Federal Solar Tax Credit or Investment Tax Credit (ITC)
The Investment Tax Credit is available to all, no matter the state you inhabit. In 2021 and 2022, this incentive provides a 26% deduction on the cost of installing your solar power system from your federal taxes.
The current Solar Investment Tax Credit offers a 26% rebate through 2022 which reduces to 22% in 2023. In 2024, the incentive will stand at just 10% for businesses with no tax rebate for homeowners.
What about ITC Extensions?
In 2020, Congress extended the ITC for a third time, giving homeowners more time to switch to solar and take advantage of the tax rebate. While there is a chance for another extension, switching to solar now will allow you to take advantage of the highest tax rebate available and you'll start enjoying the energy savings of your solar power system right away.
Solar Investment Tax Credit Plan
Other Incentives Your State May Offer
Net Metering / Net Billing
A process that collects energy from your solar panels produced during the brightest parts of the day and transfers the excess energy to your grid. Utility companies will use net metering to reward homeowners with energy credits.
If your state doesn't offer net metering, they may provide net billing. Similar to net metering, this incentive credits new customers for exporting energy to a grid.
Solar Easement Policies
These policies make it easier for your solar panels to generate electricity. For example, they take into account whether those living around you contribute to any hindrances interfering with your solar panel's energy production. This can include a tree with long branches extending onto your roof's solar panels, thus blocking critical sunlight. However, to take advantage of these easement policies, your neighbor must agree to the terms.
Renewable Portfolio Standard (RPS)
The RPS is a statewide policy that requires a certain percentage of electricity to be from renewable energy sources by a specific date in the future.
Solar Loans
A financing system homeowners can use to apply for solar panel installation. Some states provide low-interest or 0% interest loans to ease the switch.
Solar Renewable Energy Certificates (SRECs)
If you live in a state with a set SREC exchange, you're able to sell your solar renewable energy certificates to utility companies. These certificates are sold to help your state reach their solar RPS goal. A 10 kW solar panel system can generate up to 12 SRECs per year. Additionally, homeowners can expect to enjoy up to $300 per SREC sold, depending on where they live.
Solar Access Rights
These specialized rights offer homeowners protection against unreasonable restrictions with their solar panel installation.
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Delaware
Delaware, a small state with beautiful beaches and pleasant towns across the coast, has vast solar incentives that help make transitioning to clean energy an easier task for homeowners in the area.
Solar Renewable Energy Certificates (SRECs): These certificates allow citizens to sell their panels' power. In Delaware, the average rate is $25 per megawatt.
Solar Rebate Programs: There's more than a few rebate programs in Delaware that you can opt into for a cash return. Some of these programs include:
- Delmarva Power and Light: If you're a Delmarva Power and Light customer, you can cash into a rebate program that cuts back the cost of solar installations. Delmarva Power will also pay $0.55 per watt of solar with a cap of 5kW. After 5 kW, the rebate lowers to $0.20/W.
- Delaware Electric Cooperative: Homeowners using Delaware Electric Cooperative can enjoy a $0.85/W of solar power for up to 5kW and $0.25/W for anything exceeding the cap.
- Delaware Municipal Electrical Corporation (DEMEC): With DEMC's Municipal Green Energy program, you can receive a cash rebate that will cover a portion of solar installation fees. How much you get on the rebate will depend on where you live.
Net Metering: In Delaware, additional electricity produced from your solar panels can be sent to the grid for energy credits that lower your utility bill.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
New Jersey
Going solar in New Jersey is a fantastic choice! The Garden State sits within the top ten states in the country for solar energy. It's also one of the few places in the United States able to produce more than one gigawatt of solar capacity. So while many of us associate New Jersey with Bruce Springsteen, fun beaches, and resort cities, it might be time to realize the state is also a leader in pushing renewable energy initiatives.
Transition Renewable Energy Certificates (TRECs): TRECs help you while helping the state reach its Renewable Portfolio Standard. This is a transitional incentive that's similar to an SREC in the sense that the incentive is based on the production of your solar panel system. In most cases, the pricing for a TREC is fixed. The size of your incentive will also depend on your solar installation.
Solar Renewable Energy Credits (SRECs): For each megawatt hour of electricity your solar panels generate, your household will be given an SREC that you can sell.
Sales Tax Exemption: The sales tax accounts for a 100% tax exemption from any sales tax on your solar power system.
Property Tax Exemption: With the property tax exemption, you're immune from the sudden spike in property taxes that stems from the added value solar panels bring to your home.
Net Metering: Yes, New Jersey offers net metering to homeowners in the state. This means you are credited on your energy bill for surplus energy sent to the grid.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
New York
New York is home to one of the biggest urban centers in the world, filled with skyscrapers and endless rows of towering apartment buildings. New York is also among the top ten states for solar energy, so it's no surprise that homeowners belonging to the Empire State are free to access a great range of credits and tax exemptions when they switch to solar.
Solar Energy System Equipment Credit: You get $5,000 or 25% tax credit on your solar panel cost. This includes the cost of equipment and installation.
Property Tax Exemption: New York currently offers a 15-year tax exemption from the added value solar panels bring to your home.
NY-Sun Megawatt Block Incentive Structure: Provides payment-per-watt rebate available for commercial and residential solar power systems. The amount of money you receive through this subsidy depends on the amount of solar produced. In some cases, you can receive up to $1,000 for every kilowatt (kw) of solar power you install. Keep in mind that this incentive has a cap per block. After the solar production limit is met, the incentive will decrease. Once each block meets the cap, the incentive will no longer be accessible.
NY-Sun Initiative: The NY-Sun program wants to make it affordable for homeowners in New York to switch to solar. They do this by working directly with solar contractors and developers to lower the cost for residents to switch to solar.
Reforming the Energy Vision: This isn't a direct incentive, but it is a program working to make solar energy more affordable for those living in New York.
Sales Tax Exemption: You don't have to pay a sales tax on the solar power system in New York. The sales tax here equates to 4%.
Solar Easement Policies: Prevent objects around your property from interfering with your solar panel's energy production by utilizing New York's solar easement policies.
Net Metering: New York does currently support net metering, However, the state is in the process of phasing net metering out for an alternative means of compensation.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
Connecticut
Connecticut is so much more than just a quaint coastal state with beautiful towns, prestigious universities, gorgeous natural scenery, and rich historical heritage. It also provides many of its homeowners with a range of solar incentives to sweeten the deal for switching to clean energy.
Rebates: Connecticut offers rebates through their Residential Solar Investment Program (RSIP). With this program, you get a $0.426 per watt cost deduction. This reduction is managed by the Connecticut Green Bank and is usually based on the size of your system.
Sales and Use Tax Exemptions for Solar: That's right. Connecticut homeowners don't have to worry about paying sales tax on a solar system.
Property Tax Exemptions: Your property taxes won't increase if you purchase a solar system in Connecticut.
Solar Financing: Connecticut helps eligible homeowners finance their solar power system with the Energy Conservation Loan. This lifts the gate for families to borrow as much as $25,000 for 10 years with low interest rates of 0-6%.
Net Metering: Connecticut residents can partake in net metering, earing credit for excess energy generated.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
Hawaii
Living in Hawaii has many obvious perks. But are solar incentives one of them? We think yes. Hawaii has taken different impactful steps to bring them close to generating 100% of their electricity from clean energy sources by 2045.
One way they can get there is by maintaining a price reduction in solar panels, like the one they've been seeing for the past five years. They can also keep some of their solid solar incentives around for homeowners to enjoy.
Property Tax Exemptions: Homeowners in Hawaii receive a tax exemption from the value added to their home after installing a solar power system.
State Tax Credit: Say Aloha to a nice reward when you use Hawaii's statewide tax credit. This credit, known as the Renewable Energy Technologies Income Tax Credit (RETITC), means 35% of the cost you paid for solar panels will return to you after filing your taxes. The maximum tax reduction is $5,000.
Solar Financing: Low-interest solar loans are available in some cities in Hawaii, such as Honolulu. This accounts for a 0% interest loan you can apply for a new solar roof and installation. The loan extends for a period of 10 or 20 years. The state also offers a Green Energy Money Saver Program (GEMS), that provides special financing for rooftop solar power systems, solar batteries, and other solar equipment to eligible applicants.
Self Supply/Grid Supply: Hawaii has moved away from Net Metering and instead offers programs called "Grid Supply" and "Self Supply." "Grid supply" is most similar to net metering in the sense that you can receive credits for excess energy you send to a utility company or grid. However, you will get paid less than retail prices for it. There is also a cap on energy that will vary depending on your utility company. "Self Supply" applies to the installation of private rooftop solar systems and doesn't send energy to a utility grid. You will have to use solar batteries to store excess energy.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
Rhode Island
The state sitting by the seaside is working hard to promote renewable initiatives by providing residents with a wide range of alluring incentives.
Solar Grants: Rhode Island's solar grant programs provide $0.85 per watt to install solar panels with a valuation of $7,000. Therefore, setting up a 5-kilowatt system on your roof lets you receive over $4250 in cash rewards.
Renewable Energy Fund (REF): This incentive provides homeowners in Rhode Island with up to $7,000 to finance a photovoltaic system. You must apply for this incentive to take advantage of the benefits.
Renewable Energy Growth Program (REG): Homeowners ineligible for the Renewable Energy Fund can use the REG program to earn money for every kWh or energy their home's solar power system creates. This includes a credit rate of 29.65 cents for every kilowatt per hour they sell to power systems.
Solar Easement Policies: Prevent objects around your property from interfering with your solar panel's energy production by utilizing Rhode Island's easement policies.
Property Tax Exemption: Installing solar panels on your home won't lead to an increase in your property taxes with this exemption.
Sales Tax Exemption: You don't have to pay a sales tax for your solar power system thanks to the Renewable Energy Sales Tax Exemption.
Net Metering: Residents of Rhode Island can participate in net metering, a program that helps ensure residents of the city can sell the additional power produced from their solar panels.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
Alaska
Aside from being the country's biggest state, Alaska is also an outdoor enthusiasts' dream. The state's geography is excellent for fishing trips, snowboarding, kayaking, or hours-long hikes. Solar incentives available in Alaska make the state a strong proponent of sustainable energy solutions therefore making the switch to solar all more enticing.
Net Metering: Yep, Alaska offers net metering to its homeowners. You can send excess energy to the grid for credits.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
Washington
Washington is a nature lover's paradise. The Evergreen State is where you'll find great trees, extensive trails, parks, and gorgeous waterfalls. It's home to some of the country's biggest corporations, such as Starbucks, Amazon, and Microsoft. The state also produces a great deal of the country's apples. Currently, the state has various incentives to help residents transition to clean, renewable energy.
Solar Easement Policies: Washington's Solar Easement Policies ensures the solar panels belonging to residents can access optimal sunlight.
Sales Tax Exemption: As of July 1, 2019, Washington provides residents with a 100% sales tax exemption. This can be used on labor and solar power equipment.
Net Metering: Washington offers net metering to its residents, allowing Washingtonians to distribute surplus solar power and receive credits on their power bills.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
Oregon
Oregon is known for giving us the world's most famous athletic apparel company. It's also home to the famous Crater Lake National Park. Aside from being a scenic state and producer of innovative companies, Oregon provides various solar incentives.
Oregon Tax Credit: Refers to a credit on your Oregon state taxes that helps individuals cover various power expenses. This credit value averaged at $1.70 per watt, with thresholds of up to $6000.
Local Utility Rebates: Homeowners using PGE or Pacific Power get a solar rebate that adds up to $300 per kW, with a maximum of $2,400. You can also get a generous rebate if your utilities are from The City of Ashland, Eugene Water and Electric Board, or Salem Electric. Currently, the rebates are:
- The City of Ashland: A cash rebate of $0.50/W when you go solar.
- Eugene Water and Electric Board: This utility company will pay you $0.40/W to homeowners with solar panels.
- Salem Electric: Enjoy a $600 rebate for the first 3 kW you install and $300 for every additional kW.
Net Metering: If your address is in Oregon, you can enjoy net metering which allows you to earn energy credits for unused energy produced by your solar panels.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
Nevada
Nevada, the country's 36th state, is widely associated with the casinos, luxurious hotels, fine dining, and nightlife all awaiting in the popular city of Las Vegas. However, there is more to the "Silver State" than meets the eye. Home to a reliable supply of sunshine, Nevada is an excellent place to own solar products.
Solar Access Rights: This protects homeowners from unreasonable withholding or restrictions on their solar panels from common residential organizations, such as homeowner's associations.
NV Energy Residential Energy Storage Incentives: If you live in Nevada, you can use this incentive to save money when you install a new battery to your solar power system.
Net Metering: All Nevada residents can enjoy the benefits of net meterin, which lets solar homeowners sell surplus energy in exchange for credits.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
California
There's not much to dislike about California. It's one of the United States' biggest tourist attractions for both international and American travelers. There's also the weather, which is perfect if you enjoy sunshine and warmth, and the vast number of trails and National Parks makes it easy to spend an afternoon getting lost in nature.
California is also a very ambitious state, with a goal of relying 100% on carbon-free energy by 2045. To do this, the Golden State is utilizing a range of incentives for solar energy. This may be why the state is considered the best state to go solar.
Local Utility Solar Rebates: This incentive is about $0.20 - $1.25 per watt.
Property Tax Exemptions: In California, you don't have to worry about an increase in property taxes if a solar power system adds value to your home.
Self-Generation Incentive Program (SGIP): Treat yourself to an incentive when you purchase and install a solar battery with your rooftop solar power system. The amount you'll receive for the incentive will vary by the utility company and storage capacity.
Single-Family Affordable Solar Housing Program (SASH): Single-family households with an income 80% below the city's median income can receive rebates for installing solar panels. To qualify, you must receive service from Pacific Gas & Electric (PG&E), Southern California Edison (SCE), or San Diego Gas & Electric (SDG&E).
Solar Financing: Paying for solar energy is easier with PACE (Property Assessed Clean Energy). In California, PACE offers a financing program known as the Home Energy Renovation Opportunity (HERO). This program gives homeowners the ability to finance their photovoltaic system while paying it back through property taxes.
Net Metering: Californians can send electricity back to the grid for energy credits.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
Arizona
Sunshine is bountiful in Arizona, easily making it among one of the top 10 solar states in the United States. Then there's also the price reduction in solar panel prices and battery storage, making it even more affordable for homeowners to switch to solar before they even utilize the state's incentives. If you live in the desert state, you'll be happy to know the incentives here are also generous.
Residential Solar Energy Tax Credits: You'll receive 25% off the total cost of the solar system, or a maximum of $1,000 from your personal income tax.
Sales Tax Exemptions: You won't have to pay sales tax on the solar system.
Property Tax Exemptions: If solar installation adds value to your home, this will not be included when your property is assessed for tax.
Net Billing:Instead of Net Metering, Arizona utilizes another incentive called "net billing." This alternative form of compensation credits customers for the energy sent to their solar grid.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
Utah
Utah is a rugged, mountainous haven that many flock to for an outdoor excursion. From canyons to ski slopes, Utah is geographically diverse and has a little something for everyone. If you live in Utah, you'll be happy to know the Beehive State has incentives for solar energy.
Renewable Residential Energy Systems Credit: Setting up a solar system in Utah means you can claim a credit for fees stemming from the purchase and installation of your system.
Solar Easement and Rights: Utah's Solar Easement and Rights laws help ensure that your panels have access to proper sunlight and are free from obstruction, such as from a neighbor's landscaping or property development interference.
Energy Compensation: Utah is one of those states that offers an alternative form of compensation rather than net metering. In this state, net metering is capped. Until 2032, new customers will have export credits that their utility company determines.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
Idaho
Idaho is a state many know for growing potatoes in abundance. Its combination of lush mountainous and farmland landscapes are also noteworthy and encourage tourists to flock to the state each year. While Idaho doesn't typically receive attention for their solar energy efforts, this doesn't mean the state hasn't made big steps in promoting renewable energy.
State Tax Credit: Idahoans with solar power systems are eligible for a state tax credit. This credit, known as the Residential Alternative Tax Deduction, means 40% of the cost you paid for solar panels will return to you after filing your taxes. The tax deduction also gives you the freedom to extract 20% of the cost of equipment and installation each year for three years post-installation. The deduction has a max of $5,000 per year and $20,000 total.
Low-interest Energy Loans: Idaho's State Energy Loan Program offers low-interest loans for individuals who wish to install solar systems. The loan gives homeowners access to up to $15,000 for a span of five years. The interest rate is 4%.
Solar Easement Policies: Prevent objects around your property from interfering with your solar panel's energy production by utilizing Idaho's solar easement policies.
Net Metering: Idaho doesn't have a statewide requirement for utility companies to provide net metering, but a few companies offer it, allowing customers to sell their extra energy for credit on thier utility bill. These companies include Rocky Mountain Power, Idaho Power, and Avista Utilities.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
Montana
Montana is a rocky mountain state with some of the best scenic environments. It's also the country's fourth-largest state, and likely has more wildlife than people, seeing as how it's ranked 44th in state population. Tourists will appreciate Montana's range of national parks offering scenery and the opportunity for adventure. Locals and visitors alike can also enjoy the Treasure State's quirky geography that makes for unique sight-seeing opportunities. When it comes to solar energy, residents looking to make the switch will be happy to know there are generous incentives they can enjoy.
State Tax Credit: Montana's state tax credit provides a tax credit for 100% of the price of a solar grid system. The credit has a maximum of $500 for individuals and $1,000 for households where there's more than just one taxpayer.
Property Tax Exemption: Avoid paying for the increase in property taxes that stem from installing solar panels with Montana's Renewable Energy Systems Exemption. This ensures up to $20,000 of the added value from your solar power system is 100% exempt from property taxes for 10 years.
Net Metering: You can use this power management system to sell surplus power to electrical utility companies.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
Wyoming
Landlocked and dry, Wyoming is one of the most ideal states for filming an epic Western movie. It has many national parks and a hot spring that residents and tourists can enjoy. The Cowboy State also offers homeowners in the area with solar incentives to make switching to renewable energy more enticing.
Net Metering: Wyoming has net metering, so you can distribute surplus solar power to the grid for energy credits.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
Massachusetts
Along with its rich history, prestigious universities, and being a top performer in championship sports, remember Massachusetts for sustainable solutions.
Residential Renewable Energy Income Tax Credit: This is a renewable energy credit of 15% homeowners can apply to income taxes for their solar power systems. The maximum credit limit is $1,000.
Solar Massachusetts Renewable Target (SMART): The government in Massachusetts is encouraging the expansion of solar energy with the SMART program. We must say, this sounds like a smart idea. SMART involves a fixed-rate payment to customers of Eversource, National Grid, and Until, based on the amount of (kWh) of energy a system can produce.
Mass Solar Loan Program: When you use this new state-level incentive program, you can finance your PV solar system with a fixed-rate payment loan.
Sales Tax Exemption: In Massachusetts, you don't have to worry about paying a sales tax on your solar power system.
Property Tax Exemption: The added value solar panels bring to your home will not increase your property taxes with this exemption.
Net Metering: With all the other incentives available to homeowners in Massachusetts, it's no surprise net metering is just another to add to the list. Homeowners in this New England territory can receive credits for excess solar from their grid.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
Colorado
Colorado's mountainous region is a draw for many of the outdoor adventurers who enjoy hiking or skiing down the rocky hills in Vail or Aspen. The state is mostly known for its landscapes, but renewable energy may soon earn more recognition in the area. With an average of 300 days of sunshine a year and solar incentives available to its residents, solar power is revolutionizing how Coloradoans can power their properties.
Local Solar Rebates: Several local organizations and utility companies provide rebates for property owners that want to set up solar products. A good example would be EnergySmart Colorado, which can offer rebates up to $3,000. You can also try seeking a rebate from Holy Cross Energy. This organization offers a per-kilowatt incentive for customers to help ease the cost some homeowners feel when they are switching to solar energy. This incentive starts at $500/kW for the first 6 kW you produce.
Property Tax Exemptions: In the Centennial State, homeowners don't have to worry about an increase in their property taxes after installing solar panels on their home.
Sales Tax Exemptions: That's right, with this exemption, you won't have to pay sales tax on the solar system.
Colorado Community Solar: This program helps homeowners who want to go solar but don't own their home or don't have a roof that's fit for solar panels. With community solar, you can use solar energy from an off-site solar power system.
Xcel Energy Solar Renewable Energy Credits (SRECs): You can sell your panel's solar renewable energy certificates to utility companies.
Net Metering: In Colorado, you can sell any surplus power produced from panels to utility companies.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
New Mexico
On average, New Mexico is sunny 293 days per year. This Southwestern territory has beautiful natural attractions, from mountains and lakes to caverns and sand dunes, the scenery here is eclectic and perfect for capturing. Over the years, New Mexico has grown into one of the nation's leaders of clean energy. The incentives available in this state prove New Mexico's dedication to renewable energy sources.
Utility Rebate: Customers of El Paso Electric Company who are in the renewable energy certificate purchase program can receive $0.02 per kilowatt-hour of electricity their solar power system generates.
Sustainable Building Tax Credit: This incentive program can give you $6.50 per square foot of your solar roof for owning sustainable solutions. To enjoy this incentive, the US Green Building Council will need to certify your property.
Solar Tax Credit: New Mexico's solar tax credit lowers your state taxes at a maximum of $6,000. Or you can use this credit to deduct 10% off your total solar panel fees.
Property Tax Exemption: Solar panels will increase the value of a home, but this incentive exempts you from a spike in property taxes.
Net Metering: In New Mexico, you can send surplus energy to the grid in exchange for credits.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
Texas
Texas, one of the nation's largest states, known for coining the term "ya'll" and gifting the rest of the world Dr. Pepper, rodeos, and delicious barbeque, is also one of the country's sunniest places. This ranking makes it an excellent place to own solar power systems. There are several solar incentives available for homeowners in the Lone State State.
TXU Renewable Buyback Plan: Earn money by selling the extra power your solar panels produce to TXU Energy.
Solar Rebates: Texas utility companies are currently offering solar rebates that will help you earn money from your system. The companies include Guadalupe Valley Electric Cooperative, Garland Power and Light, the City of Sunset Valley, CPS Energy, and Austin Energy. Austin Energy offers rebates for as much as $2,500, as well as Austin Energy's Value of Solar Tariff. This gives $0.097 for each kilowatt-hour, kWh, your panels produce. CPS Energy's rebate will pay you up to $1.20 per watt of solar panels on your roof.
Solar Rights Laws: In Texas, private property owner's associations can't interfere with the solar panels on your home or prevent you from installing them.
State Property Tax Exemption: Installing a solar system in your home will increase the value of your home. However, Texas has an exemption that keeps the increase free from state taxation.
Net Metering: While Texas doesn't have a state-wide net metering system, there are utility companies within the state offering compensation for energy production. These include Green Mountain Energy, El Paso Electric, CPS Energy, and the City of Brenham.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
Oklahoma
Oklahoma is a large state known for sitting in tornado alley and embracing cowboy culture. Oklahoma is also in the Great Plains with over 200 sunny days a year for residents and visitors to use to their advantage. All this sunshine also makes it an easy decision to use solar panels for energy at home.
Net Metering: In Oklahoma, you can exchange excess solar energy for credits.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
Kansas
The Sunflower State's growing embrace of renewable energy is making it more affordable and easy for homeowners to make the switch to solar.
Property Tax Exemption: Thanks to the Renewable Energy Property Tax Exemption, the added value your solar panels bring to your property is exempt from taxation for 10 taxable years.
Solar Easement Policies: These policies ensure that the items around your property can't block your solar panel's access to the sun for energy production.
Net Metering: In Kansas, residents can exchange extra power back to the grid for energy credits.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
Nebraska
Sitting at the center of the Midwest, Nebraska is the land of the corn huskers. It has vast farmland perfect for corn and beef production. It's given us one of the world's greatest businessmen (ahem, Warren Buffett), Command strips, and the Reuben sandwich. But where does the state stand with solar incentives?
Solar Easement Policies: Use these policies to prevent objects around your property from interfering with your solar panel's energy production.
Net Metering: In Nebraska you can send energy back to the grid in exchange for credit on your utility bill.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
South Dakota
Well-known for Mount Rushmore and ranked as the 16th largest state in the country, South Dakota is historically and culturally rich. Natural beauty is found in the Badlands or within the lakes flowing through the Coyote State. South Dakota shows its support for renewable energy with solar incentives residents can enjoy.
Property Tax Exemption: Installing a solar power system on your home is likely to increase the value of your property. With this incentive, the increase in value is free from taxation.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
North Dakota
North Dakota, our 39th state, sits up against the border of Canada and has plenty of beautiful land to marvel at. That is, if you can see it under the layers of snow. Apart from being a leading agricultural producer, North Dakota's solar incentives make it a great place to install solar panels.
Property Tax Exemptions: With this exemption, you don't have to worry about taxation from the increased value installing solar panels adds to your home.
Solar Easement Policies: These policies are here to help prevent objects around your property from interfering with your solar panel's energy production.
Net Metering: In North Dakota, you can sell excess solar power your system produces.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
Minnesota
Sitting up along the northern coast of the United States, Minnesota borders Canada and is known for offering residents and tourists countless adventure opportunities in any of its 10,000 lakes. The state became a shopper’s paradise when it opened Target in 1962, and again with The Mall of America in 1992. Currently, Minnesota has a range of sustainable solutions for Minnesotans seeking clean energy and a reduced carbon footprint.
Sales Tax Exemption: Families in Minnesota don’t have to worry about paying a sales tax on the solar panel system they purchase.
Property Tax Exemption: Xcel Energy treats their customers to a solar rewards program that pays an average of $0.08 per kWh of energy you produce. This incentive program lasts for up to 10 years.
Solar Sense: Minnesota Power's Solar Sense program offers a rebate to cover the upfront fee of installing solar power systems. You must submit an application to qualify. Click here for more information.
Net Metering: In Minnesota, you can send energy back to the grid in exchange for solar credits.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
Iowa
Iowa is a top state for using renewable power solutions. Right now, the Hawkeye State offers an assortment of incentives to help make producing power with solar panels more appealing to homeowners.
Residential Solar Tax Credit: This special incentive is great because it sends 15% of the system's cost back into your pocket. The credit's maximum average is $5000.
Renewable Energy Property Tax Exemption: Another great incentive, this exemption maintains that any added value to your property from the solar panel's installation is free from taxation.
Sales Tax Exemption: Your solar power system is free from sales taxation.
Solar Easement Policies: Rest easy knowing the items around your property can't block your panel's energy production with Iowa's solar easement policies.
Net Metering: In Iowa you can sell excess solar energy back to your grid.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
Vermont
Vermont has gorgeous scenery that's enhanced by its forests, mountain terrains, and slopes. Many appreciate the state for giving us delicious maple syrup and a famous ice cream company. Vermont is also among the top states in the country to support sustainable energy solutions.
Property Tax Exemption: Frees your property from additional taxation resulting from the increased value solar panels bring to your home.
Sales Tax Exemption: Your solar power system is free from a sales tax thanks to this state-wide exemption.
Community Shared Solar: This program lets homeowners use solar energy to power their home from an off-site, shared solar power system. Other benefits of community solar include credits to finance utility bills and additional incentives to cover the first 10 years of connection.
Net Metering: Homeowners in Vermont can receive energy credits when they exchange excess solar energy to the grid.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
Missouri
Missouri has long been competitive in professional sports and the ongoing debate for best barbeque. Sure it's got Katy Trail and the start of Route 66, but the Show Me State is also a terrific hub for solar incentives. These are great for encouraging and helping residents transition their home to one that runs on clean, renewable energy.
Columbia Water & Light Solar Rebate: Customers who use this company and have a solar power system with 0-10 kW can get payments anywhere from $375 to $625 per kW of energy produced.
Kansas City Power and Light Solar Rebate: Kansas City Power & Light customers are eligible to receive rebates on a per watt basis.
Empire District Electric Solar Rebate: Homeowners using Empire District Electric Solar can receive a rebate with a maximum of $2/W.
Amaren Missouri's Solar PV Rebate: This rebate gives customers the opportunity to receive $0.25/watt upfront when they install solar panels. If you have an 8 kilowatt (kW) system, this adds up to $2,000 in savings. This rebate has a cap at 25 kW for homeowners and 150 kW for commercial customers.
Property Tax Exemption: In Missouri, you're exempt from property tax increases resulting from the value added to your home after installing a solar power system.
Net Metering: Missouri lets you send energy back to the grid in exchange for solar credits.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
Illinois
If you're a homeowner living in Illinois, you know how nice it is to treat yourself to a deep dish pizza or a Chicago-style hot dog. There's also a myriad of professional sports teams you get to watch duke it out on the court. In recent years, the Land of Lincoln has also shown an interest in clean energy for its residents. The state has a renewable energy portfolio standard showcasing its firm commitment to producing 25% of its electricity from renewable resources by 2025. To get there, it's offering homeowners in the state a hefty load of solar incentives.
Property Tax Exemption: There is a tax exemption on the added value your home incurs after the system is installed.
Solar Renewable Energy Credits (SREC): Illinois has an Adjustable Block Program (Illinois Shines) that for each megawatt hour (MWh) of electricity your solar system produces, you receive one solar renewable energy credit in return.
Illinois Solar for All (ILSFA) Low-Income Community Solar Program: Low-income communities looking to go solar can find incentives from ILSFA.
Net Metering: Yes, Illinois offers net metering. This means you can sell excess solar energy back to the grid. However, the state is also looking to transition to alternative forms of compensation.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
Wisconsin
Raise your hand if hearing "Wisconsin" makes you think of cheese, freezing winters, or the Green Bay Packers. The state, largely made up of beautiful farmland, has also adopted incentives to attract its residents to solar energy, making it a great place to switch to solar.
Local Solar Rebates: Wisconsin currently offers a rebate program known as Focus on Energy. This renewable reward program ensures citizens can access rebates that average up to $500. The good thing about this rebate is that you're eligible for the program no matter the size of your solar power system or cost of the total project.
Property Tax Exemption: Installing a solar system will increase the value of your home. However, Wisconsin's property tax exemption keeps the increase free from state taxation.
Sales Tax Exemption: You won't have to pay sales tax on the solar power system.
Solar Access Rights: "America's Dairyland" wants to ensure you get the most value from your new solar system. Take advantage of the state's solar access rights to make sure your panels have access to sunlight where you live.
Net Metering: If you live in Wisconsin, you can send extra power from your solar panels to the grid for energy credits.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
Michigan
From the automotive industry to the birth of Motown, Michigan continues to play a pivotal role in shaping America. The Great Lake state also provides several solar incentives for its homeowners.
Michigan Saves Home Energy Loan Program: This loan program provides homeowners with more opportunity to access solar energy. Currently, the loans can reach up to $30,000.
Property Tax Exemption: Yes, your property is free from an increase in property taxes when you install solar panels. Governor Gretchen Whitmer brought back Michigan's property tax exemption for solar panel installation in 2019.
Energy Compensation: Michigan is pivoting away from net metering. Instead, they are using an alternative program that credits you for close to half of the full amount of power you transport back to the power grid.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
Indiana
Pawnee, Indiana may be fictional, but the state of Indiana still offers its residents lots of charm and tradition across its pastures. Not to mention the impressive resume of sporting events, tournaments, and professional teams to cheer on. Hoosiers wondering what type of solar incentives they'll be able to enjoy in their great state will be happy to know there's more than just the Federal Solar Tax Credit.
Property Tax Exemption: Indiana offers a property tax exemption, meaning the increase in value from adding solar panels to your home won't increase your taxes.
Sales Tax Exemption: You don't have to worry about paying a sales tax on the solar power system in Indiana.
Solar Easement Policies: Prevent objects around your property from blocking your panel's energy production with Indiana's solar easement policies.
Net Metering: Yes, Indiana currently offers net metering. However, the state is seeking alternative forms of compensation and will phase net metering out completely in 2022. To use net metering in Indiana, your solar power system must be less than 1 megawatt in size.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
Kentucky
The "Bluegrass State," as it's commonly known, has the popular Kentucky Derby, unique cuisine, and gorgeous natural attractions for residents and tourists to enjoy. Below are the significant solar incentives the state provides.
Solar Easement Policies: If you live in Kentucky, your state can help you prevent objects around your property from interrupting your panel's energy production with solar easement policies.
Net Metering: Kentucky is transitioning to an alternative form of compensation that differs from net metering. As of January 2020, Kentucky will require the Public Service Commission to be responsible for establishing crediting structures based on dollar value instead of kilowatt-hour net metering.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
Tennessee
Many people regard Tennessee as the Home of the Blues or the Birthplace of Country Music. Others associate it with Graceland and the legendary singer, Elvis Presley. Culinary experts will note the city for its barbeque and chicken. Outdoor enthusiasts will appreciate the state's rolling hills. But residents seeking solar energy solutions will appreciate the state's incentives that make transitioning to clean energy more attractive.
Solar Easement Programs: Prevent objects around your property from interfering or obstructing your solar panel's energy production when you utilize Tennessee's solar easement policies.
Property Tax Exemptions: The state's Green Property Tax Assessment means your property taxes won't increase after a solar power system installation.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
Arkansas
Arkansas has hot springs, diamonds, and a range of solar incentives for homeowners to enjoy when they decide to install solar panels at home.
Solar Easement Policies: Solar easement policies help you get the most out of your solar power system by preventing the objects around your property from obstructing the panel's energy production.
Net Metering: Yes, Arkansas has net metering. This means you can get credits when you send solar electricity back into the grid.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
Louisiana
Louisiana is a state full of delicious Cajun cuisine, vibrant music, and rich traditions (we're looking at you Mardi Gras). The Bayou State is also a solar-friendly place to live in thanks to these incentives.
Home Energy Loan Program (HELP): This incentive involves a five-year loan distribution from the Louisiana Department of Natural Resources to families who want solar power on their property.
Net Metering: Louisiana has mandatory compensation other than net metering. Currently, the utility companies here must continue to accept net metering until they meet a cap.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
Mississippi
Mississippi may be the Catfish Capital of the world, but it's also a state tha's taken steps forward by embracing the benefits of sustainable power solutions. To make this possible, they have the following incentives in place:
Energy Compensation: Net metering isn't available in Mississippi, however, the state offers an alternative form of mandatory compensation. Instead, any electricity exported to the grid is credited at a less-than retail rate.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
New Hampshire
New Hampshire sits in the New England region, with plenty of open spaces and outdoor activities for locals and tourists to enjoy. The Granite State also has many incentives and rebates available for its residents.
Small PV Systems Program: A solar system that's 10(kW) or less will qualify for the state-based incentive program. The plan pays specific rates per watt of power produced by an energy system. The incentive covers up to $1,000 or half the cost of the system.
New Hampshire Low-Income Energy Assistance Program (LIHEAP): Low-income households can join this financing program to help cover the cost of renewable energy.
Property Tax Exemption: With this exemption, you don't have to worry about paying property taxes for your solar panel installation.
Solar Easement Policies: You can count on these policies to help prevent objects around your property from interfering with your solar panel's energy production
Net Metering: In New Hampshire, you can sell surplus energy for credit on your energy bill.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
Alabama
If your place of residence is in Sweet Home Alabama, you'll be happy to know the state is slowly becoming sweeter on solar energy. Sure, Alabama has a reputation for being a strong producer of the natural resources we use to create iron and steel, but it's also a great state for producing solar energy. Alabama's solar incentives are attractive enough to encourage its homeowners to make the switch.
Property Tax Exemption: Based on the Alabama tax code (Section 40-9B-1), one can access various property tax credits for renewable energy.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
Florida
With a nickname like "The Sunshine State", you would expect Florida to have plenty of options for statewide solar incentives. The state synonymous for golf courses, tropical weather, and leisure activities also recognizes the benefits of renewable energy. This is evident by their impressive incentive options.
Sales Tax Exemptions: You won't have to pay sales tax on the system if you buy it in Florida.
Solar Financing: Florida offers residential PACE programs to make financing solar more accommodating for your budget.
Property Tax Exemptions: Don't worry about your property taxes skyrocketing after installing solar panels on your roof. Florida offers tax exemption on home value after the installation of a solar power system.
Net Metering: Florida offers net metering. This means homeowners can receive energy credits when they send excess solar energy back to the grid.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
Georgia
From vibrant Atlanta to historical Savannah, Georgia is a wonderful state with lots to see and do. If you're a resident of the Peach state and looking to choose solar power, you have a few incentives available to you.
Net Metering: Georgia does offer net metering, but it's not required in the state. Therefore, you'll need to verify eligibility with your utility company.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
South Carolina
South Carolina is full of southern charm. From the elegant French Quarter in Charleston to the tranquil tropical hideaway in Myrtle Beach, the state can be seen as an oasis for all who visit or live there. The Palmetto State's beautiful weather also makes it an excellent contender for solar panels.
South Carolina Solar Energy Tax Credit: South Carolina residents can gain up to 25% from their solar costs as tax credits. This credit can roll over for 10 years if you don't pay enough in taxes for the incentive's full value.
Utility Incentives: Utility companies in South Carolina say thanks for switching to solar with a number of incentives. These include incentives for using solar power, and their specifications relate to your chosen company. These include Santee Cooper, Duke Energy Progress and, and South Carolina Electric.
- Duke Energy Progress: If you're a Duke Energy Progress customer, you'll love this rebate. The company currently offers a $1.00 rebate for every watt of solar energy you install on your property. That means a standard 6-kilowatt system can put $6,000 in your pocket. Talk about return on investment!
- Santee Cooper: Santee Cooper customers get to join in on the rebate fun, too. The utility company has a rebate program of $1.30/W of solar energy you install on your roof. This rebate can total $5,200.
Net Metering: Citizens in South Carolina can sell unused solar power for credits toward their energy bill.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
North Carolina
The bragging rights are plentiful in North Carolina. For one thing, you can say you live in the state that jump started Michael Jordan's basketball career. There are the coastal beaches that make perfect for weekend getaways and National parks and mountain ranges, like the Blue Ridge Mountains and Great Smoky Mountains National Park that offer attractive scenery. Thanks to the state's exceptional solar programs and incentives, renewable energy is becoming more accessible for many homeowners seeking sustainable energy solutions.
Building Permit Rebates: This incentive applies to residents in Asheville. It provides you with a rebate on your building permit for setting up commercial and residential solar products.
Property Tax Exemption: North Carolina's property tax exemption frees your property from taxation because of the increased value solar panels bring to your home.
Local Solar Rebates: Customers of Duke Energy get to enjoy a rebate program that can earn you money. Currently, a 6-kilowatt system provides a rebate of $3,600. While Duke Energy can run out of financing for the rebate program, there is a waitlist homeowners can join.
Revolving Loan Options: Flexible financing options for solar panel systems are possible with the state's revolving loan options. The interest rate on these loans can't exceed 8% and can last no longer than 20 years.
Net Metering: North Carolina residents get the privilege of selling any extra power produced from their systems.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
Virginia
Virginia, the land the English settlers first arrived to, has grown into one of the country's most historically vast epicenters. This extensive history has earned Virginia the nickname the "Mother of States." Traditionally, Virginia was known for its tobacco production, but over the years the state has become more aggressive in its efforts to produce solar energy. This is evident with the Clean Economy Act, an initiative requiring all the state's electricity comes from clean energy sources by 2050. As a result, the state is home to incentives, making it more convenient and tempting for residents to go solar.
Property Tax Exemption: Any increase on your property's value due to solar products is free from tax obligations.
Net Metering: In Virginia, you get credits or cash in exchange for surplus solar energy to utility companies.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
West Virginia
Tucked in the Appalachian region, West Virginia is a smaller state with rugged appeal and plenty of natural scenic beauty. The state has incentives for homeowners to use when going solar.
Net Metering: West Virginia has a net metering system that allows homes producing surplus power to send it back to the grid in exchange of cash or tax credits.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
Ohio
Home to the Buckeyes, Neil Armstrong, and eight U.S. presidents, Ohio is a renowned state that's helped move the country forward in a number of ways. It's also a state responsible for ensuring the legacy of some of the country's biggest icons live forever, thanks to two commemorative institutions that started here: the Rock-and-Roll Hall of Fame and Pro Football Hall of Fame. Many residents have taken up solar energy solutions, and below are some of the incentives they enjoy.
Solar Renewable Energy Credits (SRECs): Ohio has pledged to produce 12% of its power from renewable resources by 2027. To meet this initiative, Ohio relies on SRECs to allow people to sell electricity for cash. Therefore, for each megawatt hour of electricity your solar panels generate, your household will be given an SREC that you can sell.
Interest Rate Reductions: The state offers Ohioans with conservation programs that provide access to affordable financing for solar energy products. This includes the Energy Conservation for Ohioans Program (ECO-Link). Applying for this program can help you receive up to a 3% reduction in the interest rate of your bank loans.
Net Metering: If you live in Ohio, you can earn credit toward your utility bill for any excess energy sent back to the grid.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
Pennsylvania
Pennsylvania, one of the biggest industrial hubs of the United States, has quite a few attributes working in its favor. It's the "Snack Food Capital of the World" and home to two professional football teams, one of which has won the Super Bowl six times. Similar to other states, Pennsylvania has extensive historical narratives rooted deep within its soil. Over time, the state has become famous for producing immense amounts of energy from sources that include coal, oil, and solar.
Solar Renewable Energy Certificates (SRECs): Living in Pennsylvania means you're eligible for solar renewable energy certificates. This gives you the freedom to sell your solar renewable energy certificates to utility companies.
Solar Easement Policies:Use these policies to prevent objects around your property from interfering with your solar panel's energy production.
Net Metering: Yes, Pennsylvania has net metering, which allows you to sell excess energy generated for credit on your utility bill.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
Maryland
Tucked along the Eastern coast, Maryland is where Chesapeake Bay sits and is where our national anthem was born. The state is also known for its blue crabs, eclectic terrain, and impressive professional sport teams. In recent years, Maryland has become a strong advocate for solar initiatives thanks to their range of incentives for clean energy. The state also has an ambitious renewable portfolio standard of producing 2.5% of electricity from solar in 2020.
Solar Renewable Energy Credits (SREC): Maryland will give you a SREC for each megawatt-hour (MWh) of solar energy you produce at home that you can sell to the SREC market.
Sales Tax Exemption: A great benefit to going solar in Maryland is that your solar power system purchase is tax free.
Property Tax Exemption: With the Property Tax Exemption for Solar and Wind Energy Systems, you don't have to worry about your property taxes increasing from the added value a solar install adds to your home.
Residential Clean Energy Rebate Program (R-CERP): This rebate program provides you with $1000 just for purchasing a solar power system.
Net Metering: In Maryland, you can exchange your excess solar energy from your panels for solar credits.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.
Maine
There's lots to admire in this coastal city. It gives us delicious lobster and breathtaking views of lakes and forests. Sitting in the northernmost part of the East Coast, one may not assume Maine is ideal for solar power. But don't count it out! The Pine Tree State is a strong proponent of sustainable power solutions thanks to the many incentives it has put in place to encourage solar installations.
PACE Loans:You can finance your new solar power system with the Property Assessed Clean Energy Loan, which involves a tax assessment to help pay solar power loans. Your clean energy loan can amount to over $15,000 for 15 years.
Community Solar: Residents here can opt into large, shared solar installations that pull energy from a community solar farm. This is great for renters and homeowners in the city who want to invest in high-performance solar solutions.
Net Metering: Yes, in Maine you can partake in a net metering program that allows residents to sell the additional power produced from their systems.
Federal Solar Tax Credit (ITC): Available to every state, this tax rebate is equal to a percentage of the cost of your solar panel system.