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State and Federal Incentives

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Incentives with Solar

Aside from the solar industry having positive impacts on our environment and greatly contributing to the independence of our nation’s energy use, the solar industry supplies more jobs than the coal, gas, and oil in the United States! To promote the growth of the solar industry state and federal governments offer solar tax breaks to give homeowners incentive for them to use solar. These Tax cuts can reduce the cost of your solar system anywhere from 30 to 50 percent! Source: EnergySage.com

The Different Kinds of Solar Incentives

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Investment Tax Credit

The Investment Tax Credit or ITC allows homeowners to deduct a percentage of their solar costs from their taxes. Homeowners and business qualify for a tax credit worth 30 percent of the cost of their system from the federal government. The Investment Tax Credit program ends in 2022.

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Cash Rebates

Many states also offer cash rebates for those who choose to go solar. Cash Rebates are available for a certain amount of time and usually end once a decided amount of your system has been installed. Cash Rebates can reduce the cost of your system by another 10 to 20 percent!
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State Tax Credit

Many states offer a State Tax Credit which is similar to the Investment Tax Credit in which a homeowner or business can deduct a percentage of the cost of a solar system off their state tax at the end of the year.
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Solar Renewable Energy Certificates

Solar Renewable Energy Certificates or SRECS are a great way to have your solar system make money for you. Some state governments require their local utilities to receive a certain amount of power from solar. If you have solar in one of these states, your system will generate excess power that utilities will purchase so they can record your solar power and meet their state requirements. Selling these certificates can result in hundreds or thousands of dollars annually for you as a homeowner!

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Summit Energy offers a wide range of cost-effective solar energy solutions. We work with homeowners and businesses to help them reduce their energy bills, while also reducing their carbon footprint.

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