2023 Solar Incentives Guide for Conyers, GA - Tax Credits & Rebates

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

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

Solar incentives are intended to encourage homeowners to switch their home over to renewable energy by offering financial incentives meant to lower the burden of solar panel installation and use. You may qualify for different types of incentives, including discounts, cash back or monthly utility bill credits, depending on your situation. Certain incentives come from your specific utility company, county or municipality, some from the state of Georgia and others from the federal government. Some solar incentives you might qualify for are:

• Tax Exemptions: Sales tax exemptions are applied at the time of purchase for your solar system. Property tax exemptions let you exclude the value added by your solar system when calculating the amount of property tax you need to pay on your home.
• Rebates: Solar rebates might be provided by your state or county, or by your local utility company. These rebates work as cash back that is applied after you pay for a solar system and before tax credits are calculated.
• Tax Credits: Different from tax deductions, tax credits reduce, dollar-for-dollar, the amount of income tax that you owe the government.
• Net Metering: Net metering factors in once your solar system is up and running. If you have a net metering agreement with your Conyers utility company, they will subtract the value of the excess energy produced by your solar system from your utility bill each month. In some areas, this is a dollar-for-dollar credit, while in others you may receive a refund equivalent to a percentage of the value.

Federal Solar Incentives

Federal incentives are the type of incentives that you are most likely to have some familiarity with. One of the incentives many people are likely familiar with is the Federal Solar Investment Tax Credit (ITC). The ITC is a tax credit for a specified percentage of your solar system's cost.

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. Initially, the credit applied to 30% of the total cost — for panels, equipment, labor and accessories — although that amount may range from 26-30%, depending on when your solar project was undertaken. There is no cap on the claim amount.

To best understand how the ITC will apply to you, get in touch with your local Conyers solar panel installation expert and request more information.

In August 2022, the ITC (now titled the Clean Energy Credit) was expanded and extended by the passing of the Inflation Reduction Act. The Clean Energy Credit has increased the current credit up to 30% for solar systems installed between 2022 and 2032. After 2032, the credit percentage will see a slight decrease annually until the end of the program in 2035. Starting in 2023, it will also be easier to qualify for credits for energy storage systems with the new act.

Click here to learn more about the new Inflation Reduction Act. Your local Conyers 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

Rebates, tax credits and more can be claimed at multiple levels. On top of federal solar incentives, there are often state and local ones as well. Incentives may be provided by your county or municipality, or by the state of Georgia. Some incentives are available for only a limited time, while others are ongoing.

Next Steps for Installing Solar in Conyers

Nationwide solar energy use has significantly increased in the past 15 years, in part due to the proliferation of solar incentives. You can obtain these incentives from the Georgia government, the federal government or your local utility company. When you're prepared to make the switch to solar energy, calling your local Conyers solar panel installation expert is a great first step.