Benefits of Solar Power: The Government Incentives You Need To Know
March 16, 2023
Most homeowners trying to figure out how to switch to solar power have heard it comes with some appetizing incentives. Unfortunately, there’s a lot of misinformation out there about the subject.
Not to worry — that’s where Freedom Solar comes in.
In our last piece, Going Solar: The Smart Choice for Your Home and Wallet, we introduced some of the benefits homeowners see when they switch to solar. Chief among them are the big-picture savings, of course.
But many of you may still ask yourself, “Should I switch to solar energy?” If you have doubts, we’ve got good news for you! We’ve shown you only the tip of the iceberg regarding the many benefits that come with switching to solar power.
Let’s dive into it:
- All the solar incentives available to you from your city or state
- The federal government solar incentives you’ll really appreciate around tax season
- How solar can power your life and home
Welcoming Solar Energy Into Your Home
Let’s start with the practical usage opportunities that a switch to solar can provide.
First, you don’t have to have extreme or niche energy needs to get value out of a switch to solar, like a detached dwelling unit or an electric vehicle (EV). Of course, being able to charge your EV at home is a helpful solar incentive in itself.
Solar energy can support all the everyday electronics that make up your lifestyle. These include home entertainment systems, appliances, wearables and your totally tricked-out work-from-home setup.
Once you switch to a home solar panel system, you can truly appreciate using everything that the energy sources you currently rely on power.
[Related: Solar Panel Maintenance & Repair Services]
Incentives — Everyone’s Favorite Word
The tax incentives for solar have always been appealing to homeowners. But as solar power becomes more popular, these incentives have grown in value. On average, taxpayers who go solar receive almost one-third of their system’s cost back through their tax return.
For those of you who don’t speak solar, allow us to translate: cha-ching. Let’s make sense of the government incentives for solar power, starting at the federal level.
Federal Solar Incentives
Is there a federal government solar incentive already in place? Most definitely.
In fact, the government continues to prioritize federal solar incentives as green and sustainable energy sources stay atop the climate change conversation. The government is extending the Federal Solar Tax Credit, an opportunity for owners to subsidize their systems’ purchase and installation costs, past its previous 2023 end date via the Inflation Reduction Act.
If we had to guess, federal government solar incentives are likely to continue increasing as more homeowners see the benefits of switching to solar. Our guide to federal government solar panel incentives goes even deeper. In it, we get into how the government encourages homeowners to opt in on energy independence.
State Solar Incentives
The state you live in plays a major role in the incentives you can receive from making the switch to solar.
Some states offer tax exemptions to help homeowners save on a system’s purchase costs. Meanwhile, other states protect owners from paying increased property taxes to reflect the value that solar panels add to homes.
Certain states make this information clear and readily available, like the ones in our state-by-state guide. However, homeowners in other states may have to do some independent research — with Freedom Solar’s support — to determine what solar tax incentives they can receive.
Most homeowners don’t believe in leaving a single dollar on the table. They want to make sure they can capitalize on every incentive they can get for their solar commitment. Plus, many cities offer incentives in the form of a rebate, some of which reportedly go as high as $2,500.
We know it’s a lot to unpack. But the Freedom Solar Power team will happily work with you to understand the best incentives in the markets we operate in. Trust us — we love a bargain just as much as the next person.
Learn More With Freedom Solar
One day, you’ll look back on your decision to switch to solar power. Then, the investment will reveal itself as the best you’ve ever made as a homeowner.
You have an array of available solar incentives. And here at Freedom Solar Power, we’re every bit as committed to locking them in for you on your switch-to-solar journey. In our next piece, Solar Savvy: Choosing the Right Panels and Determining the True Cost, we’ll get into the differences between individual types of solar panels and which ones give you the most long-term bang for your buck.
And if we’ve piqued your curiosity and you’re looking for a deep dive on how to switch to solar, click below to download our handy project planner. In the meantime, give us a call at (800) 504-2337 or fill out our inquiry form for a free consultation.
See you on the bright side!
Download our Solar Planner e-book.
Featured image via Pexels
