2024 Solar Incentives Guide for Lawrenceville, GA - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Lawrenceville.
You'll learn about:
- Local & State Solar Incentives
- Federal Tax Credits (Updated for 2024 and beyond)
- Ways to optimize your solar investment
Solar installers are experts in maximizing your solar tax credits and rebates.
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What Solar Tax Credits, Incentives, and Rebates are Available in Lawrenceville?
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
Jackson EMC - Right Choice Sun Power Rebate Program
Walton EMC - HomePlus Loan Program
Walton EMC - Residential Energy Efficiency Rebate Programs
Water Heater: $200/unit
Heat Pump: $200/unit
Heat Pump Water Heater: $200/home
Waste Heat Recovery System: $200/home
New Homes
Underground Wiring Refund: Up to $500
Water Heater: $200/unit
Heat Pump Water Heater: $200/home
Waste Heat Recovery System: $200/home
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
Solar incentives are meant to help mitigate the cost of installing solar panels on your home. These financial incentives are designed to encourage more people to convert their home partially or fully to renewable energy. These incentives may include cash back, upfront discounts or credit towards your monthly utility bill. Some incentives are handled by the federal government, some by the state of Georgia and some by your specific utility company, county or municipality. Categories of solar incentives include:
- Tax Credits: Tax credits decrease, dollar-for-dollar, how much income tax you owe the federal government. These differ from tax deductions.
- Tax Exemptions: Sales tax exemptions go into effect at the point of sale for your solar panels. Property tax exemptions let you exclude the value that your solar panels add when you're calculating the amount of property tax you need to pay on your home.
- Net Metering: Net metering becomes relevant after your solar system is up and running. If you've signed a net metering agreement with your Lawrenceville utility company, they will subtract the value of the excess energy produced by your solar system from your monthly utility bill. In some places, this is a dollar-for-dollar credit, while in other areas you may make back a percentage of the value.
- Rebates: Rebates, or cash back after a purchase, are usually applied prior to any solar tax credits being calculated. Rebates might be given by your local utility company, by your county or by your state.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
Federal Solar Incentives
Federal solar incentives are likely the first thing that you think of when you think about solar incentives. You've likely heard of the Federal Solar Investment Tax Credit, or ITC. The ITC is a tax credit that reduces your taxes by a specified percentage of the money you spend on your solar system.
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, accessories, labor 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 depending on when the project was completed, your credit may range from 26-30%. There is no maximum claim amount.
Your local Lawrenceville solar panel installation expert can give you more information about the ITC and how it may apply to your situation.
The Inflation Reduction Act, passed in August 2022, expanded and extended the ITC (as well as renaming it to the Clean Energy Credit). The new Clean Energy Credit now runs until 2035. Homeowners are now eligible for a 30% credit for solar systems that began installation after January 1, 2022, and are completed by the end of 2032. The total credit will then be decreased by a few percentage points every year until it expires. Starting in 2023, the expansion to the program will also make it easier to get credit for energy storage systems.
More information about the new Inflation Reduction Act can be found here. Your local Lawrenceville solar panel installer can answer your questions and explain how the new Clean Energy Credit may apply to you.
State & Local Solar Incentives
Some solar incentives may be provided at the state and local level. Similar to federal incentives, these could include tax credits, rebates and more. These incentives — which might be handled by your county or municipality, or by the state of Georgia — may be offered on an ongoing basis, or for only a limited time.
Next Steps for Installing Solar in Lawrenceville
The variety of solar incentives available has contributed greatly to the increase in the adoption of solar energy nationwide over the last 15 years. You might qualify for solar incentives from the federal government, the Georgia government or from your local utility company. Your local Lawrenceville solar panel installation company can give you more information about which incentives you should apply for, and get you started on the path to switching to renewable energy today.
EcoWatch's Lawrenceville, GA Solar Incentives FAQs
My home already has solar panels. Do I qualify for any incentives?
Your best bet is to talk to a representative from the company that installed your system – or get in touch with a local Lawrenceville solar installer — to clarify which incentives you may qualify for. If your system was installed after January 1, 2022, you likely qualify for the recently increased 30% tax credit under the Inflation Reduction Act. Solar panels installed between 2006 and 2021 may qualify for a tax credit of 26-30%.
Who installs solar panel systems near me?
To find the best solar panel installation companies near you, read our article on Lawrenceville's top solar panel companies.
If I switch my appliances out for ones that can use solar energy, are there any benefits I can claim?
The new Inflation Reduction Act creates a variety of new financial incentives for making eco-friendly improvements to your home. More details about these incentives, including information about incentives for purchasing new appliances, can be found here.
Can I receive incentives both towards the initial cost of solar panels, and later as reimbursement?
Yes, you can claim both tax credits and rebates towards the cost of your solar panels. Depending on precisely which incentives you are applying for, they may apply in a different order. Make sure that you talk to your solar installer or a local tax professional to confirm that you are claiming incentives correctly and that you're getting the most money you can.
Can I use multiple types of renewable energy to power my home?
Yes, you can use multiple types of renewable energy to power your home, such as a combination of solar and wind power. You can also combine renewable energy generation with a backup source of non-renewable energy. Be sure to discuss the details of your plan with your local Lawrenceville solar panel installer, to get an understanding of what will be needed and what types of 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.