2024 Solar Incentives Guide for Bear, DE - Tax Credits & Rebates

In this guide, we'll cover the latest solar incentives and rebates available in Bear.

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.
Get a free quote from one of our trusted Bear solar installers to see how much you can save.

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

What Solar Tax Credits, Incentives, and Rebates are Available in Bear?

Delmarva Power - Green Energy Program Incentives

Incentive Type:
Rebate Program
Solar PV
Residential: $0.70/W
Residenital Leased/PPA systems: Not eligible
Non-Residential (systems less than 6 kW): $0.50/W
Non-Residential (systems 6 kW or larger): $0.70/W
Non-Profit: $1.40/W

Wind
Residential: $0.85/W for first 5 kW, $0.25/W up to 50 kW
Non-Residential: $0.85/W for first 5 kW, $0.25/W up to 50 kW
Non-Profit: $1.75/W for first 5 kW, $1.00/W up to 50 kW

Solar Water Heating (SWH)
Residential: $1/kWh saved
Non-Residential: $1/kWh saved
Non-Profit: $2/kWh saved

GeoThermal Heat Pumps
Residential: $800/ton (first 2 tons), $700/ton (over 2 tons)
Non-Residential: $800/ton (first 2 tons), $700/ton (over 2 tons)
Non-Profit: $1,000/ton (first 2 tons), $800/ton (over 2 tons)

Sustainable Electric Utility (SEU)- SREC Purchase Program

Incentive Type:
Solar Renewable Energy Credit Program
Upfront payment of $450/kW in exchange for the first 20 years of SRECs created by a solar system

SREC Procurement Program

Incentive Type:
Solar Renewable Energy Credit Program
Market bid price for the first 10 years, $35 for the next 10 years.

Solar Renewable Energy Credits (SRECs) Spot Market Program

Incentive Type:
Solar Renewable Energy Credit Program
Varies based on market conditions; as of October 2014 the SRECs were trading at approximately $55 per MWh in SREC marketplace.

Federal Residential Renewable Energy Tax Credit

Incentive Type:
Personal Tax Credit
30% federal tax credit for systems placed in service after 12/31/2021 and before 01/01/2033. Good for: solar water heat, solar photovoltaics, biomass, geothermal heat pumps, wind (small), fuel cells using renewable fuels.

Source: https://www.dsireusa.org/


The phrase "solar incentives" refers to financial incentives that are in place to encourage increased use of renewable energy by making the installation and use of solar panels more affordable. Incentives can include things like discounts, cash back or credit on your utility bill each month. Some incentives are provided by the federal government, while others are provided by the state of Delaware or your specific utility company, county or municipality. Some solar incentives you might qualify for are:

  • Tax Exemptions: Your solar system may qualify for both sales tax and property tax exemptions. Sales tax exemptions come into effect at the time of purchase. Property tax exemptions allow you to exclude the value added by your solar panels when you are calculating property taxes on your house.
  • Rebates: Solar rebates can be offered by your local utility company, or by your state or county. These rebates work as cash back that is applied after your purchase of a solar system and before tax credits are calculated.
  • Net Metering: Net metering becomes relevant after your solar system is up and running. If you have a net metering agreement with your Bear utility company, it will subtract the value of the excess energy your solar system produces from your utility bill each month. In some areas, this is a dollar-for-dollar credit, while in other places you might make back a percentage of the value.
  • Tax Credits: These credits are dollar-for-dollar reductions (not deductions) in how much income tax you owe the government.
  • Solar Renewable Energy Certificate (SREC): SRECs are credits that can be sold to your utility company (or other buyers) for cash that is generally considered part of your taxable income. Typically, you must meet a certain (small) threshold of energy production before your solar system is eligible for SRECs or similar performance-based incentives. These kinds of incentives are generally handled by your state government.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Solar Veteran

Trinity Solar

★★★★★
4.0

  • Many financing options
  • Family-owned and -operated
  • Makes charitable contributions
  • Limited service area
  • Relatively short workmanship warranty

Best Technology

Tesla Energy

★★★★★
3.2

  • 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

When thinking about solar incentives, you likely think of federal incentives first. It's likely that you've heard of the Federal Solar Investment Tax Credit, or ITC. This incentive is a tax credit equal to a specified percentage of the money you spend installing solar panels.

The ITC can be applied to solar panels installed after January 1, 2006, on a primary or secondary residence in the United States that you own. The credit initially covered 30% of the total cost – for panels, equipment, accessories and labor – although that amount may range from 26-30%, depending on the installation date of your solar system. There is no cap on the amount you can claim.

Your local Bear solar panel installer can provide you with more information about the ITC and how it might apply to your situation.

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. For solar system installations that begin after January 1, 2022, and are completed by the end of 2032, homeowners can receive a credit equal to 30% of the total cost. The percentage will then decrease annually until the Clean Energy Credit expires in 2035. The program 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 Bear solar panel installers are the best people to answer your questions about the new Clean Energy Credit and how it applies to you.

State & Local Solar Incentives

Some solar incentives may be provided at the state and local level. Like with federal incentives, these might include rebates, tax credits and more. Some incentives are ongoing, while others may only be available for a limited time. They might be given by your county or municipality, or by the Delaware government.

Next Steps for Installing Solar in Bear

Solar incentives might be offered by your local utility company, the Delaware government or the federal government. The variety of available incentives has facilitated the nationwide growth of solar energy use in the last 15 years. When you're ready to make the switch to solar energy, talking to your local Bear solar panel installation expert is an excellent place to start.

EcoWatch's Bear, DE Solar Incentives FAQs

If I installed solar panels on my house a few years ago, can I still claim incentives?

If your solar panels were installed after January 1, 2022, you may qualify for the newly increased 30% tax credit under the Inflation Reduction Act. If you had your system installed between 2006 and 2021, you may qualify for a tax credit between 26% and 30%, depending on the exact installation date. Speaking with the company that installed your system, or any local Bear solar installer, can help you learn what incentives you might want to apply for.

How much will solar panels save me on my electric bill in Bear annually?

On average, Bear homeowners who install solar panels save about $790.29 per year, or around $15,015.47 over 20 years after they make the switch.

What are some environmental benefits of installing solar panels on my house?

Solar energy is renewable — by changing where you get your energy, you can help reduce the strain on our planet's resources. You can also lower your home's CO2 emissions by 300 pounds annually, or around 6,000 pounds over 20 years.

Can I apply for incentives both towards the initial cost of solar panels, and later as reimbursement?

The order that incentives will be applied in may vary depending on which incentives you are claiming but typically yes, you can claim multiple types of incentives for your solar project. Check with your solar installer or a local tax professional to be sure you are claiming all the incentives you qualify for and applying them in the correct order.

What if I add solar panels to a vacation home, rental property or commercial property? Do I still qualify for incentives?

Many solar incentives apply to a property you own that is located within the United States, and most secondary residences will fall under this distinction. There may be other solar incentives available for commercial properties, depending on the specifics. We recommend reaching out to your local solar installer and/or tax professional to best understand what incentives may apply to your specific situation.

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.

Follow us