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

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

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

The term "solar incentives" refers to financial incentives that are in place to encourage people to use renewable energy by making installing and using solar panels more affordable. You may be eligible for different types of incentives, such as discounts, cash back or monthly utility bill credits, depending on your situation. Some incentives come from your specific utility company, county or municipality, some from the state of Georgia and others from the federal government. Some broad categories of solar incentives include:

• Rebates: Rebates, or partial refunds after a purchase, are normally applied before any solar tax credits are calculated. Rebates might be offered by your local utility company, by your state or by your county.
• Net Metering: Net metering is an incentive you can get after your solar system is up and running. If you have a net metering agreement in place with your Winder utility company, they will subtract the value of the excess energy produced by your solar system from your utility bill each month. In some areas, this is a dollar-for-dollar credit, while in other areas you may be refunded a percentage of the value.
• Tax Credits: Different from tax deductions, tax credits reduce, dollar-for-dollar, the amount of income tax that you owe the federal government.
• Tax Exemptions: Tax exemptions may come in one of two forms. First, there is sales tax exemption, which is applied when you purchase solar panels. The second is property tax exemption, which allows you to ignore 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 some familiarity with. It's likely that you've heard of the Federal Solar Investment Tax Credit, or ITC. This incentive is a tax credit equal to a specified percentage of the money you spend on your solar system.

The ITC was originally for 30% of the cost of installing solar panels, although that number 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 installation cost includes the panels themselves as well as the cost of labor, equipment and accessories. There is no maximum claim amount. The ITC applies to solar panels installed after January 1, 2006 on your primary or secondary residence. The residence must be in the United States and owned by you.

Talking to your local Winder solar panel installation expert is the best way to learn more about how the ITC applies to your situation.

The ITC has been renewed and expanded following 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 decrease slightly each year until the current program ends. The program expansion also makes it easier to get credit for energy storage systems, beginning in 2023.

More information about the new Inflation Reduction Act can be found here. To best understand how the new Clean Energy Credit applies to you, get in touch with your local Winder solar installation company.

State & Local Solar Incentives

There are often state solar incentives available in addition to federal ones. Rebates, tax credits and more can be offered at a more local level. The incentives — which may be given by your county or municipality, or by the state of Georgia — might be offered on an ongoing basis, or for only a limited time.

Next Steps for Installing Solar in Winder

You can apply for and receive solar incentives from the Georgia government and the federal government, as well as from your local utility company. The increased availability of solar initiatives in the past 15 years has helped greatly increase nationwide adoption of solar energy. Getting in touch with your local Winder solar panel installation expert is the best first step towards getting the most money possible when you switch to solar energy.