2024 Solar Incentives Guide for Easton, MD - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Easton.
You'll learn about:
- Local & State Solar Incentives
- Federal Tax Credits (Updated for 2024 and beyond)
- Ways to optimize your solar investment
Solar installers are experts in maximizing your solar tax credits and rebates.
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What Solar Tax Credits, Incentives, and Rebates are Available in Easton?
Residential Clean Energy Rebate Program
SWH: $500/project (flat per installation/household incentive)
New GHC: $3,000/project
GHC Replacement: $500/project
Solar Renewable Energy Certificates (SRECs)
Sales and Use Tax Exemption for Residential Solar and Wind Electricity Sales
Property Tax Exemption for Solar and Wind Energy Systems
Clean-Burning Wood Stove Grant Program
Pellet Burning Stove: $700
Local Option - Property Tax Credit for High Performance Buildings
Local Option - Property Tax Credit for Renewables and Energy Conservation Devices
Residential/Community Wind Grant Program
Community: $1000/kW - $4000/kW, depending on the system capacity
Delmarva Power - Residential Energy Efficiency Rebate Program
LED Fixtures: $8 per fixture
LED Lighting: Up to $3 per bulb
Appliances
Clothes Washer: $75 - $100
Clothes Dryer: $50
Hybrid Water Heater: $500
Pool Pump: $150 - $400
Refrigerator: $100
Smart Thermostat: $100
Dehumidifier: $30
HVAC
Air-Source Heat Pump: $400 (Tier 1) - $650 (Tier 2)
Central A/C: $300 (Tier 1) - $500 (Tier 2)
Geothermal Heat Pump: $1,500
ECM Furnace Motor: $50 - $100
Home Energy Check up: Free
Recycling
A/C or Dehumidifier: $25
Refrigerator or Freezer: $50
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
The phrase "solar incentives" includes a wide range of financial incentives put in place 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 credit on your utility bill each month. Some incentives are offered by the federal government, while others are offered by the state of Maryland or your utility company, county or municipality. Categories of solar incentives include:
- Net Metering: Be sure to speak with your Easton utility company about signing a net metering contract. 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.
- Rebates: Solar companies may help you claim a rebate, or partial refund after purchase, for your solar system. States or counties will also offer limited-time rebates at various times. If you receive a rebate, that amount will usually be deducted from your total price before any tax credits are calculated.
- Tax Exemptions: Sales tax exemptions go into effect at the point of sale for your solar system. Property tax exemptions allow you to ignore the value that your solar panels add when you're calculating the amount of property tax you need to pay.
- Tax Credits: Tax credits reduce, dollar-for-dollar, how much income tax you owe the government. These are different from tax deductions.
- Solar Renewable Energy Certificate (SREC): In general, solar systems that produce more than a predetermined (generally small) amount of electricity can qualify for SRECs or other similar performance-based incentives. SRECs and the like are typically offered by your state government. SRECs can be sold to your utility company or another buyer, and this is usually considered part of your taxable income.
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 for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
Federal Solar Incentives
When people think of solar incentives, federal incentives might be the first thing that comes to mind. The Federal Solar Investment Tax Credit, or ITC, is probably the most commonly known federal solar incentive. The ITC allows you to claim a tax credit for a predetermined percentage of your solar system's cost.
The ITC applies to the total cost of installing a solar system, including the panels themselves as well as equipment, labor and accessories. This credit can be claimed for panels installed after January 1, 2006, on a primary or secondary residence that you own and that is located in the United States. The tax credit ranges from 26-30% of total costs depending on when your project was completed. There is no maximum amount you can claim.
Contacting your local Easton solar panel installer is the best way to understand how the ITC could apply to you.
In August 2022, the Inflation Reduction Act expanded and extended the ITC, now called the Clean Energy Credit. The new Clean Energy Credit is valid until 2035. American homeowners can now apply for a 30% credit for solar systems installed between January 1, 2022, and December 31, 2032. The total credit will then decrease annually until it expires. Starting in 2023, the expansion to the program will also make it easier to get credit for energy storage systems.
More information about the new Inflation Reduction Act can be found here. To better understand how the new Clean Energy Credit might apply to you, reach out to your local Easton solar installation expert.
State & Local Solar Incentives
Some solar incentives may be provided at the state and local level. Like with federal incentives, these can include rebates, tax credits and more. Some incentives are ongoing, while others might only be available for a limited time. They may be provided by your county or municipality, or by the Maryland government.
Next Steps for Installing Solar in Easton
Nationwide solar energy use has significantly increased in the last 15 years, in part thanks to the increase in availability of solar incentives. You may get these incentives from your local utility company, the federal government or the Maryland government. Speaking with your local Easton solar panel installer is the right first step towards getting the most money possible when you switch to solar energy.
EcoWatch's Easton, MD Solar Incentives FAQs
How do 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.
- within the date range specified by a particular incentive.
Specific incentives, including those given out by the Maryland government or by your county/municipality, could have additional qualifications. Talk to your local Easton solar installer to discover what incentives your project will qualify for.
How much can I save on my electric bill annually if I install solar panels on my house in Easton?
After adding solar panels to your Easton home, you can anticipate savings of around $887.86 per year, or around $16,869.35 over the next 20 years.
What are some of the environmental benefits of switching to solar energy?
You can decrease your carbon footprint by 300 pounds of CO2 a year by switching to solar panels. This adds up to approximately 6,000 pounds over 20 years. Solar is also a renewable energy source, which means that switching your home over lessens the drain on our planet's resources.
Can I use a combination of multiple types of renewable energy to power my home?
You can power your home with multiple types of renewable energy, or a combination of renewable and non-renewable energy. Be sure to discuss your ideas with your local Easton solar installation expert. They can help you as you plan for your project and give you an understanding of various incentives that you might or might not 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.