Are you wondering what kind of incentives and rebates you can get with your solar system?
Going solar is becoming more and more popular, with good reason. When you upgrade your home’s power source to solar panels, you can reduce your energy bill, reduce your dependence on the grid, boost your local economy, and help save the environment.
However, there are many more benefits of going solar you might be aware of. When you install solar panels, you can benefit from a variety of tax credits, incentives, rebates, and other money-saving opportunities.
If you are wondering what kind of incentives are available for going solar, this short and simple guide is for you.
State and Federal Tax Credits
One incentive you can get for going solar is a state and federal tax credit. The federal tax credit is a dollar-for-dollar reduction while the state credit varies. If you want to go solar but aren’t sure where to start, consider contacting this home solar company today.
State and Federal Tax Exemptions
Like state and federal tax credits, using solar energy can also result in state and federal tax exemptions. You can receive a tax exemption for your property taxes and your sales tax on the cost of the solar system.
Rebates
Certain states, utility companies, and municipalities will offer cash rebates for your solar panel system. These rebates can be up-front for immediate savings or you might have to take a few steps to receive them. The best solar company will have a list of rebates you can qualify for.
Performance-Based Incentives
One financial incentive you can take advantage of is a performance-based solar incentive. This incentive offers a credit for each kilowatt-hour your solar system produces. This is a great incentive for anyone entering the solar industry, you can earn money on the energy you produce.
Solar Energy Renewable Certificates
Another incentive for installing a solar system is an energy certificate. With this program, for every 1,000 kilowatt-hours you generate, you can earn one energy certificate to sell back to your electric company. This program is only offered in certain states and requires you to buy your solar system outright to qualify.
Net Energy Metering
One of the most widely-used incentives for going solar is net metering. With this program, you can sell your unused energy back to the grid. Net metering is a great way to save money and make money.
These Are the Incentives and Rebates You Can Get With a Solar System
There are many incentives and rebates you can qualify for when you invest in a solar system.
By going solar, you can receive state and federal tax credits and exemptions. You can also qualify for rebates, performance-based incentives, and renewable certificates. After installing your solar panels, make sure to check if you qualify for net metering.
These are the financial incentives you can take advantage of after going solar.
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