Types of Solar Incentives
Understanding What Are Solar Renewable Energy Certificates (SRECs)
Not universally accessible, Solar Renewable Energy Certificates enable you to earn credits for the solar power you generate. Subsequently, you can sell the generated electricity back to the utility company or through a local SREC marketplace.
Explaining What Is Net Metering
Net metering serves as an electricity billing incentive, facilitating the production of your own electricity, either entirely or partially, through renewable sources like solar. Depending on the state’s criteria, you may sell excess energy back to the utility company.
Overview of Property Tax Relief and Exemption
This enticing incentive provides an exemption from property taxes upon the installation of a solar power system. Following the installation, you can apply for a tax exemption to reduce your property taxes.
Insight into What Are Federal Tax Credits for Solar Panels
Another valuable tax incentive comes in the form of credits provided by the government to offset a portion of the installation costs for a solar panel system. Some states may also offer additional solar tax credits.
Understanding What Are Tax Rebates
Tax rebates are a qualified partial refund available from utility companies, local governments, or participating companies. Application for these rebates is possible only after the installation of a solar panel system.
Explaining What Are Low-Interest Solar Loans
Often regarded as one of the most cost-effective methods, low-interest loans provide an affordable way to enter the realm of solar energy. Typically, these loans come with reduced interest rates.
Insight into What Are Performance-Based Incentives (PBIs)
Performance-Based Incentive (PBI) programs reward you with a specified dollar amount for each kilowatt-hour (kWh) of solar energy you generate. However, not all states and utility companies participate in this initiative.
At Simple Flow, our thorough research helps identify the available solar panel incentives in your state. Let’s explore the options that may be accessible to you.