Summary
- Federal Solar Investment Tax Credit (ITC)
- State and Local Incentives
- Utility Company Rebates and Incentives
Federal Solar Investment Tax Credit (ITC)
The Federal Solar Investment Tax Credit (ITC) provides a tax credit of up to 26% for homeowners who install solar energy systems on their properties. This incentive is set to decrease in the coming years, so homeowners should take advantage of it while it's still available.
State and Local Incentives
Many states and local governments offer additional incentives for homeowners to install solar power systems, such as rebates, grants, and low-interest loans. These incentives vary by location, so homeowners should research what is available in their area.
Utility Company Rebates and Incentives
Some utility companies offer rebates and incentives for homeowners who install solar panels. These can include cash rebates, net metering programs, and performance-based incentives. Homeowners should check with their utility company to see what programs are available to them.