2024 Solar Incentives Guide for Bruno, KS - Tax Credits & Rebates

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

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

The phrase "solar incentives" refers to financial incentives implemented by the government and by solar companies to encourage people to use renewable energy by making installing and using solar panels more affordable. Various kinds of incentives, including cash back, discounts or credit towards your monthly utility bill, might be available to you. Certain incentives may be provided via the state of Kansas, by your utility company or by county or municipality, while other incentives are federal. Some solar incentives you might qualify for are:

• Tax Credits: Tax credits are dollar-for-dollar reductions (not deductions) in how much in taxes you owe the government.
• Tax Exemptions: Tax exemptions may come in one of two forms. First, there is sales tax exemption, which is applied at the time you purchase your solar panels. The second is property tax exemption. This allows you to ignore the added value of your solar system when calculating property tax for your house.
• Net Metering: Be sure to talk with your Bruno utility company about signing a net metering agreement. This allows you to get a credit towards your monthly utility bill 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: Your solar installer might help you claim a rebate, or partial refund after purchase, for your solar system. Counties or states will also offer limited-time rebates at various times. The value of a rebate will usually come off the total price before tax credits are calculated.

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Federal Solar Incentives

When you hear the term "solar incentives," federal incentives may be the first thing that comes to mind. One of the incentives many people are likely familiar with is the Federal Solar Investment Tax Credit (ITC). This is a tax credit for a certain percentage of your solar system's cost.

The ITC can be applied to the total cost of installing a solar system, including the panels themselves as well as labor, accessories and equipment. You can claim this credit for panels installed after January 1, 2006, on a primary or secondary residence located in the United States that you own. From its original value of 30% of the total cost, the credit has fluctuated slightly between 26-30%, and you may qualify for varying percentages depending on when your project was completed. There is no maximum amount you can claim.

To better understand how the ITC could apply to your situation, call your local Bruno solar panel installer and request 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. With the new provisions, solar installation projects begun after January 1, 2022, and finished by December 31, 2032, may be eligible for a 30% tax credit. This percentage will then decrease slightly each year until the current Clean Energy Credit expires in 2035. Starting in 2023, the expansion will also make claiming credit for energy storage systems easier than ever before.

Click here to learn more about the new Inflation Reduction Act. Your local Bruno 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

In addition to federal solar incentives, there are often also state ones. Rebates, tax credits and more may be available at a more local level. Certain incentives are ongoing, while others are offered for only a limited time. Local solar incentives may come from your county or municipality, or from the Kansas government.

Next Steps for Installing Solar in Bruno

Solar incentives might be offered by your local utility company, the federal government or the Kansas government. The large number of available solar incentives has contributed to a large increase in solar energy use in the last 15 years. Your local Bruno solar panel installation expert can provide you with more details about which incentives you should apply for, and get you feeling good about making the change to renewable energy today.