How to Get Free Solar Panels From The Government 2023
As a homeowner living in 2023, you might be wondering how to find a fairly-priced way to upgrade your home with solar panels. While renewable energy is the way of the future, the costs of installation can be intimidating to some, costing the average homeowner about $16,000 to $35,000. Many are searching for ways to save money on going solar, which is why some are turning toward incentives and credits from the U.S. government, which has a vested interest in providing affordable clean energy in an effort to mitigate climate change.
Where to Find Discounts on The Best Solar Panels
If you want government aid in solar energy, the best place to start is with your local government and state initiatives. You’ll find that some states and cities are offering incentives such as grants, loans, and tax refunds or rebates. Homeowners can also find solar programs that are subsidized or backed by the federal government. Here, we’ll be going over how you can get started on that kind of affordable paneling.
Location is Everything
Locality will be important in finding ways to save money on solar panel installation. A web engine search will guide you toward some local benefits that are available in your area. This process should include specified keywords that will enter into your search engine, like ‘Solar Incentives in New Jersey’ or ‘The Cost of Solar in Florida’.
New York currently offers some of the most well-known incentive programs when it comes to renewable energy installation, with the NY-Sun Megawatt Block program allowing residents to claim dollars-per-watt rebates for home and business owners in New York.
You should also consider visiting the official government website for your local state or city because these sites often act as easy resources to find solar energy affordability. The U.S. Department of Energy (known as DOE) provides access to a funding application for solar power, for example.
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Federal Solar Tax Credit 2023
The next step would be to research the tax refunds or rebates that are being offered in your state or by the federal government. The Federal Solar Tax Credit has been extended to 2032, so homeowners can still claim a 30% Tax credit on a solar panel and battery installation when filing for federal taxes. You may hear it referred to as The Clean Energy Tax Credit or the Solar Investment Tax Credit (ITC). All of these terms refer to the 26%–30% credit you can claim on your tax return for the costs of your solar panels, solar batteries, as well as some labor and installation costs using IRS Form 5695 for the relevant tax year.
What is PPA Power Purchase Agreement?
A Power Purchase Agreement or “PPA” is a contract directly between you and a state-licensed solar energy company. In a PPA, the company agrees to install solar panels on your roof and deliver you the electricity the Solar Installation System generates at a set price. If you aren't in a position or don't want to purchase the entire Solar Energy System up front, this can be a great solution. Even if you arent buying the system, you are almost certain to save money on your electricity costs. This is an increasingly attractive option to Americans searching for Solar Energy to lower their electric bills.
How Much Do Solar Panels Cost?
Its important to understand all of the information before deciding on Solar Program or Incentives. Some solar programs and incentives can come with eligibility requirements like income, the time of purchase, location, and so on. Reading through the selection process will also help give you an idea of how much you’ll be paying for solar panel installation. The low end can be around $5,000, depending on the incentives that you pursue. You should also feel encouraged to comb through educational resources like what’s available at EcoGenAmerica, with this blog covering the cost of solar by state.
Solar Panel Incentives by State
There is a fantastic resource by the Solar Energy Industry Association (SEIA) that allows you to explore state-by-state solar data, updates, and other resources. Some states have exemptions on Property Tax gains from the addition of Solar Panels. Currently, this exemption from property taxes is available in 36 states. Therefore, you can benefit from selling your property for more money without having to pay the additional taxes associated with the increased home value. The cost of your solar panels may be free from Sales Tax in some states. There are 25 states that exempt solar installation purchases from sales taxes. The sale of solar panels, batteries, storage units, and installation supplies is exempt from this rule.
Saving Your Most Valuable Resource, Time!
This can all be a lot of research and note-taking to ensure you have a good grasp of your state's Solar Programs and Incentives. After all, new legislation and updates are happening every day. If you are someone who enjoys information "boiled down to the basics" and personalized for your situation, set up a phone call with one of our Solar Experts to answer your questions and personalize your solar buying journey.
Book call with a local solar expert now
If you want government aid in solar energy, the best place to start is with your local government and state initiatives. You’ll find that some states and cities are offering incentives such as grants, loans, and tax refunds or rebates. Homeowners can also find solar programs that are subsidized or backed by the federal government. Here, we’ll be going over how you can get started on that kind of affordable paneling.
Its important to understand all of the information before deciding on Solar Program or Incentives. Some solar programs and incentives can come with eligibility requirements like income, the time of purchase, location, and so on. Reading through the selection process will also help give you an idea of how much you’ll be paying for solar panel installation. The low end can be around $5,000, depending on the incentives that you pursue. You should also feel encouraged to comb through educational resources like what’s available at EcoGenAmerica, with this blog covering the cost of solar by state.
