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

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

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

Solar incentives help mitigate the cost of installing a solar panel system on your home. Financial incentives like these are in place to encourage more people to switch their home over to renewable energy. These incentives may include cash back, upfront discounts or monthly credits towards your utility bill. Some incentives are offered by the federal government, some by the state of Georgia and some by your specific utility company, county or municipality. Types of solar incentives might include:

• Net Metering: Be sure to talk to your Garden City utility company about signing a net metering contract. This will allow you to receive credit towards your utility bill every month for the value of excess energy your solar panels generate. You could receive either a dollar-for-dollar credit or a percentage of the value.
• Tax Exemptions: Your solar system might qualify for exemptions on both sales and property tax. Sales tax exemptions come into effect at the time of purchase. Property tax exemptions let you ignore the added value of the solar panels when you are calculating property taxes on your house.
• Rebates: Rebates, or cash back after a purchase, are usually applied prior to any solar tax credits being calculated. Rebates may be offered by your local utility company, by your county or by your state.
• Tax Credits: Tax credits are dollar-for-dollar reductions (not deductions) in the amount of tax that you owe the government.

Federal Solar Incentives

When thinking about solar incentives, federal incentives are likely the first thing that comes to mind. The Federal Solar Investment Tax Credit, or ITC, is likely the most commonly known federal solar incentive. The ITC provides a tax credit for a specific percentage of the cost of your solar system.

The ITC applies to solar panels installed after January 1, 2006 on a primary or secondary residence in the United States that you own. Originally, the tax credit was for 30% of the total cost — for panels, labor, equipment 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.

Your local Garden City solar panel installation expert can give you more information about the ITC and how it applies to your situation.

In August 2022, the ITC (now called the Clean Energy Credit) was bolstered by the passage of the Inflation Reduction Act. The Clean Energy Credit is valid until 2035. Any solar installation project that is completed between January 1, 2022 and December 31, 2032 may qualify for a 30% tax credit. This amount will decrease slightly on a yearly basis until the current program ends. Starting in 2023, the expansion to the program will also make it easier to get credit for energy storage systems.

Click here to learn more about the new Inflation Reduction Act. The best way to understand how the new Clean Energy Credit applies to you is to talk with your local Garden City solar panel company.

State & Local Solar Incentives

Some solar incentives are often also provided at the state and local level. Similar to federal incentives, these may include rebates, tax credits and more. These solar incentives — which may be provided by your county or municipality, or by the state of Georgia — could be offered on an ongoing basis, or for only a limited time.

Next Steps for Installing Solar in Garden City

You can apply for and receive solar incentives from the federal government and the Georgia government, as well as from your local utility company. The growing availability of solar initiatives over the last 15 years has helped increase solar adoption nationwide. Speaking with your local Garden City solar panel installer is the right first step towards getting the most money possible when you switch to solar energy.