2023 Solar Incentives Guide for Greensburg, IN - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Greensburg.
You'll learn about:
- Local & State Solar Incentives
- Federal Tax Credits (Updated for 2023 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 Greensburg solar installers to see how much you can save.
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Updated September 15, 2023
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What Solar Tax Credits, Incentives, and Rebates are Available in Greensburg?
Renewable Energy Property Tax Exemption
Wind, hydroelectric, geothermal, solar thermal, solar PV, and other solar energy systems: the assessed value of the system
RushShelby Energy - Residential Energy Efficiency Rebate Program
Mini-Split Heat Pump: $300-$1,500
Heat Pump/Hybrid Water Heater: $500
Single Speed Compressor: $800
Dual/Variable Speed Compressor: $750 - $1,500
HVAC Tune-Up: 50% of cost
Lighting: Varies
Noble REMC - Residential Energy Efficiency Rebate Incentives
Variable Speed Pool Pump: $250
Air-Source Heat Pump: $250-$750
Ground Source Heat Pump: $1500
Heat Pump Water Heater: $400
NIPSCO - Feed-In Tariff
Wind 10 kW-200 kW: $0.15 - $0.138/kWh
Solar 5 kW - 10 kW: $0.17 - $0.1564/kWh
Solar 10 - 200 kW: $0.15/kWh - $0.138/kWh
Biomass 100kW - 1 MW: $0.0918/kWh
Duke Energy - Residential and Builder Energy Efficiency Rebate Program
Heat Pump Water Heater: $350
Attic Insulation and Air Sealing: $250/unit
Duct Sealing: $100/unit
Variable Speed Pool Pump: $300
Bartholomew County REMC - Residential Energy Efficiency Rebate Program
Air Source Heat Pumps: $750 - $1,500
Water Heater (New Construction/Conversion): $500
Refrigerator/Freezer Recycling: $50
LED Lighting: Instant discounts
Southeastern Indiana REMC - Residential Energy Efficiency Rebate Program
Ductless Mini-Split Heat Pump: $800 - $1,500
Mobile Home/Manufactured Housing: $1,000 - $3,000
Traditional Stick-built Modular Home Pre-Fab: $1,000 - $3,000
Geothermal Heat Pump: $1,750 - $3,000
Attic Insulation: $250 - $500
Duct Sealing: $250
Thermostat: $100
Crawl Space Remediation: $500 LED Lighting Store: Varies
Electric Water Heater: $50
Heat Pump Water Heater: $600
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
Solar incentives encourage people to switch their home over to renewable energy by providing financial incentives meant to lower the burden of solar panel installation and use. Incentives might include things like discounts, cash back or credit towards your monthly utility bill. Some incentives are offered by the federal government, while others are handled by the state of Indiana or by your specific utility company, county or municipality. You might qualify for any of the following types of solar incentives:
- Net Metering: Net metering factors in once your solar system is up and running. If you've signed a net metering agreement with your Greensburg utility company, it will subtract the value of the excess energy produced by your solar system from your monthly utility bill. In some locations, this is a dollar-for-dollar credit, while in other areas you may receive a refund equivalent to a percentage of the value.
- Tax Exemptions: These could come in the form of property tax exemptions, which can let you ignore the value added by your solar panels when paying property tax on your house. They may also include exemptions on sales tax at the time of purchase.
- Rebates: Some solar companies will help you claim a rebate, or partial refund after purchase, for your solar system. Counties or states will also sometimes offer limited-time rebates. The value of a rebate will usually come off your total price before tax credits are calculated.
- Tax Credits: Different from tax deductions, tax credits reduce, dollar-for-dollar, the amount of income tax that you owe the government.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
Federal Solar Incentives
Federal incentives are the type of incentives that you are most likely to have some familiarity with. The Federal Solar Investment Tax Credit, or ITC, is the best-known federal solar incentive. The ITC provides you with a tax credit for a set percentage of your solar system's cost.
The ITC can be credited towards the value of a solar system installed on your primary or secondary residence in the United States. The solar panels must have been installed after January 1, 2006 on a property you own for you to claim the credit. The ITC originally paid out 30% of all costs (panels, labor, accessories and equipment), although the covered amount has fluctuated slightly over time between 26-30%. The installation date of your solar system will determine what percentage you are eligible for. There is no cap on the claim amount.
Contacting your local Greensburg solar panel installer is the best way to learn more about how the ITC could apply to you.
The Inflation Reduction Act, passed in August 2022, added more provisions to the ITC (as well as renaming it to the Clean Energy Credit). For solar system installations that begin after January 1, 2022 and are completed by the end of 2032, homeowners can receive a credit equal to 30% of the total cost. After 2033, the percentage will decrease annually until the Clean Energy Credit ends in 2035. Starting in 2023, it will also be easier to get credits for energy storage systems under the new laws.
More information about the new Inflation Reduction Act can be found here. Your local Greensburg solar panel installation experts can answer your questions and explain how the new Clean Energy Credit may apply to you.
State & Local Solar Incentives
Federal solar incentives are not your only option; tax credits, rebates and more might also be offered at the local or state level. The incentives — which may be given by the state of Indiana, or by your county or municipality — could be offered on an ongoing basis, or for only a limited time.
Next Steps for Installing Solar in Greensburg
Solar incentives may be provided by the Indiana government, the federal government or your local utility company. The variety of available solar incentives has helped nationwide use of solar energy increase greatly in the last 15 years. Your local Greensburg solar panel installer can provide you with more details about which incentives you may qualify for, and get you started on the path to switching to renewable energy today.
EcoWatch's Greensburg, IN Solar Incentives FAQs
How do I know if I qualify for solar incentives?
It's best to speak with your local Greensburg solar installer to get an understanding of which incentives your project will qualify for. Generally, solar incentives apply to new solar panel systems installed on a property you own (in the U.S.) between the dates specified by the incentive. Some incentives, such as those given by the state of Indiana, may have other requirements.
How much can I save on my electric bill annually if I add solar panels to my house in Greensburg?
Generally, homeowners in Greensburg who install solar panels save around $994.38 per year, or around $18,893.29 over 20 years after they make the switch.
If I trade in my appliances for ones that can use solar energy, are there credits that I can claim?
The new Inflation Reduction Act provides multiple incentives that reward homeowners for making eco-friendly upgrades. Some of these incentives include tax credits and rebates for installing new electric appliances. You can find more details about these incentives here.
Can I apply for 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 solar panels. Depending on precisely which incentives you are claiming, they may apply in a different order. Be sure to 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 both solar and another type of renewable energy to power my home?
You can power your home with multiple types of renewable energy, or a combination of renewable and non-renewable energy. Be sure to discuss your plan with your local Greensburg solar installer. They can help you as you plan for your project and educate you on the various incentives that you will or won't 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.