The IRS will help pay for your new roof
We install Solar Panel Systems for Church’s nationwide:
- Receive a 30% of the purchase price in the form of a IRS Tax Credit even if you do not have any tax liability, you will still receive the 30% rebate!
- Receive a No out of pocket Roof*
- Receive additional Bonus Credits
- Reduce Electric bills up to 95%
After we examine your current electric bills , we will prepare a solar estimate that will outline all the benefits and savings.
The Inflation Reduction Act of 2022 (IRA) updated and expanded the Investment Tax Credit (ITC) for solar and battery storage resilient power projects. The ITC, which was previously set at a 26% credit for 2023 and a 10% credit for every year after that, was updated and raised to cover 30% of the eligible project installation costs through 2032. This change significantly increases the anticipated savings for solar projects and will help create stability in the market over the next decade.
Congress also expanded the ITC in three crucial ways: 1) Nonprofits with no tax liability can now apply for direct pay reimbursement equal to the value of the tax credit 2) Storage-only projects are now eligible for the ITC. 3) The ITC now includes several ‘bonus credits’, which can significantly increase savings for projects serving low-income and underserved communities.
Direct Payment: A Big Deal for Nonprofits
The Direct Payment option from the IRS is a big change that turns the ITC into actual money for nonprofit groups. This means nonprofits can get the credit amount as a direct payment, which gives them more money to work with and makes their financial situation better. Think about it: lower energy costs plus extra money that can be used for important goals like community projects and the things nonprofits are working toward. This is a unique chance for these groups to not only reduce their environmental impact and create positive change, but also to get more financial benefits.
Extra Credits Bring More Savings
What’s even better is that the benefits of going solar don’t stop there. Projects can get up to six extra credits, which could mean nonprofits get back 70% of the cost of their project.
Four of these extra credits are part of the Low-Income Communities Bonus Credit Program, which the IRS talked about on February 13, 2023 (you can read more about it here). Right now, projects can only apply for one of these four bonus credits. So, a project could either get a 10% or 20% bonus credit, depending on if they qualify.
The four bonus credits in the Low-Income Communities Bonus Credit Program are:
- 10% bonus for projects in low-income areas
- 10% bonus for projects on Tribal Land
- 20% bonus for projects as part of a qualified low-income residential project
- 20% bonus for projects as part of a qualified low-income economic benefit project
There are also two extra 10% credits that can be added together. Projects that qualify can apply for both these bonus credits, along with the 30% main credit and one of the bonus credits from the Low-Income Communities Bonus Credit Program.
The two extra stackable bonus credits are:
- 10% bonus for projects in an “energy community“
- 10% bonus for projects that meet requirements for domestic manufacturing
Good News for Churches
For churches, this solar energy revolution is really great. First, using solar power helps churches save a lot on electricity, so they have more money to use for helping the community, supporting members, and their spiritual goals. Second, the Direct Payment option makes the ITC into a financial asset that can be used for different things. This not only makes sure the church is financially stable, but it also helps them do more good things, provide help, and make lasting changes.
Bonus Credits
Fill out our form below for a Free Estimate or
Call or Text a team member of Pastor Jeff or Coach Jim
Also, We offer the following services:
- Siding and Gutters
- Outdoor Living spaces
- Patios and enclosures
- Additions and Renovations
Utilize your Flat roof or the extra space around your church
Pastor Jeff Wertz
Why did I join GenSun?
The decision to join the family at GenSun was very easy. GenSun has a long history of being honest, transparent and educational.
They believe in educating all homeowners regardless of the project they desire. Coach Jim has 100’s of education videos on every topic imaginable. It truly gives me the confidence that property owners are properly taken care of in a professional and transparent manner.
GenSun continues to promote family values and traditional old fashion values that have seen to have disappeared in todays society.
