2024 Solar Incentives Guide for Hays, KS - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Hays.
You'll learn about:
- Local & State Solar Incentives
- Federal Tax Credits (Updated for 2024 and beyond)
- Ways to optimize your solar investment
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What Solar Tax Credits, Incentives, and Rebates are Available in Hays?
Renewable Energy Property Tax Exemption
Wind, hydroelectric, geothermal, solar thermal, solar PV, and other solar energy systems: the assessed value of the system
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
The term "solar incentives" broadly refers to financial incentives put in place by solar companies and the government to encourage increased use of renewable energy by making solar panels more affordable. Incentives might include things like discounts, cash back or monthly utility bill credits. Some incentives are handled federally, while others are provided by the Kansas government or by your specific utility company, county or municipality. Some solar incentives you might qualify for are:
- Net Metering: You may be able to sign a net metering contract with your Hays utility company, that may apply to all or a percentage of the excess electricity your solar panels generate. They will then deduct this value from your utility bill each month.
- Rebates: Solar companies may help you claim a rebate, or partial refund after purchase, for your solar system. States or counties will also sometimes offer limited-time rebates. If you receive a rebate, that amount will usually come off the total price before any tax credits are calculated.
- Tax Credits: Unlike tax deductions, tax credits reduce, dollar-for-dollar, the amount of income tax that you owe the government.
- Tax Exemptions: Your solar system may qualify for both sales tax and property tax exemptions. Sales tax exemptions are effective at the time of purchase. Property tax exemptions allow you to exclude the value that solar panels add when you are calculating property taxes on your house.
Best National Provider
SunPower
- 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
- 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
When someone says "solar incentives," you likely think of federal incentives first. The Federal Solar Investment Tax Credit, or ITC, is probably the most commonly known federal solar incentive. The ITC offers a tax credit for a set percentage of the cost of your solar system.
The ITC applies to solar panels installed after January 1, 2006, on a primary or secondary residence in the United States that you own. The credit initially covered 30% of the total cost – for panels, labor, equipment and accessories – although that amount may range from 26-30%, depending on the installation date of your solar system. There is no cap on the amount you can claim.
Curious how the ITC might apply to your specific situation? Contact your local Hays solar panel installer to get more information.
In August 2022, the ITC (now called the Clean Energy Credit) was bolstered by the passage of the Inflation Reduction Act. The new Clean Energy Credit is valid until 2035. You can now receive a 30% credit for solar systems that began installation on or after January 1, 2022, and will be done by December 31, 2032. The credit will then see a slight annual decrease until the date of expiration. The program expansion also makes credits for energy storage systems even easier to claim, starting in 2023.
Click here to learn more about the new Inflation Reduction Act. Your local Hays 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 state solar incentives available in addition to federal ones. Rebates, tax credits and more can be offered at a more local level. These solar incentives — which may be provided by the state of Kansas, 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 Hays
There are a number of different solar incentives: those offered by local utility companies, those given by the Kansas government and those provided by the federal government, to name a few. The use of solar energy has increased enormously in the last 15 years, partially due to these incentives. Reaching out to your local Hays solar panel installation company is the right first step towards getting all the incentives you qualify for when you switch to solar energy.
EcoWatch's Hays, KS Solar Incentives FAQs
How do I know if I qualify for different solar incentives?
Generally, solar incentives apply to:
- a new solar panel system
- installed on property you own
- within the U.S.
- within the date range specified by a particular incentive.
Specific incentives, including those given out by the Kansas government or by your county/municipality, might have additional qualifications. Speak with your local Hays solar installer to discover what incentives your project may qualify for.
How much can I save annually on my electric bill if I add solar panels to my house in Hays?
On average, homeowners in Hays who install solar panels save approximately $1,032.48 per year, or around $19,617.15 over 20 years after making the switch.
What are some environmental benefits of adding solar panels to my house?
You can lower your carbon footprint by 500 pounds of CO2 annually when you install solar panels. This adds up to roughly 10,000 pounds over 20 years. Solar is also a renewable energy source, meaning that making the switch lessens the drain on our planet's resources.
How long until the federal solar tax credit ends?
The Clean Energy Credit (formerly named the federal solar tax credit, or ITC), currently ends on January 1, 2035. Currently set at 30%, the credit will drop to 26% in 2033 and to 22% in 2034.
I want to change out my appliances for ones that are more energy-efficient. Are there any benefits I can apply for?
The new Inflation Reduction Act creates a number of new financial incentives that are available when you make eco-friendly improvements to your home. More details about these incentives, including information about incentives for purchasing new appliances, can be found here.
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.