2024 Solar Incentives Guide for Powder Springs, GA - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Powder Springs.
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.
Get a free quote from one of our trusted Powder Springs solar installers to see how much you can save.
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
What Solar Tax Credits, Incentives, and Rebates are Available in Powder Springs?
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" refers to a range of financial incentives implemented to make installing and using solar panels more affordable. This is done to encourage people to switch to renewable energy. Incentives could include things like discounts, cash back or credit on your utility bill each month. Some incentives are provided by the federal government, while others are offered by the Georgia government or by your utility company, county or municipality. You might qualify for any of the following types of solar incentives:
- Tax Exemptions: Tax exemptions can come in two forms. First, there is sales tax exemption, applied at the time you purchase your solar panels. The second is property tax exemption, which allows you to ignore the added value of your solar system when paying property tax on your home.
- 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 offer limited-time rebates at various times. Any rebates you receive will usually be deducted from your total price before tax credits are calculated.
- Tax Credits: These credits are dollar-for-dollar reductions (not deductions) in how much in taxes you owe the federal government.
- Net Metering: Don't forget to speak with your Powder Springs utility company about signing a net metering contract. This allows you to receive credit towards your utility bill every month for the value of excess energy your solar panels generate. You may receive either a dollar-for-dollar credit or a percentage of the value.
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 incentives are the type of incentives that you are most likely to have some knowledge of. The solar incentive that you're most likely to have heard of is the Federal Solar Investment Tax Credit (ITC), which gives you a credit on your taxes equal to a specified percentage of your solar system's cost.
The ITC was originally for 30% of the cost of installing a solar system, and has fluctuated slightly over the years between 26-30%. The percentage you qualify for will depend on when your solar system was installed. The total cost of installation includes the panels themselves as well as the cost of equipment, accessories and labor. There is no maximum amount you can claim. The ITC applies to solar panels installed after January 1, 2006, on your primary or secondary residence. The residence must be owned by you and in the United States.
Speaking with your local Powder Springs solar panel installer is the best way to understand how the ITC applies to your situation.
In August 2022, the Inflation Reduction Act expanded and extended the ITC, now called the Clean Energy Credit. Now, solar installation projects begun after January 1, 2022, and finished by December 31, 2032, may be eligible for a 30% tax credit. This percentage will then decrease slightly each year until the current Clean Energy Credit expires in 2035. 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. The best way to understand how the new Clean Energy Credit might apply to you is to reach out to your local Powder Springs solar panel installation expert with your questions.
State & Local Solar Incentives
Tax credits, rebates and more can be provided at multiple levels. Along with federal solar incentives, there are often state and local ones as well. These incentives may be distributed by your county or municipality, or by the Georgia government. Some incentives may be ongoing, while others are available for a limited time.
Next Steps for Installing Solar in Powder Springs
Solar incentives might come from the federal government, the Georgia government or your local utility company. The large number of incentives available has contributed to a large increase in solar energy use in the last 15 years. Reach out to your local solar panel installer today to find out more information and to save the most money possible on a solar system for your Powder Springs home.
EcoWatch's Powder Springs, GA Solar Incentives FAQs
How much can I save on my electric bill annually if I install solar panels on my Powder Springs home?
After adding solar panels to your home in Powder Springs, you can expect to save approximately $948.89 per year, or approximately $18,028.95 over 20 years.
What are some environmental benefits of adding solar panels to my home?
You can reduce your carbon footprint by 450 pounds of CO2 a year by installing 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 lessens the drain on our planet's resources.
How long until the federal solar tax credit ends?
The Clean Energy Credit (formerly named the federal solar tax credit, or the ITC), currently ends on January 1, 2035. Currently set at 30%, the credit will drop to 26% in 2033 and to 22% in 2034.
I want to trade in my old appliances for ones that are more energy-efficient. Are there any benefits I can apply for?
The recently passed Inflation Reduction Act includes provisions for multiple incentives meant to reward homeowners who make 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.
What if I am planning to add solar panels to a vacation home, rental property or commercial property? Will I still qualify for incentives?
While we recommend speaking with your local solar installer and/or tax professional to best understand what solar incentives apply to you, many incentives apply to a second home, so long as that home is in the United States and owned by you. There may be additional incentives available for commercial properties specifically, depending on the details.
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.