2023 Solar Incentives Guide for Rogers, AR - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Rogers.
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.
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By EcoWatch Local Advisors
Data Analysis: James Savino
Ranking Methodology: Karsten Neumeister
Updated March 14, 2023
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What Solar Tax Credits, Incentives, and Rebates are Available in Rogers?
Federal Residential Renewable Energy Tax Credit
Solar incentives help mitigate the cost of installing a solar panel system on your home. This category of financial incentives is in place to encourage more Americans to make the switch to renewable energy. Different types of incentives, including discounts, cash back or monthly utility bill credits, may be available to you. Certain incentives may be provided via the Arkansas government, by your utility company or by county or municipality, while other incentives are federal. Some broad categories of solar incentives include:
- Rebates: Rebates, or partial refunds after a purchase, are typically applied before any solar tax credits are calculated. Solar rebates might be provided by your local utility company, by your county or by your state.
- Net Metering: Net metering is an incentive you can get once your solar system is up and running. If you have a net metering agreement with your Rogers utility company, the company will subtract the value of the excess energy your solar system produces from your monthly utility bill. In some locations, this credit is dollar-for-dollar, while in others you may get refunded a percentage of the value.
- Tax Exemptions: Tax exemptions can come in one of two forms. First, there is sales tax exemption, which is applied at the time you purchase your solar panels. The second is property tax exemption, which allows you to exclude the value added by your solar system when calculating property tax for your home.
- Tax Credits: These credits are dollar-for-dollar reductions (not deductions) in how much in taxes you owe the federal government.
Federal Solar Incentives
Federal solar incentives are probably the first thing that you think of when thinking about solar incentives. The solar incentive that you're most likely to have heard of is the Federal Solar Investment Tax Credit (ITC), which provides a credit on your taxes equal to a percentage of the cost of your solar system.
The ITC can be applied to solar systems installed after January 1, 2006 on a primary or secondary residence that you own in the United States. The credit initially covered 30% of the total cost — for panels, accessories, labor and equipment — although it may range from 26-30%, depending on when your solar system was installed. There is no cap on the claim amount.
To better understand how the ITC may apply to you, get in touch with your local Rogers solar panel installer and ask for more information.
The ITC has been renewed and expanded following the passage of the Inflation Reduction Act in August 2022. It's also now called the Clean Energy Credit. The Clean Energy Credit runs until 2035. Any solar installation project that is completed between January 1, 2022 and December 31, 2032 may qualify for a 30% tax credit. This amount will be decreased slightly on a yearly basis until the current program ends. Starting in 2023, the program expansion will also make it easier to get credit for energy storage systems.
More information about the new Inflation Reduction Act can be found here. Your local Rogers solar panel installation experts can answer your questions and explain how the new Clean Energy Credit may apply to you.
State & Local Solar Incentives
There are often state solar incentives available in addition to federal ones. Rebates, tax credits and more may be available at a more local level. These incentives may be distributed by your county or municipality, or by the Arkansas government. Some are available for a limited time, while others are ongoing.
Next Steps for Installing Solar in Rogers
The variety of available solar incentives has enormously increased the use of solar power nationwide over the last 15 years. You may receive solar incentives from the Arkansas government, the federal government or your local utility company. Contact your local solar panel installation company today to discover more about the various programs and to save as much money as possible on solar panels for your Rogers home.
- 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
Best Warranty Coverage
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Rogers, AR Solar Incentives FAQs
Can I receive any incentives when I add solar panels to a vacation home, rental property or commercial property?
While we recommend getting in touch with your local solar installer and/or tax professional to best understand what solar incentives apply to you, many apply to a second home, provided that it is in the United States and owned by you. There may be other incentives available for commercial properties specifically, depending on the details.
How much can I save annually on my electric bill if I install solar panels on my house in Rogers?
Once you add solar panels to your Rogers home, you can anticipate savings of approximately $846.17 per year, or approximately $16,077.19 over 20 years.
What are the highest-rated solar panel installation companies near me?
To find the right solar panel installer for you, check out our guide to Rogers' best solar panel companies.
When does the federal solar tax credit end?
The federal solar tax credit, formerly known as the ITC and now named the Clean Energy Credit, is set to end January 1, 2035. The current 30% credit will end in 2032, replaced by a 26% credit in 2033 and a 22% credit in 2034.
Can I apply for incentives both towards the up-front cost of solar panels, and later as reimbursement?
Yes, you can claim both tax credits and rebates towards the cost of your solar panels. Depending on which incentives you are eligible for, they may apply in a different order. Be sure to talk to your solar installer or a local tax professional to verify that you are claiming incentives correctly and that you're getting the most money possible.
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.