2024 Solar Incentives Guide for Sulphur, LA - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Sulphur.
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 Sulphur?
Home Energy Loan Program (HELP)
New Orleans City - Energy Smart Program
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
The phrase "solar incentives" refers broadly to financial incentives that are in place to encourage increased use of renewable energy by making solar panels more affordable. You may qualify for different types of incentives, such as discounts, cash back or credit towards your monthly utility bill, depending on your situation. Certain incentives come from your specific utility company, county or municipality, some from the Louisiana government and others from the federal government. You might qualify for any of the following types of solar incentives:
- Rebates: Solar rebates can be offered by your local utility company, or by your state or county. These rebates work as partial refunds that are applied after you purchase a solar system and before tax credits are calculated.
- Tax Exemptions: These may come in the form of property tax exemptions, which can let you ignore the value added by your solar panels when paying taxes on your home. You may also qualify for an exemption on sales tax at the time of purchase.
- Net Metering: Don't forget to talk to your Sulphur utility company about signing a net metering agreement. This will allow you to receive credit towards your monthly utility bill for the value of excess energy your solar panels generate. You may receive either a dollar-for-dollar credit or a percentage of the value.
- Tax Credits: Tax credits are dollar-for-dollar reductions in the amount of income tax that you owe the federal government. (A tax credit is different from a tax deduction.)
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 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
Federal solar incentives are likely to be the first thing that you think of when you think about solar incentives. The solar incentive that you're most familiar with is probably the Federal Solar Investment Tax Credit (ITC), which provides a credit on your taxes equal to a predetermined percentage of your solar system's cost.
The ITC applies to a solar system installed on your primary or secondary residence in the United States. The solar system has to have been installed on a property you own after January 1, 2006, for you to be eligible for the credit. Originally, the ITC covered 30% of all system costs (panels, accessories, labor and equipment), although the total amount has fluctuated slightly over the last few years between 26-30%. The amount you qualify for will depend on when your solar system was installed. There is no cap on the claim amount.
To more fully understand how the ITC could apply to your situation, speak to your local Sulphur solar panel installation expert and request more information.
In August 2022, the Inflation Reduction Act expanded and extended the ITC, now dubbed the Clean Energy Credit. The Clean Energy Credit lasts until 2035. Solar installation projects started after January 1, 2022, and completed by the end of 2032 may qualify for a 30% tax credit. The amount will be decreased slightly each year until the end of the current program. Starting in 2023, it will also be easier to qualify for credits for energy storage systems under this new program.
Click here to learn more about the new Inflation Reduction Act. To better understand how the new Clean Energy Credit applies to you, speak with your local Sulphur solar installation expert.
State & Local Solar Incentives
Tax credits, rebates and more might be provided at multiple levels. In addition to federal solar incentives, there are often state and local ones, too. These incentives may be given out by the Louisiana government, or by your county or municipality. Certain incentives are available for a limited time, while others are ongoing.
Next Steps for Installing Solar in Sulphur
Nationwide solar energy use has increased enormously 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 federal government or the Louisiana government. Reaching out to your local Sulphur solar panel installation expert is a great first step towards getting the most money possible when you switch to solar energy.
EcoWatch's Sulphur, LA Solar Incentives FAQs
How much will a solar system save me on my electric bill in Sulphur annually?
When you add solar panels to your Sulphur home, you can expect to save around $937.77 per year, or approximately $17,817.66 over the next 20 years.
Who installs solar panel systems near me?
To learn about the top solar panel installers near you, take a look at our article on the best solar companies in Sulphur.
What are the environmental benefits of switching to solar?
You can reduce your carbon footprint by 400 pounds of CO2 annually by installing solar panels. This adds up to approximately 8,000 pounds in 20 years. In addition, solar power is a renewable energy source, which means that making the switch lessens the drain on our planet's resources.
Can I use multiple types of renewable energy to power my home?
Yes, you can employ multiple types of renewable energy to power your home — for example, a combination of solar and geothermal. You can also combine renewable energy generation with a non-renewable backup source of energy. Be sure to discuss your plan with your local Sulphur solar panel installer, to make sure you know what you'll need and what kinds of incentives you may or may not qualify for.
What if I add a solar system to a rental property, vacation home or commercial property? Do I still qualify for incentives?
Many solar incentives apply to a property located within the United States that you own; most secondary residences fall under this distinction. Other solar incentives may be available for commercial properties, depending on the details. We recommend speaking with your local solar installer and/or tax professional to better understand what incentives apply to your specific situation.
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.