Are you considering installing a solar energy system for your home or business, but unsure of how to afford it? The US government offers a range of solar incentives to help reduce the cost of solar energy systems and make them more accessible to homeowners and businesses. In this article, we will explore the top solar incentives available from the US government and how you can take advantage of them to maximize your savings.
- Federal tax credits: The federal government offers a tax credit for homeowners and businesses who install solar energy systems. The credit is equal to 26% of the cost of the system, including installation and equipment. This credit is available through the end of 2021 and is set to expire in 2022. It is important to note that this credit is only available for systems installed on your primary residence or business and cannot be used for systems installed on rental properties.
- State and local incentives: Many states and local governments offer additional incentives for solar energy systems, including tax credits, grants, and rebates. These incentives can vary by location and may be offered by the state, local utilities, or other organizations. It is important to check with your state and local governments to see what incentives are available in your area.
- Net metering: Net metering is a policy that allows homeowners and businesses with solar energy systems to sell excess energy back to the grid. This can be a valuable incentive for those who generate more energy than they use, as it allows them to offset their energy costs and potentially earn a profit. Net metering policies vary by state, so it is important to check with your local utility to see what options are available in your area.
- Solar Renewable Energy Credits (SRECs): SRECs are credits earned by homeowners and businesses who generate renewable energy, including solar energy. These credits can be sold to utilities or other organizations to offset their energy use and meet renewable energy goals. SRECs can be a valuable incentive for those who generate a significant amount of renewable energy and can help offset the cost of a solar energy system.
In conclusion, the US government offers a range of incentives to help reduce the cost of solar energy systems and make them more accessible to homeowners and businesses. These incentives can include federal tax credits, state and local incentives, net metering, and SRECs. It is important to explore all of the available incentives to maximize your savings and make your solar energy system more affordable. At BRI Energy, we can help you explore your solar financing options and take advantage of all available incentives. As a one-stop shop service provider, we offer a range of services, including system integration and financing options. Contact us today at contact@bri-us.com to learn more about how we can help you maximize your savings with solar incentives.
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