Connecticut Solar Incentives
If you're a homeowner in Connecticut who is considering solar panel installation, you're in the right place! Like many states, Connecticut has incentive plans to make the cost of installing solar panels more affordable.
Connecticut residents pay some of the highest rates in the US for electricity, at 27.34¢/kWh. So any savings from installing solar panels is sure to add up fast. In addition, solar installation incentives make the switch to solar that much more affordable.
We offer free solar estimates! Talk to our local advisors today!
Federal Solar Investment Tax Credit (ITC)
As with all states, the Federal ITC applies to Connecticut residents, saving 30% off the cost of installing solar right away. This is applied as a deduction from your next year's tax filing. Of course, to fully benefit from this incentive, you have to owe more in taxes than the credit amount..
Property Tax Exemption For Solar Powered Homes
Homeowners can also get a discount on their property taxes after installing solar panels. Since these increase the value of a home, normally solar panels figure into the property tax. The Connecticut Department of Revenue Services offers a state-wide exemption on the amount of property taxes that would increase from installing solar.
Since 2014, the property tax exemption has also applied to commercial and industrial systems.
Sales Tax Exemption For Solar Installations
This is a sales and use tax exemption for solar energy equipment, enacted since 2007. Nice and simple, this means that your solar panel installer does not charge sales tax for the equipment nor for the labor of installing it. Connecticut's sales tax rate is normally 6.35%, so this shaves a few more dollars off the cost of going solar - but every bit helps!
Residential Renewable Energy Solutions
Originally, the Connecticut Green Bank offered the Residential Solar Investment Program (RSIP). Connecticut PURA launched a new incentive program, Residential Renewable Energy Solutions (RRES). This successor program works in a similar matter, improving the rate at which you are compensated for your extra solar power production.
Connecticut PURA made this helpful video to explain how this program works. There is also an FAQ to cover the questions residents may have about the transition between RSIP and RRES.
Find Out How Much Connecticut Residents Can Save Going Solar
Here at EcoGen America, we are dedicated both to saving Connecticut residents money, and to building a greener, more sustainable world of the future.
Contact our solar experts today to find out which solar incentives you qualify for in Connecticut!
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If you're a homeowner in Connecticut who is considering solar panel installation, you're in luck! Like many states, Connecticut has incentive plans to make the cost of installing solar panels more affordable. These include Federal Solar Investment Tax Credits, property tax exemptions, sales tax exemptions for solar installations, and Residential Renewable Energy Solutions. To find out exactly how these incentives can help you get solar for little to nothing down, talk to our local solar advisors for a free installation quote.
According to Electricity Local, Connecticut residents pay the 4th-highest rate in the US for electricity, at 17.34¢/kWh. So any savings from installing solar panels is sure to add up fast. In addition, solar installation incentives make the switch to solar that much more affordable.