2023 Solar Incentives Guide for Chatsworth, GA - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Chatsworth.
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 March 14, 2023
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What Solar Tax Credits, Incentives, and Rebates are Available in Chatsworth?
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/
The term "solar incentives" generally refers to financial incentives put in place by solar companies and the government to encourage increased use of renewable energy by making solar panels more affordable. Incentives can include things like discounts, cash back or monthly utility bill credits. Some incentives are offered by the federal government, while others are offered by the Georgia government or by your specific utility company, county or municipality. You might qualify for any of the following types of solar incentives:
- Rebates: Some solar companies will help you claim a rebate, or partial refund of your purchase, for your solar system. Counties or states will also sometimes offer limited-time rebates. If you receive a rebate, that amount will usually be deducted from your total price before any tax credits are calculated.
- Tax Credits: Tax credits are dollar-for-dollar reductions (not deductions) in how much in taxes you owe the government.
- Net Metering: You can sign a net metering agreement with your Chatsworth utility company that will 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 Exemptions: Sales tax exemptions are applied at the time of purchase for your solar panels. Property tax exemptions allow you to ignore the added value of your solar system when calculating the amount of property tax you need to pay.
Federal Solar Incentives
When thinking about solar incentives, federal incentives may be the first thing that comes to mind. The solar incentive that you may be most familiar with is the Federal Solar Investment Tax Credit (ITC), which gives you a credit on your taxes equal to a percentage of your solar system's cost.
The ITC covers solar systems installed after January 1, 2006 and allows you to deduct from your taxes a percentage of the total cost of solar panels, labor, accessories and equipment. This credit can apply towards a solar panel system installed on a primary or secondary residence in the United States that you own. The original claim amount was 30% of the total cost, although certain projects may qualify for only 26%, depending on the details. There is no maximum amount you can claim.
Contacting your local Chatsworth solar panel installation expert is the best way to learn more about how the ITC applies to your situation.
In August 2022, the Inflation Reduction Act expanded and extended the ITC, now dubbed the Clean Energy Credit. The new Clean Energy Credit now runs until 2035. Homeowners can now receive a 30% credit for solar systems that began installation on or after January 1, 2022 and will be done by December 31, 2032. The total credit will then be decreased by a few percentage points every year until it expires. The expansion to the program also makes it easier to get credit for energy storage systems, beginning in 2023.
More information about the new Inflation Reduction Act can be found here. Your local Chatsworth solar panel installation expert is the best person to answer your questions regarding the new Clean Energy Credit and how it may apply to you.
State & Local Solar Incentives
Tax credits, rebates and more can be provided at multiple levels. In addition to federal solar incentives, there are often state and local ones, too. Incentives may be given by your county or municipality, or by the state of Georgia. Some incentives might only be available for a limited time, while others are ongoing.
Next Steps for Installing Solar in Chatsworth
The nationwide use of solar energy has gone up tremendously in the last 15 years, in part due to the increase in availability of solar incentives. You may get these incentives from your local utility company, the federal government or the Georgia government. Your local Chatsworth solar panel installation company can provide you with more details about which incentives you can apply for, and get you on track to switch to renewable energy today.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Chatsworth, GA Solar Incentives FAQs
How do I know if I qualify for different solar incentives?
It's a good idea to talk to your local Chatsworth solar installer for a better understanding of which incentives your project may qualify for. Generally, solar incentives apply to new solar systems installed on property you own (in the U.S.) within a specified date range. Some incentives, such as those provided by the Georgia government, may have other requirements.
I already have solar panels installed. Do I qualify for any incentives?
If your solar system was 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 year it was installed. Speaking with a representative from the company that installed your system, or any local Chatsworth solar installer, can help you learn what incentives you can apply for.
How much will a solar system save me on my electric bill in Chatsworth annually?
Typically, homeowners in Chatsworth who install solar panels save approximately $946.72 per year, or approximately $17,987.71 over 20 years after making the switch.
I want to trade in my old appliances for ones that are more energy-efficient. Are there any incentives I can apply for?
The recently passed Inflation Reduction Act provides several incentives meant to reward homeowners for making eco-friendly upgrades. Some incentives include tax credits and rebates for installing new electric appliances. You can find more details about these incentives here.
Can I use a combination of solar and another type of renewable energy to power my home?
Yes, you can utilize multiple types of renewable energy to power your home — for example, a combination of solar and wind power. You can also combine renewable energy generation with a non-renewable backup source of energy. Make sure that you discuss your proposed plan with your local Chatsworth solar panel installer, so that you understand what you'll need and what incentives you might or might not qualify for.
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.