2023 Solar Incentives Guide for Oak Hills Place, LA - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Oak Hills Place.
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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By EcoWatch Local Advisors
Data Analysis: James Savino
Ranking Methodology: Karsten Neumeister
Updated May 04, 2023
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What Solar Tax Credits, Incentives, and Rebates are Available in Oak Hills Place?
Solar Energy System Exemption
Home Energy Loan Program (HELP)
New Orleans City - Energy Smart Program
Federal Residential Renewable Energy Tax Credit
The term "solar incentives" refers to 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. Various kinds of incentives, such as discounts, cash back or monthly utility bill credits, may be available to you. Some incentives may be offered by the state of Louisiana, by your utility company or by county or municipality, while others are federal. Some solar incentives you might qualify for are:
- Net Metering: Net metering factors in once your solar system is up and running. If you have a net metering agreement with your Oak Hills Place utility company, they will subtract the value of the excess energy your solar system produces from your monthly utility bill. In some places, this credit is dollar-for-dollar, while in other places you might receive a refund equivalent to a percentage of the value.
- Rebates: Solar rebates can be provided by your county or state, or by your local utility company. These rebates are essentially partial refunds that are applied after you pay for a solar system and before 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: Sales tax exemptions are effective at the time of purchase for your solar system. Property tax exemptions allow you to ignore the value added by your solar system when you calculate how much property tax you need to pay.
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 predetermined percentage of the cost of your solar system.
The ITC can be applied to solar systems installed after January 1, 2006 on a primary or secondary residence that you own in the United States. Initially, the credit applied to 30% of the total cost — for panels, accessories, labor and equipment — although that amount may range from 26-30%, depending on when your solar system was installed. There is no cap on the amount you can claim.
Curious how the ITC might apply to your specific situation? Reach out to your local Oak Hills Place solar panel installer to get more information.
The Inflation Reduction Act, passed in August 2022, expanded and extended the ITC (as well as retitling it the Clean Energy Credit). Homeowners are now eligible for a credit equal to 30% of the total costs of solar system installation for projects started after January 1, 2022 and completed before the end of 2032. The credit percentage will then begin to decrease annually until the Clean Energy Credit expires in 2035. The expansion also makes credits for energy storage systems even easier to claim, beginning in 2023.
Click here to learn more about the new Inflation Reduction Act. To best understand how the new Clean Energy Credit applies to you, talk to your local Oak Hills Place solar installation expert.
State & Local Solar Incentives
Rebates, tax credits and more can be claimed at multiple levels. Along with federal solar incentives, there are often state and local ones, too. These incentives might be given out by your county or municipality, or by the Louisiana government. Some are available for a limited time, while others are ongoing.
Next Steps for Installing Solar in Oak Hills Place
The nationwide use of solar energy has gone up tremendously in the last 15 years, in part due to the increase in availability of solar incentives. You can obtain these incentives from your local utility company, the Louisiana government or the federal government. Your local Oak Hills Place solar panel installer can provide you with more details about which incentives you might qualify for, and get you on track to switch to renewable energy today.
Best Warranty Coverage
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
- 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
EcoWatch's Oak Hills Place, LA Solar Incentives FAQs
How do I know if I qualify for solar incentives?
Generally, solar incentives apply to:
- a new solar system
- installed on a property that you own
- within the U.S.
- between the dates specified by a particular incentive.
Specific incentives, including those given out by the Louisiana government or by your county/municipality, might have additional qualifications. Speak with your local Oak Hills Place solar installer to learn more about what incentives your project will qualify for.
What are the top solar panel installation companies near me?
To find a top-rated solar panel installer, check out our guide to the best solar companies in Oak Hills Place.
What are the environmental benefits of switching to solar?
Solar energy is a renewable energy source — by switching where you get your energy, you can help lessen the strain on our planet's resources. A solar system can also lower your home's CO2 emissions by 400 pounds a year, or roughly 8,000 pounds in 20 years.
How long until the federal solar tax credit ends?
The Clean Energy Credit (previously called the federal solar tax credit, or ITC), is slated to end on January 1, 2035. Currently set at 30%, the credit will drop to 26% in 2033 and to 22% in 2034.
Can I use multiple types of renewable energy to power my home?
Yes, you can utilize multiple types of renewable energy to power your home, such as a combination of geothermal and solar. You can also combine renewable energy generation with a non-renewable backup source of energy. You should discuss the details of your plan with your local Oak Hills Place solar panel installer, to make sure you know 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.