San Diego, CA -- (SBWIRE) -- 06/07/2013 -- For many years, installing solar power in San Diego homes was equated with wealth. While it is true that almost any solar company in San Diego charged a great deal to install solar panels, environmentalists argued that the cost was effectively erased by the savings in electricity over the life of the panels. Now, the federal government has begun to give incentives to homeowners to make their homes “greener,” including a substantial tax credit for installing solar electric panels.

Milholland Electric, one of the top San Diego solar power companies , can install solar panels that will qualify homeowners for this tremendous tax break. According to the IRS, homeowners can receive a 30 percent tax credit toward the cost of installation of San Diego solar power with no upper limit in price. However, solar installation in San Diego does have to meet certain criteria in order to qualify for the credit.

First, the installation must be completed by December 31 of 2016. Next, the home must be a principal residence or second home but not a rental unit. Both existing homes and new construction qualify for the tax credit.

A good rule of thumb used by solar power companies in San Diego is that a homeowner must have a solar electric system in place for ten years in order for the cost savings to equate to the initial investment. Now, with the generous federal tax credit of 30 percent, homeowners can cut that time period down to seven years. This means that a homeowner who installs solar power in San Diego will recoup all costs within seven years through energy savings and will reap the benefits of solar power for the lifetime of the unit. As most units are rated for a minimum of 25 years of service and often last as much as 40 years, it is clear that installing solar panels can be a smart investment for a homeowner.

In order to take advantage of the tax credit, homeowners must act quickly. Milholland Electric can answer all questions about the tax credit for solar installation and provide homeowners with professional, quality work that will last for years to come.

About Milholland Electric
For more than 23 years, Milholland Electric has been serving the needs of solar panel installation in San Diego and Arizona. With the help of Milholland Electric’s fast, professional service, homeowners have converted to solar power in Southern California and saved thousands on home heating and cooling costs. Milholland Electric provides San Diego solar installation and maintenance as well as Electrical service and installation.

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