2023 Solar Incentives Guide for Euharlee, GA - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Euharlee.
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 Euharlee?
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 implemented by the government and by solar companies to encourage increased use of renewable energy by making installing and using solar panels more affordable. Incentives might 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 state of Georgia or by your specific utility company, county or municipality. Categories of solar incentives include:
- Rebates: Your solar installer might help you claim a rebate, or partial refund of your purchase, for your solar panels. 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 income tax you owe the government.
- Net Metering: Net metering factors in after your solar system is up and running. If you have a net metering agreement with your Euharlee utility company, they will subtract the value of the excess energy produced by your solar system from your utility bill each month. In some locations, this is a dollar-for-dollar credit, while in others you may be refunded a percentage of the value.
- Tax Exemptions: Tax exemptions may come in two forms. First, there is sales tax exemption, applied when you purchase solar panels. The second is property tax exemption, which allows you to exclude the added value of your solar system when calculating property tax for your house.
Federal Solar Incentives
Federal incentives are the type of incentives that you are most likely to have heard of. 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 certain percentage of your solar system's cost.
The ITC can be applied to solar systems installed after January 1, 2006 and lets you deduct from your taxes a percentage of the total cost of solar panels, equipment, labor and accessories. You can receive this credit for 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 the amount you can claim may range between 26-30%. There is no maximum amount you can claim.
To know exactly how much the ITC could save you, contact your local Euharlee solar panel installation expert.
In August 2022, the ITC (now titled the Clean Energy Credit) was bolstered by the passage of the Inflation Reduction Act. Homeowners are now eligible for a credit of 30% of the total costs of solar system installation for projects started after January 1, 2022 and completed before the end of 2032. The percentage will then decrease annually until the Clean Energy Credit ends in 2035. Starting in 2023, the 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. To fully understand how the new Clean Energy Credit might apply to you, get in touch with your local Euharlee solar installers.
State & Local Solar Incentives
Federal solar incentives are not your only option; rebates, tax credits and more are often offered at the local or state level. Some incentives are ongoing, while others are offered for only a limited time. Your local incentives could come from your county or municipality, or from the Georgia government.
Next Steps for Installing Solar in Euharlee
You can apply for and receive solar incentives from the Georgia government and the federal government, as well as from your local utility company. This increase in availability of solar initiatives over the last 15 years has helped greatly increase nationwide adoption of solar energy. We suggest talking to your local Euharlee solar installation expert for more information about these incentives and to ensure that you're getting all of the money you can for your solar panels.
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 Euharlee, GA Solar Incentives FAQs
What if I want to add a solar system to a vacation home, rental property or commercial property? Can I still qualify for incentives?
While we recommend getting in touch with your local solar installer and/or tax professional to fully understand what solar incentives apply to you, many incentives can be claimed on a second home, so long as that home is in the United States and owned by you. There may be additional incentives available specifically for commercial properties, depending on the details.
My home already has solar panels installed. Do I qualify for any incentives?
You should plan to talk to the company that installed your solar system — or call a local Euharlee solar installer — to better understand which incentives you might qualify for. If your solar panels were installed after January 1, 2022, you likely qualify for the recently increased 30% tax credit under the Inflation Reduction Act. Systems installed between 2006 and 2021 may qualify for a tax credit of 26-30%.
What are some environmental benefits of installing solar panels on my home?
You can decrease your carbon footprint by 450 pounds of CO2 annually when you install solar panels. This adds up to around 9,000 pounds over 20 years. Solar is also a renewable energy source, meaning that switching your home over reduces the drain on our planet's resources.
How long until the federal solar tax credit ends?
The federal solar tax credit, formerly known as the ITC and now named the Clean Energy Credit, is set to end on January 1, 2035. The current 30% credit will end in 2032, replaced by a 26% credit in 2033 and a 22% credit in 2034.
If I trade in my appliances for ones that can use solar energy, are there any incentives that I can claim?
The new Inflation Reduction Act introduces a number of incentives that reward homeowners for making eco-friendly upgrades. Some of these incentives include rebates and tax credits for installing new electric appliances. You can find more details about these incentives here.
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.