Rebates and IncentivesMaking solar even more affordable
Goverment tax credits and other incentives can go a long way toward reducing the cost of a solar enegry system.
State Tax Credits
Single family residential property is eligible for a credit of 35% of the actual cost or $5,000, whichever is less.
(If all or part of the system is used as a substitute renewable energy technology for the solar water heating requirement for new residential construction, the credit shall be reduced by thirty-five per cent of the actual system cost or $2,250, whichever is less)
Multi-family residential property is eligible for a credit of 35% of the actual cost or $350 per unit, whichever is less.
Commercial property is eligible for a credit of 35% of the actual cost or $500,000, whichever is less. [Read More]
Federal Tax Credits
The following three product categories are eligible for a tax credit of 30% of the cost with no upper limit until December 31, 2018.
* Solar energy systems
* Geothermal heat pumps
* Small wind turbines (residential)
These can be used on new or existing homes, and a principal residence or second home would both qualify (but not rentals). [Read More]