2023 Solar Incentives Guide for Canton, GA - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Canton.
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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Updated May 04, 2023
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What Solar Tax Credits, Incentives, and Rebates are Available in Canton?
Biomass Sales and Use Tax Exemption
Georgia Power - Home Energy Efficiency Improvement Program
Central AC Replacement: $50
Air/Duct Sealing: $300
Attic Insulation: $250
Heat Recovery Water Heater with Heat Pump: $250
Heat Pump Water Heater: $250
Solar Water Heater: $250
Home Energy Assessment: $150
Smart Thermostat: $75
Heat Pump conversion: $250
Multifamily
Central AC Replacement: $25
Air/Duct Sealing: $150
Attic Insulation: $125
Heat Recovery Water Heater with Heat Pump: $250
Heat Pump Water Heater: $250
Solar Water Heater: $250
Home Energy Assessment: $75
Smart Thermostat: $38
Heat Pump conversion: $125
Central Georgia EMC - Residential Energy Efficiency Home Plus Loan Program
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
Solar incentives are designed to mitigate the cost of installing solar panels on your home. These financial incentives are in place to encourage more Americans to convert their home partially or fully to renewable energy. You may qualify for different types of incentives, such as cash back, discounts or credit towards your monthly utility bill, depending on your situation. Some incentives come from your specific utility company, county or municipality, some from the Georgia government and others from the federal government. Categories of solar incentives include:
- Tax Exemptions: Your solar system could qualify for exemptions on both sales and property tax. Sales tax exemptions come into effect at the time of purchase. Property tax exemptions allow you to exclude the value that solar panels add when calculating property taxes on your home.
- Net Metering: You can sign a net metering agreement with your Canton utility company. This agreement 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.
- Rebates: A rebate is a partial refund credited to your account after you've paid for your solar system. These may be offered by your local utility company, your state or your county. The rebates are usually applied before tax credits are calculated.
- Tax Credits: Unlike tax deductions, tax credits are dollar-for-dollar reductions in the amount of income tax that you owe the federal government.
Federal Solar Incentives
When people think of solar incentives, federal incentives are likely the first thing that comes to mind. It's likely that you've heard of the Federal Solar Investment Tax Credit, or ITC. This is a tax credit equal to a specified percentage of the money you spend on solar panels for your home.
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. Initially, the credit applied to 30% of the total cost — for panels, labor, equipment and accessories — 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.
Have questions about how the ITC applies to your specific situation? Get in touch with your local Canton solar panel installer to get more information.
In August 2022, the ITC (now called the Clean Energy Credit) was expanded and extended by the passage of the Inflation Reduction Act. The new Clean Energy Credit extends until 2035. American homeowners can now apply for a 30% credit for solar systems that began installation after January 1, 2022 and are completed by the end of 2032. This credit will then decrease annually until its expiration. The program expansion also makes claiming credit for energy storage systems easier than ever before, starting in 2023.
Click here to learn more about the new Inflation Reduction Act. Your local Canton solar panel company can answer your questions and explain how the new Clean Energy Credit will apply to you.
State & Local Solar Incentives
There are often state solar incentives available in addition to federal ones. Tax credits, rebates and more may be available at a more local level. Some incentives are ongoing, while others are offered for only a limited time. Your local solar incentives may come from the Georgia government, or from your specific county or municipality.
Next Steps for Installing Solar in Canton
The large number of available solar incentives has enormously increased the nationwide adoption of solar energy over the past 15 years. You may receive solar incentives from your local utility company, the federal government or the Georgia government. Call your local solar panel installer today to learn more and to save the most money possible on a solar system for your Canton home.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Canton, GA Solar Incentives FAQs
How do I learn if I qualify for certain solar incentives?
In most cases, solar incentives apply to:
- a new solar system
- installed on property that you own
- within the U.S.
- between the dates specified by a particular incentive.
Specific incentives, including ones handled by the Georgia government or by your county/municipality, might have additional qualifications. Speak with your local Canton solar installer to learn more about what incentives your project may qualify for.
If I already have solar panels, can I still claim incentives?
If your solar panels were 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 date of installation. Speaking with a representative from the company that installed your solar system, or any local Canton 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 add solar panels to my house in Canton?
Once you add solar panels to your home in Canton, you can anticipate savings of about $982.45 per year, or about $18,666.60 over the next 20 years.
Who installs solar panel systems near me?
To find the right solar panel installer for you, check out our guide to Canton's best solar panel companies.
When does the federal solar tax credit end?
The federal solar tax credit, formerly known as the ITC and now called 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.
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.