Latest news with #FederalInvestmentTaxCredit
Chicago Tribune
11-08-2025
- Business
- Chicago Tribune
West Aurora School District eyes tax credit for solar project
West Aurora School District 129 is looking to install more solar panels, this time at its transportation facility in North Aurora. The school board recently authorized the district's administration to execute documents and invest $250,000 as a 'downpayment' to lock-in the availability of tax credits for a proposed solar panel canopy project at the facility. The Federal Investment Tax Credit for solar projects has a 'safe harbor' provision that permits school districts to secure tax credits by showing 'continuous progress' toward the completion of a project. The proposal is to install a canopy with solar panels at the school district's transportation facility in North Aurora, officials said. 'By investing in equipment and design costs now, we demonstrate how the project is moving forward towards our final install in the summer of 2026,' West Aurora School District Associate Superintendent of Operations Angie Smith told The Beacon-News. 'The solar panels will help offset the cost of electricity needed for our EV buses. The EV buses already will save us operating costs versus gas buses. The solar panels will reduce that cost further,' Smith said. However, to lock-in the availability of tax credits for solar projects, the district is facing a 'compressed timeline' due to incentive changes associated with President Donald Trump's 'Big Beautiful Bill,' Smith said. The proposed solar canopy project would provide power to the district's EV buses. The school board last year decided to add some electric school buses to the fleet. The plan to bring in 27 electric buses to replace some older diesel models is part of the district's ongoing efforts to be environmentally conscious and reduce energy costs, district officials said. 'In order to maximize our potential credit for the solar canopy project for next summer we need to have made a significant investment by mid-August,' Smith told The Beacon-News. The tax credit is estimated to be more than $525,000, officials said. It is the district's intent to install solar panels at the transportation facility next summer. However, in order to take advantage of the safe harbor provision, the district is required to expend funds by Aug. 15, Smith said. 'I know is a very tight timeline,' she told board members. Part of the difficulty is that there are some different interpretations as to when certain things in the bill take effect. Specifically, do things take effect within a certain number of days after Trump signed the 'Big Beautiful Bill' on July 4, or later than that. In order to be 'completely conservative and protective as possible,' consultants have recommended the district have money spent by Aug. 15, Smith said. 'For this project, the tax credits are roughly $525,000. In addition, the district would be eligible for Illinois Shines solar program tax credits that will be about $35,000 a year and a ComEd inverter rebate of about $65,000 a year,' she said. Smith said when you add together all the credits, rebates and incentives, 'this roughly $1.8 million project will cost the district about $100,000 and that's before utility savings.' 'This is a project that will pay for itself, but we are not in our typical timeline,' she told the school board. 'Typically, I come to you in the fall and say here are the projects we are going to do. Then we come back to you with bids. 'For this one, if we are going to protect the tax credit, we are asking you to give me the authority to sign paperwork necessary to execute a safe harbor plan. We will then come back to you in the fall or spring and review the normal process,' Smith said 'We're basically spending on the front-end for design fees and some of the materials,' Smith said. The administration will come back to the school board to discuss labor and construction-related matters for the project, she said. 'I know it's a little bit awkward but what we are doing is protecting roughly half-of-a-million dollars,' Smith said. The school board authorized the district expend $250,000 towards the project The school board essentially is putting 'a deposit down' to secure solar power for the transportation facility, Smith said. It basically protects the possible tax credit. 'If we didn't do it, we run the risk that by the time we go to apply for a tax credit, it might be nothing,' she said. 'The district is trying to receive the most tax credit.'
Time Business News
31-07-2025
- Business
- Time Business News
Residential Solar Installation: Cost, Financing, and Value in Connecticut
Connecticut is rapidly embracing clean energy, and more homeowners than ever are seeking practical ways to lower utility bills, increase property value, and protect the environment. If you're considering a residential solar installation, understanding the full picture—costs, financing options, and long-term value—is key. Here's a comprehensive, human-first guide designed to answer all your questions, dispel myths, and help you make the smartest investment for your Connecticut home. Connecticut's high utility rates make it one of the most solar-friendly states nationwide. With generous incentives, strong solar policy, and a robust network of local installers, now is a prime moment for homeowners to turn sunshine into long-term energy savings. The biggest question on most homeowners' minds: 'How much does it cost to go solar?' While every home is unique, here's a realistic overview of solar installation cost residential in Connecticut: Average System Size: Most homes require a system of 8–12 kW to cover their needs. Gross Cost Before Incentives: $22,000 – $36,000 Final Cost After Incentives: $15,000 – $25,000 (factoring in the federal 30% tax credit and state rebates) Costs include equipment (solar panels, inverters, mounting hardware), labor, permits, and warranty. Pro Tip: A free, personalized quote from a local expert like A1 Solar Pros will provide a custom estimate based on your home's roof, energy usage, and sunlight exposure. Panels & Equipment: Higher quality and warranty typically mean higher upfront cost but greater reliability and longevity. Installation: Professional installation ensures safety, code compliance, and optimal system performance. Permitting & Inspection: Proper paperwork, town fees, and required electrical/structural signoffs are included. Monitoring & Maintenance: Most packages now include online system monitoring for quick alerts and peace of mind. Solar panels are more accessible than ever thanks to creative financing options: Cash Purchase: Maximize your long-term savings; fastest payback (often 6–8 years). $0-Down Solar Loans: Spread costs over 10–20 years with fixed monthly payments often lower than your current electric bill. Solar Leases & PPAs: No upfront cost—pay only for the power produced each month. Great for budget-focused homeowners. A1 Solar Pros helps you navigate Connecticut's top lenders, government-backed loans, and utility-sponsored programs so that going solar fits your financial comfort zone. Solar in Connecticut isn't just smart—it's heavily incentivized. Homeowners benefit from: Federal Investment Tax Credit (ITC): 30% off your total installation cost. State of Connecticut Green Bank Rebates: Additional reductions for qualifying systems. Sales & Property Tax Exemptions: Never pay additional tax on your system or its added home value. Net Metering: Earn credits for any surplus power your panels send back to the grid, further accelerating your savings. ROI: The average Connecticut solar customer pays off their system in 6–8 years and enjoys 17–20 years of free power. Over 25 years, that can mean more than $40,000 in net savings, depending on usage and utility rates. Solar isn't just about utility bills; it's an undisputed home value booster: Studies show solar-equipped homes sell faster and at a premium—boosting resale value by approximately 4–6%. Solar is increasingly a 'must-have' for buyers seeking energy efficiency and low long-term ownership costs. Environmentally, every system reduces carbon emissions by several tons each year, building a healthier Connecticut for everyone. Thinking long-term? Paired with battery storage and smart home integration, your solar investment can also help you weather power outages and grid disruptions—priceless peace of mind in unpredictable times. With deep local experience, transparent pricing, workmanship warranties, and a focus on honest education—not sales pressure—A1 Solar Pros ensures your path to solar is smooth, rewarding, and tailored just for you. Internal Links to Explore More: Dive into the full installation process and see sample systems at Residential Solar Solutions Curious about solar for your business or investment property? Visit Commercial Solar Options Q1: How long does a residential solar installation take from start to finish? About 4–10 weeks, varying with permitting, approvals, and customization. The actual install on your roof typically takes only 1–2 days. Q2: Will solar panels work on my older roof? Most roofs in good structural condition are suitable. If your roof will need replacement within ten years, consider replacing it before or during your solar installation. Q3: Do I need to worry about maintenance or repairs? Solar power systems are low-maintenance, requiring only occasional cleaning. Modern panels come with warranties of 25 years or more. A1 Solar Pros offers support and performance monitoring for all clients. Q4: What if I move or sell my home a few years after installing solar? Solar systems can raise your property value and appeal to modern buyers. If you financed the panels, most loans can transfer to the new owner or be paid off at closing. Q5: How do I get started? Book a free, personalized assessment at A1 Solar Pros to review your roof, receive a custom proposal, and see real numbers for your specific needs. Make the Switch—Your Solar Value Story Begins Today! Connecticut is leading the clean energy charge. When you invest in a residential solar installation, you're not just reducing bills—you're investing in your home, your values, and your family's future. With top-tier financing, seasoned local experts, and strong state support, there's never been a better time to go solar. Take your next step today: calculate your estimated savings, compare solutions, or talk to a specialist who listens and explains instead of just selling. Your home's energy independence, value, and sustainability are just one smart decision away. TIME BUSINESS NEWS
