Solar incentives are a great way to save money on your new solar installation
The Solar Industry, along with other industries are influenced by politics and government. The fossil industry with the largest companies in the world, got a total of $5.9 Trillion In Subsidies in 2020. So let’s not harp about some new government subsidies for the Solar Industry.
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.
Solar for All Single-Family Solar:
If you’re considering going solar, the first step is to find out if there are any solar incentives available in your state. You can do this by searching the Database of State Incentives for Renewables and Efficiency (DSIRE). Once you’ve found out what solar incentives are available in your state, you can talk to a solar installer to get an estimate of the cost of your solar installation. Be sure to ask about the solar incentives available, as this can make a big difference in the overall cost of your solar installation.