2023 Solar Incentives Guide for Monroe, LA - Tax Credits & Rebates

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

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 Monroe solar installers to see how much you can save.

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated March 14, 2023

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 Monroe?

Solar Energy System Exemption

Incentive Type:
Property Tax Incentive

Home Energy Loan Program (HELP)

Incentive Type:
Loan Program
$6,000 from LA DNR

New Orleans City - Energy Smart Program

Incentive Type:
Rebate Program

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/


The phrase "solar incentives" includes a wide range of financial incentives implemented to make installing and using solar panels more affordable. This is done to encourage people to switch to renewable energy. Incentives could include things like discounts, cash back or monthly utility bill credits. Some incentives are offered by the federal government, while others are handled by the Louisiana government or your specific utility company, county or municipality. Some solar incentives you might qualify for are:

  • Rebates: A rebate is a partial refund given after you've purchased your solar system. These may be offered by your local utility company, your state or your county. The discount that rebates offer is normally applied to the price of solar panels before tax credits are calculated.
  • Net Metering: You may be able to sign a net metering contract with your Monroe utility company, that may apply to all or a percentage of the excess electricity that is generated by your solar panels. They will then deduct this value from your utility bill each month.
  • Tax Exemptions: Sales tax exemptions are applied at the point of sale for your solar panels. Property tax exemptions allow you to ignore the value added by your solar system when calculating the amount of property tax you need to pay.
  • 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.)

Federal Solar Incentives

Federal solar incentives are likely to be the first thing that comes to mind when you think about solar incentives. The Federal Solar Investment Tax Credit, or ITC, is likely the most commonly known federal solar incentive. The ITC provides a tax credit for a set percentage of the cost of your solar system.

The ITC was originally for 30% of the total cost of solar panel installation, although it has fluctuated slightly over the years 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 accessories, equipment and labor. There is no maximum amount you can claim. The ITC can be applied to solar panels installed after January 1, 2006 on your primary or secondary residence. The residence must be in the United States and owned by you.

To best understand how the ITC may apply to your situation, get in touch with your local Monroe solar panel installer and request more information.

The ITC has been renewed and expanded following the passage of the Inflation Reduction Act in August 2022. It's also now called the Clean Energy Credit. The Clean Energy Credit runs until 2035. Solar installation projects started after January 1, 2022 and completed by the end of 2032 may qualify for a 30% tax credit. This amount will decrease slightly on a yearly basis until the end of the current program. Starting in 2023, it will also be easier to qualify for credits for energy storage systems with the new act.

More information about the new Inflation Reduction Act can be found here. The easiest way to learn more about how the new Clean Energy Credit will apply to you is to talk with your local Monroe solar panel company.

State & Local Solar Incentives

Rebates, tax credits and more can be provided at multiple levels. Along with federal solar incentives, there are often state and local ones, too. Incentives may be provided 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 Monroe

Solar incentives may be provided by your local utility company, the federal government or the Louisiana government. The variety of available incentives has facilitated the nationwide growth of solar energy use in the last 15 years. When you're ready to make the switch to solar energy, calling your local Monroe solar panel installation expert is an excellent place to start.

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 Technology

Tesla Energy

★★★★★
4.5

  • 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

Best Warranty Coverage

Sunpro Solar

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

EcoWatch's Monroe, LA Solar Incentives FAQs

Who installs solar panels near me?

To find the right solar panel installer for you, check out our guide to the best solar companies in Monroe.

What are some environmental benefits of adding solar panels to my home?

Solar energy is renewable — by changing where you get your energy, you can help reduce the strain on our planet's resources. Solar panels can also reduce the CO2 emissions from your home by 350 pounds annually, or around 7,000 pounds in 20 years.

I want to switch my appliances out for ones that are more energy-efficient. Are there any benefits I can claim?

The recently passed Inflation Reduction Act provides several incentives meant to reward homeowners for making eco-friendly upgrades. Some 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 initial cost of solar panels, and later as reimbursement?

The order your incentives will be applied in may vary depending on which incentives you are claiming but typically yes, you can claim multiple types of incentives for your solar project. Speak to your solar installer or a local tax professional to make sure you are claiming all of the incentives you qualify for and applying them in the correct order.

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

Yes, you can use multiple types of renewable energy to power your home, such as a combination of geothermal and solar. You can also use both renewable energy sources and a backup source of non-renewable energy. You should discuss the details of your plan with your local Monroe solar installation expert, so that you understand what you'll need and what kinds of incentives you will or won't qualify for.

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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