2023 Solar Incentives Guide for Scott, LA - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Scott.
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 Scott?
Solar Energy System Exemption
Home Energy Loan Program (HELP)
New Orleans City - Energy Smart Program
Federal Residential Renewable Energy Tax Credit
The phrase "solar incentives" refers to financial incentives that are in place to encourage the use of renewable energy by making the installation and use of solar panels more affordable. Incentives can include things like discounts, cash back or credit on your utility bill each month. Some incentives are offered federally, while others are provided by the state of Louisiana or by your specific utility company, county or municipality. You might qualify for any of the following types of solar incentives:
- Net Metering: Make sure you talk with your Scott utility company about signing a net metering contract. This will allow you to get a credit towards your monthly utility bill for the value of excess energy generated by your solar panels. 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 system. These could be offered by your local utility company, your county or your state. The rebates are usually applied before tax credits are calculated.
- Tax Credits: Tax credits are dollar-for-dollar reductions that lower the amount of income tax you owe the government. (A tax credit is different from a tax deduction.)
- Tax Exemptions: These could come in the form of property tax exemptions, which can let you ignore the value of your solar system when paying taxes on your home. You could also look for exemptions on sales tax at the time of purchase.
Federal Solar Incentives
When someone says "solar incentives," you probably think of federal incentives first. You've likely heard of the Federal Solar Investment Tax Credit, or ITC. This incentive is a tax credit equal to a predetermined percentage of the money you spend on solar panels for your home.
The ITC can be applied 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 it may range from 26-30%, depending on when your solar system was installed. There is no cap on the claim amount.
To better understand how the ITC will apply to your situation, get in touch with your local Scott solar panel installation expert 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 bolsters the current credit, increasing it up to 30% for solar installations undertaken between January 1, 2022 and December 31, 2032. After this, the percentage will be reduced slightly each year until the program expires in 2035. Beginning in 2023, it will also be easier to get credits for energy storage systems under this new program.
More information about the new Inflation Reduction Act can be found here. Your local Scott solar panel installer can answer any questions you have and explain how the new Clean Energy Credit applies to you.
State & Local Solar Incentives
Some solar incentives may be offered at the local or state level. Similar to federal incentives, these can include rebates, tax credits and more. These incentives may be distributed 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 Scott
The large number 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. Reach out to your local solar panel installation expert today to discover more about the various programs and to save as much money as possible on a solar system for your Scott home.
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EcoWatch's Scott, LA Solar Incentives FAQs
How can I learn if I qualify for certain 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, sometimes have additional qualifications. Talk to your local Scott solar installer to find out what incentives your project will qualify for.
What are the best solar panel installation companies near me?
To find the best solar panel installer in your area, check out our guide to Scott's top solar panel companies.
How long until the federal solar tax credit ends?
The federal solar tax credit, previously called the ITC and now named the Clean Energy Credit, is slated to end January 1, 2035. The current 30% credit will end in 2032, replaced by a 26% credit in 2033 and a 22% credit in 2034.
Can I use a combination of solar and another type of renewable energy to power my home?
You can use multiple types of renewable energy, or a combination of renewable and non-renewable energy, to power your home. Make sure you talk through your plan with your local Scott solar installer. They can help you as you plan for your project and educate you on the various incentives that 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.