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Solar Incentives

There are many financial incentives available, for converting your home or business to solar energy. Click below to learn more about the leading incentives available.

FEDERAL INCENTIVES

STATE TAX CREDITS


State Tax Credits deduct a portion of the cost of a solar panel system from your state tax bill. Since these credits are issued by the State, they can vary significantly.




CASH REBATES


Rebates can vary but are typically issued by your municipality, utility company, or other organization that wants to promote solar energy. These rebates are limited in time and can vary by region.




SOLAR RENEWABLE ENERGY CERTIFICATES (SRECS)


SRECs vary by State. An SREC is a credit you can earn from your State for energy produced by your solar system. You can earn a single SREC when your solar system produces 1,000 kWhs of electricity. In some States, legislation requires utility companies to generate a percentage of their electricity from solar power. SRECs can be purchased by such utility companies so that they can comply with state-issued legislation. Selling SRECs can result in an additional source of income for home and business owners in eligible markets.




PERFORMANCE-BASED INCENTIVES (PBIS)


Some states or utilities offer performance-based incentives (PBIs). PBIs pay solar energy system owners a per kilowatt-hour credit for the electricity that their systems produce. Incentive rates are determined when the system is installed. PBIs may replace or exist alongside net metering policies.




TAX EXEMPTIONS


As described by The Solar Energy Industries Association:


Solar energy tax exemptions include both property and sales tax exemptions provided by state and local governments to individuals and companies that install solar energy property.

Property Tax Exemptions:
Property tax exemptions allow businesses and homeowners to exclude the added value of a solar system from the valuation of their property for taxation purposes. Such tax exemptions make it more economically feasible for a taxpayer to install a solar system on a residential or commercial property. Because property taxes are collected locally, some states have granted local taxing authorities the option of allowing a property tax incentive for solar. There are 38 states that offer property tax exemptions for renewable energy. For example, New Jersey enacted legislation exempting solar systems from local property taxes if the system is used to meet on-site electricity, heating, cooling, or general energy needs.

Sales Tax Exemptions:

Sales tax incentives typically provide an exemption from the state sales tax (or sales and use tax) for the purchase of a solar energy system. This type of exemption helps to reduce the upfront costs of a solar installation. There are 29 states that offer sales tax exemptions for renewable energy.

Review Tax Exemption Policies by State




GRANT PROGRAMS


There are a series of State and Private programs for energy efficiency, that can be redeemed for residential and commercial solar development projects. Search for Grant opportunities by State





STATE INCENTIVES

STATE TAX CREDITS


State Tax Credits deduct a portion of the cost of a solar panel system from your state tax bill. Since these credits are issued by the State, they can vary significantly.




CASH REBATES


Rebates can vary but are typically issued by your municipality, utility company, or other organization that wants to promote solar energy. These rebates are limited in time and can vary by region.




SOLAR RENEWABLE ENERGY CERTIFICATES (SRECS)


SRECs vary by State. An SREC is a credit you can earn from your State for energy produced by your solar system. You can earn a single SREC when your solar system produces 1,000 kWhs of electricity. In some States, legislation requires utility companies to generate a percentage of their electricity from solar power. SRECs can be purchased by such utility companies so that they can comply with state-issued legislation. Selling SRECs can result in an additional source of income for home and business owners in eligible markets.




PERFORMANCE-BASED INCENTIVES (PBIS)


Some states or utilities offer performance-based incentives (PBIs). PBIs pay solar energy system owners a per kilowatt-hour credit for the electricity that their systems produce. Incentive rates are determined when the system is installed. PBIs may replace or exist alongside net metering policies.




TAX EXEMPTIONS


As described by The Solar Energy Industries Association:


Solar energy tax exemptions include both property and sales tax exemptions provided by state and local governments to individuals and companies that install solar energy property.

Property Tax Exemptions:
Property tax exemptions allow businesses and homeowners to exclude the added value of a solar system from the valuation of their property for taxation purposes. Such tax exemptions make it more economically feasible for a taxpayer to install a solar system on a residential or commercial property. Because property taxes are collected locally, some states have granted local taxing authorities the option of allowing a property tax incentive for solar. There are 38 states that offer property tax exemptions for renewable energy. For example, New Jersey enacted legislation exempting solar systems from local property taxes if the system is used to meet on-site electricity, heating, cooling, or general energy needs.

Sales Tax Exemptions:

Sales tax incentives typically provide an exemption from the state sales tax (or sales and use tax) for the purchase of a solar energy system. This type of exemption helps to reduce the upfront costs of a solar installation. There are 29 states that offer sales tax exemptions for renewable energy.

Review Tax Exemption Policies by State




GRANT PROGRAMS


There are a series of State and Private programs for energy efficiency, that can be redeemed for residential and commercial solar development projects. Search for Grant opportunities by State





Testimonials

PCS (IT Company)  -  Anthony Mongeluzo (President)

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