2023 Solar Incentives Guide for Gretna, LA - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Gretna.
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.
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Updated September 15, 2023
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What Solar Tax Credits, Incentives, and Rebates are Available in Gretna?
Home Energy Loan Program (HELP)
New Orleans City - Energy Smart Program
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
Solar incentives are intended to make renewable energy usage more affordable through financial incentives for individuals who install solar panels on their homes. Incentives might include things like discounts, cash back or credit on your utility bill each month. Some incentives are offered by the federal government, while others are provided by the Louisiana government or by your specific utility company, county or municipality. Categories of solar incentives include:
- Tax Credits: Tax credits reduce, dollar-for-dollar, how much income tax you owe the government. These are different from tax deductions.
- Net Metering: Don't forget to talk with your Gretna utility company about signing a net metering agreement. This will allow you to get a credit towards your monthly utility bill for the value of excess energy your solar panels generate. You might receive either a dollar-for-dollar credit or a percentage of the value.
- Rebates: A solar rebate is a partial refund credited to your account after you've paid for your solar panels. These could be offered by your local utility company, your county or your state. The rebates are usually applied before calculating tax credits.
- Tax Exemptions: Tax exemptions may come in 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 exclude the added value of your solar system when calculating property tax for your house.
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Federal Solar Incentives
Federal solar incentives are likely to be the first thing that you think of when thinking about solar incentives. The Federal Solar Investment Tax Credit, or ITC, is likely the most commonly known federal solar incentive. The ITC offers a tax credit for a specific percentage of the cost of your solar system.
The ITC initially applied to 30% of the total cost of installing a solar system, although it has fluctuated slightly over time between 26-30%. The installation date of your solar system will determine what percentage you qualify for. The total installation cost includes the panels themselves as well as the cost of accessories, equipment and labor. There is no maximum claim amount. The ITC applies to solar systems installed after January 1, 2006 on your primary or secondary residence. The residence must be in the United States and owned by you.
Reaching out to your local Gretna solar panel installer is the best way to understand how the ITC could apply to your situation.
The Inflation Reduction Act, passed in August 2022, added more provisions to the ITC (as well as renaming it to the Clean Energy Credit). Under the new program, solar installation projects that are completed between 2022 and 2032 may be eligible for a 30% tax credit. This percentage will then see a slight annual decrease until the current Clean Energy Credit expires in 2035. The expansion also makes claiming credit for energy storage systems easier than ever before, beginning in 2023.
Click here to learn more about the new Inflation Reduction Act. Your local Gretna solar panel installation experts can answer your questions and explain how the new Clean Energy Credit will apply to you.
State & Local Solar Incentives
Some solar incentives are often also provided at the state and local level. As with federal incentives, these can include rebates, tax credits and more. Incentives may be offered by the state of Louisiana, or by your county or municipality. Some incentives might only be available for a limited time, while others are ongoing.
Next Steps for Installing Solar in Gretna
The variety of available solar incentives has contributed greatly to the increase in the nationwide adoption of solar energy over the last 15 years. You may receive solar incentives from your local utility company, the Louisiana government or the federal government. When you're prepared to switch over to solar energy, calling your local Gretna solar panel installation expert is a great first step.
EcoWatch's Gretna, LA Solar Incentives FAQs
How can I learn if I qualify for specific solar incentives?
It's a good idea to talk to your local Gretna solar installer for a better 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 offered by the government of Louisiana, might have other requirements.
How much will solar panels save me annually on my electric bill in Gretna?
Once you add solar panels to your house in Gretna, you can expect to save around $904.04 per year, or around $17,176.85 over 20 years.
What are some of the environmental benefits of switching to solar energy?
You can lower your carbon footprint by 400 pounds of CO2 a year when you install solar panels. This adds up to roughly 8,000 pounds in 20 years. In addition, solar power is a renewable energy source, which means that switching your home over reduces the drain on our planet's resources.
If I switch my appliances out for ones that utilize solar energy, are there any benefits I can claim?
The new Inflation Reduction Act includes provisions for several incentives meant to reward homeowners who make 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 qualify for incentives both towards the initial cost of solar panels, and later as reimbursement?
The order in which incentives are applied could vary depending on which incentives you receive but in most cases yes, you can receive multiple types of incentives for your solar project. Get in touch with your solar installer or a local tax professional to ensure you are claiming all of the incentives you qualify for and applying them in the correct order.
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.