2024 Solar Incentives Guide for Helena-West Helena, AR - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Helena-West Helena.
You'll learn about:
- Local & State Solar Incentives
- Federal Tax Credits (Updated for 2024 and beyond)
- Ways to optimize your solar investment
Solar installers are experts in maximizing your solar tax credits and rebates.
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What Solar Tax Credits, Incentives, and Rebates are Available in Helena-West Helena?
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
Solar incentives are meant to help mitigate the cost of installing solar panels on your home. Financial incentives like these are designed to encourage more Americans to convert their home partially or fully to renewable energy. The incentives might include upfront discounts, cash back or credit towards your monthly utility bill. Some incentives are handled by the federal government, some by the Arkansas government and some by your utility company, county or municipality. Some solar incentives you might qualify for are:
- Tax Exemptions: These may come in the form of property tax exemptions, which allow you to exclude the value added by your solar panels when calculating the taxes you pay on your house. You could also look for exemptions on sales tax at the time of purchase.
- Rebates: A solar rebate is a partial refund given after you've purchased your solar system. These might be offered by your local utility company, your state or your county. The cash back that you get from the rebates is normally applied before calculating tax credits.
- Tax Credits: Tax credits are dollar-for-dollar reductions (not deductions) in the amount of tax that you owe the federal government.
- Net Metering: You can sign a net metering agreement with your Helena-West Helena utility company that will apply to all or a percentage of the excess electricity your solar panels generate. Your utility company will then subtract this value from your monthly utility bill.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
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- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 solar incentives are probably the first thing that comes to mind when thinking about solar incentives. One of the incentives that most people are probably familiar with is the Federal Solar Investment Tax Credit (ITC). The ITC is a tax credit for a predetermined percentage of the cost of your solar system.
The ITC originally covered 30% of the total cost of installing a solar system, and has fluctuated slightly over the last few years between 26-30%. The percentage you qualify for will depend on when your solar system was installed. The total installation cost includes the panels themselves as well as the cost of accessories, labor and equipment. There is no maximum amount you can claim. The ITC can be applied to solar systems installed after January 1, 2006, on your primary or secondary residence. The residence must be in the United States and owned by you.
To better understand how the ITC could apply to you, call your local Helena-West Helena solar panel installation expert and request more information.
The ITC was renewed and increased in scope after the passage of the Inflation Reduction Act in August 2022. It's also now called the Clean Energy Credit. The Clean Energy Credit lasts until 2035. Any solar installation project that is completed between January 1, 2022, and December 31, 2032, may qualify for a 30% tax credit. The amount will be decreased slightly on a yearly basis until the end of the current program. The expansion also makes it easier to get credit for energy storage systems, starting in 2023.
More information about the new Inflation Reduction Act can be found here. Your local Helena-West Helena solar panel company is the best resource for answering your questions regarding the new Clean Energy Credit and how it may apply to you.
State & Local Solar Incentives
Some solar incentives are often also offered at the local or state level. Like with federal incentives, these can include rebates, tax credits and more. Some incentives are offered for only a limited time, while others are ongoing. Your local solar incentives could come from the Arkansas government, or from your specific county or municipality.
Next Steps for Installing Solar in Helena-West Helena
The nationwide use of solar energy has increased enormously in the past 15 years, in part due to the growth in the number of solar incentives. You may get these incentives from the Arkansas government, the federal government or your local utility company. Your local Helena-West Helena solar panel installer can help you learn more about which incentives you can apply for, and get you started on the path to switching to renewable energy today.
EcoWatch's Helena-West Helena, AR Solar Incentives FAQs
How can I learn if I qualify for different solar incentives?
It's a good idea to talk to your local Helena-West Helena solar installer for a better understanding of which incentives your project may qualify for. Usually, solar incentives apply to new solar panel systems installed on a property you own (in the U.S.) within a specified date range. Some incentives, like those given by the state of Arkansas, might have additional requirements.
What are the top solar panel installation companies near me?
To find the best solar panel installer in your area, check out our guide to Helena-West Helena's top solar panel companies.
What are some environmental benefits of installing solar panels on my house?
Solar energy is a renewable energy source — by changing where you get your energy, you can help lessen the strain on our planet's resources. You can also reduce the CO2 emissions from your home by 350 pounds a year, or around 7,000 pounds over 20 years.
What if I add solar panels to a rental property, vacation home or commercial property? Can I still qualify for incentives?
While we recommend getting in touch with your local solar installer and/or tax professional to fully understand what solar incentives apply to you, many can be claimed on a second home, provided that it is in the United States and owned by you. There may be additional incentives available specifically for commercial properties, depending on the details.
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.