Solar Power Incentives: A Bright Opportunity for Savings
Solar energy is rapidly growing creas a clean and renewable resource. Governments and utilities around the globe are incentivizing its adoption. These incentives can dramatically lower the initial investment associated with installing solar panels, enabling a more compelling proposition.Solar Power Incentives
Popular Solar Power Incentives
Tax Credits:
Finances * Federal Tax Credits — A federal tax credit you can utilize in some countries that will lower your tax bill as a percentage of the cost of your solar system.
State and Local Tax Credits: In addition to the federal tax credit, state and local governments may provide other solar energy tax credits or exemptions as part of their own incentive programs.
Rebates:
Cash Rebates:** This is cash that certain states and utilities will pay to homeowners and businesses to help in the installation of solar panels. They can both lower the initial cost of a solar system by quite a bit.
Net Metering:
Net metering is an arrangement where you can in turn sell any solar energy produced but unused back to the grid at a rate that is comparable to what you pay for electricity. Which may help reduce your energy expenses, there is also a potential income opportunity it can offer.
Property Tax Exemptions:
For example, some states exempt solar panels from property taxes, lowering the total cost of ownership even further.*
Low-Interest Loans:
Its common practice for governments and financial institutions to offer solar panel installations low interest loans to make the initial cash outlay more affordable.
Finding Solar Power Incentives
To find the incentives specific to your area, you can:
Talk To A Solar Installer — Many solar installers know state and federal incentives available.
Utility Company — Many utility companies offer rebates or other incentives for solar energy (check with your company).
Search The Internet:** Sites such as the Database of State Incentives for Renewables & Efficiency (DSIRE) list incentives by state in a thorough format.
Contact Your Local Government — Local government offices