2023 Solar Incentives Guide for Atmore, AL - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Atmore.
You'll learn about:
- Local & State Solar Incentives
- Federal Tax Credits (Updated for 2023 and beyond)
- Ways to optimize your solar investment
Solar installers are experts in maximizing your solar tax credits and rebates.
Get a free quote from one of our trusted Atmore solar installers to see how much you can save.
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
What Solar Tax Credits, Incentives, and Rebates are Available in Atmore?
Local Option- Property Tax Exemption for Renewable Energy Faclities
Alabama Power - Residential Heat Pump Loan Program
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
Solar incentives are designed to mitigate the cost of installing a solar panel system on your home. These financial incentives are intended to encourage more homeowners to make the switch to renewable energy. Different kinds of incentives, such as cash back, discounts or monthly utility bill credits, might be available to you. Some incentives may be provided via the Alabama government, by your utility company or by county or municipality, while others are federal. You might qualify for any of the following types of solar incentives:
- Tax Exemptions: Sales tax exemptions go into effect at the time of purchase for your solar system. Property tax exemptions allow you to exclude the value added by your solar system when calculating how much property tax you need to pay.
- Rebates: Rebates, or cash back after a purchase, are normally applied prior to any solar tax credits being calculated. Rebates may be offered by your local utility company, by your county or by your state.
- Net Metering: You may be able to sign a net metering contract with your Atmore utility company, that may apply to all or a percentage of the excess electricity that is generated by your solar panels. They will then deduct this value from your monthly utility bill.
- Tax Credits: Tax credits lower, dollar-for-dollar, how much income tax you owe the government. Tax credits differ from tax deductions.
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
Federal Solar Incentives
Federal incentives are the type of incentives that you are most likely to have heard of. The Federal Solar Investment Tax Credit, or ITC, is the best-known federal solar incentive. The ITC provides a tax credit for a predetermined percentage of your solar system's cost.
The ITC applies to solar panels installed after January 1, 2006 on a primary or secondary residence that you own in the United States. Originally, the tax credit was for 30% of the total cost — for panels, accessories, labor and equipment — although it may range from 26-30%, depending on the installation date of your solar system. There is no cap on the claim amount.
To better understand how the ITC may apply to your situation, speak to your local Atmore solar panel installer and ask for more information.
The ITC was both renewed and expanded by the passage of the Inflation Reduction Act in August 2022. It's also now called the Clean Energy Credit. The Clean Energy Credit bolsters the current credit, increasing it up to 30% for solar systems installed between 2022 and 2032. After this, the percentage will be reduced slightly each year until the end of the program in 2035. The expansion to the program also makes claiming credit for energy storage systems easier than ever before, beginning in 2023.
More information about the new Inflation Reduction Act can be found here. The best way to learn more about how the new Clean Energy Credit might apply to you is to get in touch with your local Atmore solar panel installation expert.
State & Local Solar Incentives
There are often state solar incentives available in addition to federal ones. Tax credits, rebates and more might be available at a more local level. These incentives may be handled by your county or municipality, or by the Alabama government. Certain incentives are ongoing, while others are available for a limited time.
Next Steps for Installing Solar in Atmore
Solar incentives can be offered by your local utility company, the federal government or the Alabama government. The large number of solar incentives available has helped nationwide use of solar energy increase greatly in the last 15 years. Getting in touch with your local Atmore solar panel installation expert is the right first step towards getting the most money possible when you switch to solar energy.
EcoWatch's Atmore, AL Solar Incentives FAQs
How can I find out if I qualify for different solar incentives?
It's a smart idea to get in touch with your local Atmore solar installer for a better understanding of which incentives your project will qualify for. Usually, solar incentives apply to new solar systems installed on a property you own (in the U.S.) between the dates specified by the incentive. Some incentives, such as those offered by the government of Alabama, may have additional requirements.
I already have solar panels installed. Are there any incentives that I qualify for?
If your solar system was installed after January 1, 2022, you may qualify for the recently increased 30% tax credit under the Inflation Reduction Act. If your system was installed between 2006 and 2021, you may qualify for a tax credit between 26% and 30%, depending on the year it was installed. Talking to the company that installed your solar system, or any local Atmore solar installer, can help you learn more about what incentives you qualify for.
How much can I save on my electric bill annually if I install solar panels on my Atmore home?
When you add solar panels to your Atmore home, you can expect to save approximately $1,090.31 per year, or approximately $20,715.87 over 20 years.
Who installs solar panels near me?
To find the best solar panel installer in your area, check out our guide to the best solar companies in Atmore.
If I switch my appliances out for ones that use solar energy, are there any credits that I can claim?
Under the new Inflation Reduction Act, there are a variety of new financial incentives that are available when you make eco-friendly improvements to your home. More details on these incentives, including information about incentives for purchasing new appliances, can be found here.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Solar incentive research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.