Solar Incentives For You!

There are two main types of solar incentives: 1. Tax Credits 2. Solar Renewable Energy Credits (SRECs) Tax Credits Federal and state governments offer tax credits to encourage homeowners and businesses to go solar. The federal government offers a tax credit of 30% of the cost of your solar installation, with no upper limit. This tax credit is available for both residential and commercial solar installations. State governments also offer solar tax credits, but these vary from state to state. In some states, the solar tax credit is based on the size of your solar installation, while in others it is a fixed amount per kilowatt of solar installed. Solar Renewable Energy Credits (SRECs) Solar Renewable Energy Credits (SRECs) are another type of solar incentive, and are available in some states. SRECs are credits that are earned for every megawatt-hour (MWh) of solar energy produced. These credits can then be sold to utilities, who use them to meet their renewable energy targets. The value of SRECs varies from state to state, but is typically between $10 and $15 per MWh. Now that we’ve discussed the two main types of solar incentives, let’s take a look at how you can take advantage of them.