Solar FAQ

Common Questions



How do the rebates and Federal tax incentives work?

For a purchased system, we handle the rebate paperwork for you. Rather than have you wait for a rebate check, we immediately factor in the savings by reducing the cost of your system accordingly. To receive your federal Residential Renewable Energy Tax Credit, simply complete IRS Form 5695, available at http://www.irs.gov/pub/irs-pdf/f5695.pdf



Am I responsible for the maintenance of the system and panels once installed?

No, a significant benefit of installing with Verengo Solar is that we provide a production guarantee for up to 25 years.



Are solar panel prices expected to go down in the next few years?

Dramatic drops over the past years have made them quite affordable. Those prices have stabilized, and while it’s conceivable that solar panel prices may eventually fall slightly over time, utility power prices now makes sense! The sooner you go solar, the more you can save.



What happens after my 25-year agreement is up?

You’ve got three options. You can purchase the system at fair market value, you can enter into a year-to-year agreement at 10% below Tier 1 pricing, or you can give us a call and we’ll immediately remove the system.



What if I move?

Your home will have a happy new owner, because the low locked-in rate easily transfers. In fact, the entire transfer process is handled with a single 1-page form!



Since solar power usually increases the resale value of my home, what will it do to my property taxes?

You’re protected by Section 73 or of the California Revenue and Taxation Code, which allows a property tax exclusion for your system. Your property taxes CANNOT be increased because of a solar installation. Which is nice, because your home’s value increases a whopping $20 for every $1 you save in annual energy costs!

Section 487 of the New York State Real Property Tax Law provides a 15-year real property tax exemption for solar energy systems constructed in New York State. As currently effective, the law is a local option exemption, meaning that local governments are permitted to decide whether or not to allow it. The exemption was mandatory prior to a 1990 reenactment in which the local option clause was added. The exemption is valid unless a government opts out of the exemption, as opposed to the more common practice of requiring governments to “opt-in” in order to offer an exemption.

In October 2008, New Jersey enacted legislation exempting renewable energy systems; such as solar PV, used to meet on-site electricity needs from local property taxes. The exemption may be claimed for all qualified systems installed on residential properties.  In order to claim the exemption, you will need to apply for a certificate from your local assessor which will reduce the assessed value of your property to what it would be without the renewable energy system. Exemptions will take effect for the year after a certification is granted.  The New Jersey Division of Taxation has developed an Application for Certification of Renewable Energy Systems. You will want to direct questions about the law to your local assessor.



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