Solar power is the future of electricity. And the US is currently paving the way for the rest of the world to follow suit.
For the last decade, the federal and state governments have been incentivizing homeowners across the nation to install solar panels, to put less pressure on utility providers, and lower our overall CO2 emissions.
To meet this goal, some state governments are still offering solar rebates to help lower the cost for consumers. We’ve compiled some of the top solar rebates by state below, to help you determine what savings are available to residents from your state.
Keep reading below to find out just how much you can save by installing solar power today.
Solar Incentives Available Across the Country
Before getting into the state-specific incentives, remember that the federal government is on your side when it comes to solar power.
The federal program will reward homeowners with a 26% tax credit on their overall installation cost in 2022. If you wait until 2023, it will drop to 22%, before disappearing entirely in 2024.
The Best Solar Rebates by State
Not every state offers solar rebates, tax credits, or other incentives. While they may have done it in the past, most don’t offer state-wide programs anymore.
There are a few states that offer solar panel rebates, however.
You’ll get a 35% credit in Hawaii on home solar energy systems, thanks to its Renewable Energy Technologies Income Tax Credit (RETITC).
Residents of Arizona, New York, and South Carolina can qualify for a 25% tax credit on their solar power systems.
Massachusetts residents can get a 15% tax credit. New Mexico residents can get a 10% tax credit. Maryland and New Hampshire residents can get a $1,000 rebate. Those in Wisconsin can get up to $500 back.
In Connecticut, you can receive a rebate of $0.426 per watt of solar power installed. And Rhode Island residents can qualify for up to $7,000 in solar rebates.
Other Solar Benefits
In many states, while there might not be a tax credit or rebate, there are some helpful benefits for new solar installations. It’s common for states to waive sales tax on the purchase price of solar panels, which can save hundreds of dollars.
Many states also offer a property tax exemption, so you won’t pay taxes on the increase in property value that results from your solar panels.
Some states and cities, like San Francisco and Sacramento, will also provide cash rebates to those who install solar batteries to go with the solar panels.
You’re the best bet to understanding the current incentive programs that are available is to work with a national solar company, like Blue Raven Solar, to install your panels. They’ll have knowledge about all of the state and local programs available in your area.
Solar Power Is a Win-Win
It’s a great thing when the government is willing to give us money for doing something that benefits us, rather than only benefiting them. But solar power is a win-win.
The list of solar rebates by state, along with the national tax credit, could mean getting solar panels for very little out of pocket. Now is the best time to make the switch to solar, to start saving money and saving the planet.
Looking for other helpful articles like this? Head over to our blog now to keep reading.