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Save $1,300+ on Solar Installations in Connecticut with New Tax Exemption Program – Meet 3 Criteria to Qualify!

Connecticut‘s New Solar Tax Exemption Program

Connecticut Residents Eligible for Solar Tax Breaks

According to The US Sun, Connecticut residents now have a chance to save money and support eco-friendly initiatives thanks to a new tax exemption program introduced by the state government. The tax exemption program offers financial rewards for those who install solar energy systems. The tax exemption program provides an exemption from sales tax for purchasing and setting up solar and geothermal energy equipment. Given Connecticut‘s sales tax rate of 6.35% this exemption can lead to substantial savings especially for larger projects. For instance installing an 8-kilowatt solar system for a home typically costing around $21,000 could save homeowners over $1,300 upfront as estimated by MarketWatch. The tax exemption program isn’t restricted to homeowners alone tenants, commercial property owners and manufacturers can also take advantage of it.

To qualify for this tax waiver three main criteria must be met:

Purchase Location: The equipment must be bought in Connecticut.
Type of Equipment: Eligible items include active or passive solar water or space heating systems, geothermal resource systems, solar electricity-generating systems and related equipment.
Documentation: Proper documentation specifically the CERT-140 certificate available on the Connecticut Department of Revenue‘s website must be presented at the time of purchase.

Americans who put up solar power systems might not have to pay as much property tax. To find out if you can get this benefit talk to your local government. More and more Americans in the US are using solar energy because the government is giving them more help and solar panels are getting cheaper. Since the cost of solar panels has decreased by half over the past ten years more Americans may now afford them. By adopting solar electricity we can reduce our reliance on fossil fuels benefiting the environment and saving money on our monthly energy bills.

READ ALSO: Pennsylvania’s Cash Bonanza: Senate Leader Proposes Direct Payments To Residents, Boosting Economy And Tax Relief

Save $1,300+ on Solar Installations in Connecticut with New Tax Exemption Program – Meet 3 Criteria to Qualify! (PHOTO: Today’s Homeowner)

Savings for Homeowners Across Connecticut, New York, and New Jersey

Furthermore, Connecticut is not alone in offering such incentives. The federal government provides a tax credit covering 30% of the cost of solar installations potentially saving homeowners thousands of dollars. Other states such as New York and New Jersey also offer sales tax exemptions for solar purchases. Overall these programs aim to make solar power more accessible and financially attractive promoting a shift towards renewable energy sources and reducing the environmental impact of energy consumption.

READ ALSO: Shortage Of Young Men In US Job Market Raises Economic Concerns: Experts Warn Of Tripled Non-Participation Rates And 2022 GDP Drop

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