2023 Solar Incentives Guide for Hartford City, IN - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Hartford City.
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 Hartford City 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 Hartford City?
Renewable Energy Property Tax Exemption
Wind, hydroelectric, geothermal, solar thermal, solar PV, and other solar energy systems: the assessed value of the system
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
Wabash Valley Power Association (28 Member Cooperatives) - Residential Energy Efficiency Program
Variable Speed Pool Pump: $250
Air-Source Heat Pump: $250 - $750
Geothermal Heat Pump: $1,500
Heat Pump Water Heater: $400/unit
HVAC: Varies depending on ZIP code. See program website
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
Indiana Michigan Power - Energy Savings Rebate Program
Air Source Heat Pump: $100 - $200/ton
Ductless Heat Pump/Mini Split: $80 - $285/ton
Geothermal Heat Pump: $120-$240/ton
Packaged Terminal Heat Pump: $100-$250
ECM Furnace Fan Motor: $100
Heat Pump Water Heater: $350
Variable Speed Pool Pumps: $200
Dehumidifier: $25
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
Solar incentives are intended to encourage people to make the switch to renewable energy by offering financial incentives meant to lower the burden of solar panel installation and use. Different types of incentives, such as cash back, discounts or monthly utility bill credits, might be available to you. Some incentives may be offered by the Indiana government, by your utility company or by county or municipality, while other incentives are federal. Types of solar incentives might include:
- Tax Exemptions: Sales tax exemptions are applied at the point of sale for your solar panels. Property tax exemptions let you ignore the added value of your solar system when calculating the amount of property tax you need to pay.
- Rebates: A solar rebate is a partial refund given after you've purchased your solar panels. Rebates might be offered by your local utility company, your county or your state. The cash back that you get from the rebates is normally applied before tax credits are calculated.
- Tax Credits: Tax credits are dollar-for-dollar reductions in the amount of income tax that you owe the government. (This is different from a tax deduction.)
- Net Metering: Net metering becomes relevant after your solar panels are up and running. If you have a net metering agreement with your Hartford City utility company, they will subtract the value of the excess energy your solar system produces from your monthly utility bill. In some areas, this credit is dollar-for-dollar, while in other places you may be refunded a percentage of the value.
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 knowledge of. The Federal Solar Investment Tax Credit, or ITC, is probably the best-known federal solar incentive. The ITC offers a tax credit for a specific percentage of the cost of your solar system.
The ITC can be applied to solar systems installed after January 1, 2006 and lets you deduct from your taxes a percentage of the total cost of solar panels, accessories, labor and equipment. You can receive this credit for solar panels installed on a primary or secondary residence that you own in the United States. The original claim amount was 30% of the total cost, although the amount you can claim may range between 26-30%. There is no maximum amount you can claim.
Contacting your local Hartford City solar panel installation expert is the best way to learn more about how the ITC may apply to your situation.
The Inflation Reduction Act, passed in August 2022, made some changes to the ITC (as well as renaming it to the Clean Energy Credit). For solar systems installed between January 1, 2022 and December 31, 2032, homeowners can apply for a credit equal to 30% of the total cost. The percentage will then decrease annually until the Clean Energy Credit ends in 2035. The 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. Your local Hartford City solar panel installation expert is the best person to answer 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 claimed at multiple levels. Along with federal solar incentives, there are often state and local ones, too. Some incentives are ongoing, while others are only available for a limited time. Incentives might be given by the Indiana government, or by your county or municipality.
Next Steps for Installing Solar in Hartford City
Nationwide solar energy use has increased enormously in the last 15 years, in part due to the increase in availability of solar incentives. You can obtain these incentives from your local utility company, the Indiana government or the federal government. Reach out to your local solar panel installer today to learn more and to save the most money possible on a solar system for your Hartford City home.
EcoWatch's Hartford City, IN Solar Incentives FAQs
How do I learn if I qualify for solar incentives?
It's a good idea to talk to your local Hartford City solar installer for a better understanding of which incentives your project may qualify for. Generally, solar incentives apply to new solar systems installed on property you own (in the U.S.) between the dates specified by the incentive. Some incentives, like those provided by the Indiana government, might have additional requirements.
What are the highest-rated solar panel installation companies near me?
To find the best solar panel installer in your area, check out our guide to Hartford City's top solar panel companies.
What are some of the environmental benefits of switching to solar energy?
Solar energy is renewable — by changing where you get your energy, you can help lessen the strain on our planet's resources. Solar panels can also reduce your home's CO2 emissions by 450 pounds yearly, or around 9,000 pounds over 20 years.
I want to trade in my old appliances for ones that are more energy-efficient. Are there any incentives I can apply for?
The new Inflation Reduction Act includes provisions for a number of incentives designed 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.
Can I apply for incentives both towards the up-front cost of solar panels, and later as reimbursement?
Yes, you can receive both tax credits and rebates towards the cost of solar panels. Depending on which incentives you are receiving, they may apply in a different order. Be sure to speak with your solar installer or a local tax professional to ensure that you are claiming incentives correctly and that you're getting the most money possible.
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.