Tips: Reduce your Solar Costs LEARN THE SOLAR BASICS Facts: Solar technology, cost, and size Tips: Reduce your Solar Costs Frequently Asked Questions (FAQ’s) PROCESS FOR GOING SOLAR Getting Solar Ready Ok, I’m Solar Ready Flipping the Switch Check out these ways to reduce your payback period, or the amount of time it takes to earn back your initial investment from savings in your utility bills: INSTALL YOUR SYSTEM BEFORE RETAIL RATE NET METERING PHASES OUT ON JULY 1, 2022. Net metering allows you to earn a credit on your electric bill for the excess energy your system produces. Get retail-rate credits until 2032 by installing solar before Indiana’s net metering law changes on July 1, 2022. The average installation time takes 2-4 months, so make sure to budget enough time! Learn more about net metering in Indiana from Solar United Neighbors here. JOIN A SOLAR CO-OP Join the Northern Indiana Solar and EV Charger co-op, sponsored by Solar United Neighbors and Solarize Indiana, to access competitive pricing. The co-op closes at the end of February 2022. Co-op members leverage bulk-purchasing power to get discounted pricing and a quality installation. Learn more about the co-op by watching this Indiana Solar 101 webinar. APPLY FOR EASSI If your nonprofit owns or leases its facility in South Bend, apply for the Energy Assistance and Solar Savings Initiative. Your organization will be able to access solar energy and improve your energy efficiency! EASSI provides subsidized energy assessments, grants, and low-interest loans. CLAIM YOUR 26% FEDERAL TAX CREDIT File IRS Form 5695 as part of your tax return. If you end up with a bigger credit than you have income tax due, you can carry the credit over to the following tax year. Consult a tax professional to guide you through this process. Small business can also access this tax credit! Learn more about the 26% federal tax credit on SEIA’s and Turbotax’s websites.