Did you Know ?

The 26% federal solar tax credit has been
extended through 2022. Learn More.

Other Incentives

Check to see if your state offers additional tax credits and incentives.

Rebates and Incentives for Going Solar

After switching to solar, you become eligible for tax credits, rebates, and other incentives. These perks
may vanish as more people install solar power systems, though.

Tax Credits

This year’s tax season is over,but like all seasons,the next is just around the corner.

Fortunately, home and business owners who go solar receive a federal tax credit. If your solar installation is completed by December 31, 2022, you become eligible. The credit is worth 26% of the total cost for your solar power system installation. However, in 2023, the credit drops to 22%.there’s no maximum credit,either.the more you spend,the bigger your credit.

The federal tax credit expires for homeowners at the start of 2024. Solar installations for small businesses continue at just 10% until the start of 2025. The US government has not announced if it plans to extend the credit, so this may be your last chance for 26% savings off your solar installation.

The Federal Solar Investment Tax Credit at a Glance

26% for Homes and Businesses

26% for Homes and Businesses

22% for Homes and Businesses

10% for
Businesses Only

Individual states may also offer their own tax credits for solar installations. Check the DSIRE database for a list of all solar tax credits available in your state.

Rebates

Several US states, counties, cities, and utility providers offer cash-back rebates for solar installations. Some of these rebates can save you up to 10% to 20%, depending on your location and the rebates offered. However, like with tax credits, these rebates will end once a certain percentage of properties switch to solar in your area. Check the DSIRE database for a list of all solar rebates available in your state.
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Other Incentives

Some states and power companies offer additional kickbacks for switching to solar. These perks include performance-based incentives (PBIs) and solar renewable energy certificates (SRECs). Basically, PBIs and SRECs give you credits on your electricity bill, or even pay you cash, for generating solar power. PBIs and SRECs often come with strings attached, such as installing special monitoring devices (PBIs) or selling your credits at a specific marketplace (SRECs).

If you’re still a little confused regarding PBIs or SRECs, please contact us at Renewable Grid. We’ll be happy to explain how these work for you.

Check the DSIRE database for a list of all solar incentives available in your state.

The US government may extend the credit over additional years. Or, it may not.

Individual states, counties, cities, and utility companies may offer extra incentives for going solar. In some areas, you can get paid to collect solar energy. But as it goes with the federal tax credit, these local incentives may disappear soon. Learn more by clicking here.

Save on solar installation by scheduling an appointment with Renewable Grid today.