeowner will never be without hot water.

What’s the next step?

Call us for an appointment to come visit with you and explain the system in detail and enter into an agreement to install your system. You will be proud of your system because you will be helping your family with almost limitless supply of hot water and at the same time, doing your part to stop global warming and help the environment.

How much environmental help is given by the installation of the system?

It is estimated that between three and five tons of hydrocarbons per year are burned in order to create hot water for the typical family. You will be saving the environment when you purchase one of our systems because there will no longer be a requirement for you to burn coal to make electricity to send over wires to create hot water for your family to use. Instead, the power of the sun will be furnished by you to use in your home. The generation system is right on your roof and will provide your family with hot water for years and years to come.

How long does it take?

The typical system can be installed in a few days. The credit only applies for systems for which the installation is completed between January 1, 2006 and December 31, 2008.

Do homeowners associations have the power to restrict solar panels?

Answer: No. Florida statute, section 163.04 (view statute) states that no deed restrictions, covenants shall prohibit solar collectors. The statute also says a property owner may not be denied permission to install solar collectors or other energy devices based on renewable resources by any homeowner's association. You can install our system, regardless of what the homeowner's association rules say.

How does the credit work?

Once you pay for and have your Solahart hot water system installed by us, we will give you a certificate that will allow you to take your U.S. federal income tax credit. The certificate is evidence of your entitlement to the credit up to $2,000.00 on your 2006 - 2008 U.S. federal income tax return depending on when you have your unit installed. Please be advised that this credit is subject to U.S. federal income tax law and that the law may alter the amount of the credit you are entitled to depending on your situation. Click below for the full text of the portion of the Energy Policy Act of 2005 dealing with this credit. (view the new law)

How does your solar system pay for itself?

Your family’s investment in our solar hot water system could yield you a “return” of up to 12% or more.

For example, if your new hot water system saves you $1,200.00 a year on your electric bill and the investment is $6,667.00, your annual return on your investment is 20% per year!

And with the new federal income tax credit of 30% of the installed cost of the system, you will save even more! Below is a chart showing the theoretical savings when installing a Solahart 302J solar hot water system for your family:

Saving @ $100.00 a month x 12 months is $1,200.00 = a return of 25.7%!

Note: Lesser savings on your electric bill will result in a lower “return”. For example, a savings of $50.00 a month on your electric bill would reduce the return in the chart above to 12.8% annual return on your investment in your solar hot water system.