The Complete Guide to Mississippi Solar Incentives

What Are Mississippi Solar Incentives?

Solar incentives in Mississippi are government programs, policies, or financial incentives aimed at encouraging the adoption of solar energy systems. These incentives are designed to make solar installations more accessible and affordable for homeowners and businesses alike. They can include tax credits, rebates, grants, and net metering programs. Some solar programs in Mississippi may even offer opportunities for free solar panel installations.

Discover more about these incentives and how they can help you reduce upfront costs and maximize the financial benefits of going solar in Mississippi.

Federal Solar Investment Tax Credit (ITC)

The Federal Solar Investment Tax Credit (ITC), also known as the Green Energy Tax Credit, is a financial incentive available to Mississippi homeowners and businesses who install solar energy systems. The ITC allows eligible individuals or entities to claim a tax credit of 30% of the total cost of their solar installation, including equipment and installation expenses. This credit directly reduces the federal income taxes owed, resulting in significant savings.

It's important to note that the ITC is currently set at 30% through the end of 2032, after which it will gradually phase down. Taking advantage of this incentive can make solar energy more affordable and financially beneficial for Mississippi residents and businesses.

Solar Net Energy Metering (NEM)

In Mississippi, solar net metering allows solar system owners to receive credits for the excess electricity they produce. When their solar panels generate more power than they need, the surplus energy is sent back to the grid, and the owner receives credits on their electricity bill. These credits can be used to offset future energy costs when their solar panels don't produce enough, like at night.

By participating in net metering, solar owners can save money on their energy bills and potentially even earn extra income by selling their excess energy back to the utility company. It's a way to make the most of their solar investment, reduce reliance on the grid, and contribute to a cleaner, more sustainable energy future.

Mississippi Solar Rebates

Mississippi offers a solar rebate program for residential solar installations ranging from 3 kW to 20 kW. The program provides a rebate of $3,500 to qualifying solar system owners. However, it's important to note that the program is currently under development, and specific details and rules are still being finalized. Stay tuned for updates and more information as the rebate program becomes available later in the year.