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

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

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

Solar incentives are intended to make renewable energy usage more affordable through financial incentives to help people install solar panels on their homes. Solar incentives may include cash back, upfront discounts or credit towards your monthly utility bill. Some incentives are given by the federal government, some by the state of Georgia and some by your utility company, county or municipality. Categories of solar incentives include:

• Net Metering: Be sure to talk to your Redan 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 generated by your solar panels. You may receive either a dollar-for-dollar credit or a percentage of the value.
• Rebates: Rebates, or cash back after a purchase, are typically given prior to any solar tax credits being calculated. Rebates can be given by your local utility company, by your state or by your county.
• Tax Exemptions: Your solar panel system might qualify for exemptions on both sales and property tax. Sales tax exemptions are applied 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 home.
• Tax Credits: Tax credits lower, dollar-for-dollar, the total amount of tax you owe the government. Tax credits differ from tax deductions.

Federal Solar Incentives

Federal solar incentives are probably the first thing that you think of when you think about solar incentives. It's likely that you've heard of the Federal Solar Investment Tax Credit, or ITC. This incentive is a tax credit that reduces your taxes by a predetermined percentage of the money you spend on your solar system.

The ITC can be applied to solar panels installed after January 1, 2006 on a primary or secondary residence in the United States that you own. Initially, the credit applied to 30% of the total cost — for panels, equipment, labor and accessories — although the percentage may range from 26-30%, depending on the installation date of your solar system. There is no cap on the amount you can claim.

Curious how the ITC might apply to your specific situation? Reach out to your local Redan solar panel installation expert to get more information.

The ITC was renewed and increased in scope after the passage of the Inflation Reduction Act in August 2022. It's also now called the Clean Energy Credit. 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 be decreased slightly each year until the end of the current program. Beginning in 2023, it will also be easier to obtain credits for energy storage systems under the new laws.

More information about the new Inflation Reduction Act can be found here. Your local Redan solar panel company is the best resource for answering your questions regarding the new Clean Energy Credit and how it applies to you.

State & Local Solar Incentives

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

Next Steps for Installing Solar in Redan

You can receive solar incentives from the federal government and the Georgia government, as well as from your local utility company. Growing availability of solar initiatives over the last 15 years has helped increase solar adoption nationwide. Your local Redan solar panel installer can help you learn more about which incentives you can apply for, and get you on track to switch to renewable energy today.