2024 Solar Incentives Guide for Valparaiso, IN - Tax Credits & Rebates

In this guide, we'll cover the latest solar incentives and rebates available in Valparaiso.

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 Valparaiso solar installers to see how much you can save.

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

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

Wabash Valley Power Association (28 Member Cooperatives) - Residential Energy Efficiency Program

Incentive Type:
Rebate Program
Dual Fuel Heat Pump: $500
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

Renewable Energy Property Tax Exemption

Incentive Type:
Property Tax Incentive
Solar energy systems used for heating or cooling: out-of-pocket expenditures by the owner for the components and labor
Wind, hydroelectric, geothermal, solar thermal, solar PV, and other solar energy systems: the assessed value of the system

NIPSCO - Feed-In Tariff

Incentive Type:
Feed-in Tariff
Wind 3 - 10 kW: $0.23 - $0.25/kWh
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

Noble REMC - Residential Energy Efficiency Rebate Incentives

Incentive Type:
Rebate Program
Dual Fuel Heat Pump: $500
Variable Speed Pool Pump: $250
Air-Source Heat Pump: $250-$750
Ground Source Heat Pump: $1500
Heat Pump Water Heater: $400

Federal Residential Renewable Energy Tax Credit

Incentive Type:
Personal Tax Credit
30% federal tax credit for systems placed in service after 12/31/2021 and before 01/01/2033. Good for: solar water heat, solar photovoltaics, biomass, geothermal heat pumps, wind (small), fuel cells using renewable fuels.

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


Solar incentives help mitigate the cost of installing solar panels on your home. This category of financial incentives is designed to encourage more Americans to switch their home over to renewable energy. Different types of incentives, like 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 others are federal. Types of solar incentives might include:

  • Rebates: Rebates, or cash back after a purchase, are typically given before any solar tax credits are calculated. These rebates can be given by your local utility company, by your county or by your state.
  • Net Metering: Make sure you speak to your Valparaiso utility company about signing a net metering agreement. 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.
  • Tax Credits: Different from tax deductions, tax credits are dollar-for-dollar reductions in the amount of income tax that you owe the federal government.
  • Tax Exemptions: Your solar panels may qualify for exemptions on both sales and property tax. Sales tax exemptions are effective 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.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Technology

Tesla Energy

★★★★★
3.2

  • 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 solar incentives are likely the first thing that comes to mind when you think about solar incentives. A federal incentive that most people are probably familiar with is the Federal Solar Investment Tax Credit (ITC). The ITC is a tax credit for a specified percentage of your solar system's cost.

The ITC initially applied to 30% of the cost of solar panel installation, although it has fluctuated slightly over time 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 labor, accessories and equipment. 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 owned by you and in the United States.

Your local Valparaiso solar panel installation expert can provide more information about the ITC and how it might apply to your situation.

In August 2022, the Inflation Reduction Act made revisions to the ITC, now called the Clean Energy Credit. The Clean Energy Credit re-raises the credit up to 30% for solar installations undertaken between January 1, 2022, and December 31, 2032. After this, the percentage will be reduced slightly each year until the program expires in 2035. Starting in 2023, it will also be easier to get credits for energy storage systems under this new program.

More information about the new Inflation Reduction Act can be found here. Your local Valparaiso solar panel company can answer your questions and explain how the new Clean Energy Credit will apply to you.

State & Local Solar Incentives

There are often also state solar incentives in addition to those provided by the federal government. Rebates, tax credits and more may be available at a more local level. These solar incentives — which may be handled by the state of Indiana, or by your county or municipality — may be offered for only a limited time, or on an ongoing basis.

Next Steps for Installing Solar in Valparaiso

There are many types of solar incentives: those provided by local utility companies, those offered by the federal government and those provided by the Indiana government, to name a few. The use of solar energy has increased tremendously in the last 15 years, thanks to these incentives. Reach out to your local solar panel installation expert today to find out more information and to save the most money possible on a solar system for your Valparaiso home.

EcoWatch's Valparaiso, IN Solar Incentives FAQs

My home already has solar panels installed. Does my system qualify for any incentives?

An excellent idea would be to talk to someone from the company that installed your solar system – or get in touch with a local Valparaiso solar installer — to clarify which incentives you might qualify for. If your solar panels were installed after January 1, 2022, you likely qualify for the recently increased 30% tax credit under the Inflation Reduction Act. Systems installed between 2006 and 2021 may qualify for a tax credit of 26-30%.

Who installs solar panel systems near me?

To find the right solar panel installer for you, check out our guide to Valparaiso's best solar panel companies.

Can I use multiple types of renewable energy to power my home?

Yes, you can employ multiple types of renewable energy to power your home, such as a combination of solar and wind power. You can also combine renewable energy generation with a backup source of non-renewable energy. Make sure that you discuss your proposed plan with your local Valparaiso solar panel installer, so that you understand what you'll need and what kinds of incentives you might or might not qualify for.

Can I claim incentives for adding solar panels to a vacation home, rental property or commercial property?

Many solar incentives apply to a property located within the United States that you own, and most secondary residences will fall under this distinction. There may be other solar incentives available for commercial properties, depending on the specifics. We recommend reaching out to your local solar installer and/or tax professional to fully understand what incentives may apply to your specific situation.

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.

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