2024 Solar Incentives Guide for Ocean Pines, MD - Tax Credits & Rebates

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

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.
Get a free quote from one of our trusted Ocean Pines solar installers to see how much you can save.

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated June 24, 2024

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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 Ocean Pines?

Residential Clean Energy Rebate Program

Incentive Type:
Rebate Program
PV: $1,000/project (flat per installation/household incentive)
SWH: $500/project (flat per installation/household incentive)
New GHC: $3,000/project
GHC Replacement: $500/project

Solar Renewable Energy Certificates (SRECs)

Incentive Type:
Solar Renewable Energy Credit Program
Varies based on market conditions

Sales and Use Tax Exemption for Residential Solar and Wind Electricity Sales

Incentive Type:
Sales Tax Incentive
100% exemption from sales and use tax

Property Tax Exemption for Solar and Wind Energy Systems

Incentive Type:
Property Tax Incentive
100% real property tax exemption for solar and wind energy property

Clean-Burning Wood Stove Grant Program

Incentive Type:
Rebate Program
Stick Burning Stove: $500
Pellet Burning Stove: $700

Wood Heating Fuel Exemption

Incentive Type:
Sales Tax Incentive
100% exemption

Local Option - Property Tax Credit for High Performance Buildings

Incentive Type:
Property Tax Incentive

Local Option - Property Tax Credit for Renewables and Energy Conservation Devices

Incentive Type:
Property Tax Incentive
Varies by jurisdiction; credit may be available for up to 3 years.

Residential/Community Wind Grant Program

Incentive Type:
Rebate Program
Residential: $4,000/kW of normalized capacity at 11 m/s
Community: $1000/kW - $4000/kW, depending on the system capacity

Delmarva Power - Residential Energy Efficiency Rebate Program

Incentive Type:
Rebate Program
Lighting
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

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/


Solar incentives are intended to make renewable energy usage more affordable through financial incentives for individuals who install solar panels on their homes. Different types of incentives, such as discounts, cash back or monthly utility bill credits, may be available to you. Some incentives may be offered by the Maryland government, by your utility company or by county or municipality, while others are federal. You might qualify for any of the following types of solar incentives:

  • Rebates: A solar rebate is a partial refund given after you've purchased your solar panels. Rebates may be offered by your local utility company, your county or your state. The rebates are usually applied before calculating tax credits.
  • Tax Credits: These credits are dollar-for-dollar reductions (not deductions) in the amount of tax that you owe the federal government.
  • Tax Exemptions: Your solar panels may qualify for exemptions on both sales and property tax. Sales tax exemptions are applied at the time of purchase. Property tax exemptions let you ignore the value added by your solar panels when you are calculating property taxes on your house.
  • Net Metering: Net metering is an incentive you can get once your solar system is up and running. If you've signed a net metering agreement with your Ocean Pines utility company, they will subtract the value of the excess energy your solar system produces from your monthly utility bill. In some places, this is a dollar-for-dollar credit, while in other places you may make back a percentage of the value.
  • Solar Renewable Energy Certificate (SREC): SRECs and other performance-based incentives are usually handled by your state government. Once your solar panel system meets the qualification threshold (usually a small amount of energy production), you can receive SRECs that can be sold to your utility company or other buyers. The money you make is usually considered part of your taxable income.

Best for Leasing

Sunrun

★★★★★
4.0
  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

Solar Veteran

Trinity Solar

★★★★★
4.0
  • Many financing options
  • Family-owned and -operated
  • Makes charitable contributions
  • Limited service area
  • Relatively short workmanship warranty

Best Technology

Tesla Energy

★★★★★
3.2
  • 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

When thinking about solar incentives, you probably think of federal incentives first. The Federal Solar Investment Tax Credit, or ITC, is the most commonly known federal solar incentive. The ITC allows you to claim a tax credit for a specific percentage of the cost of your solar system.

The ITC can be credited towards the value of a solar system installed on your primary or secondary residence in the United States. The solar system has to have been installed after January 1, 2006, on a property owned by you for you to claim the credit. Initially, the ITC applied to 30% of all costs (panels, labor, accessories and equipment), although the amount has fluctuated over the years between 26-30%. The installation date of your solar system will determine what percentage you are eligible for. There is no cap on the amount you can claim.

Your local Ocean Pines solar panel installation expert can provide more information about the ITC and how it might apply to your situation.

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 re-raises the credit up to 30% for solar installations undertaken between January 1, 2022, and December 31, 2032. After this, the percentage will decrease slightly each year until the end of the program in 2035. Starting in 2023, the program expansion will also make claiming credit for energy storage systems easier than ever before.

More information about the new Inflation Reduction Act can be found here. Your local Ocean Pines solar panel installation experts 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. Like with federal incentives, these can include tax credits, rebates and more. Some incentives are ongoing, while others are offered for only a limited time. Your local solar incentives might come from your county or municipality, or from the Maryland government.

Next Steps for Installing Solar in Ocean Pines

The nationwide use of solar energy has increased enormously in the past 15 years, in part due to the increase in availability of solar incentives. You may get these incentives from the Maryland government, the federal government or your local utility company. Speaking with your local Ocean Pines solar panel installation expert is a great first step towards getting the most money possible when you switch to solar energy.

EcoWatch's Ocean Pines, MD Solar Incentives FAQs

If I already have a solar system installed on my house, can I still claim incentives?

If your solar system was installed after January 1, 2022, you may qualify for the newly increased 30% tax credit under the Inflation Reduction Act. If you installed your system between 2006 and 2021, you might qualify for a tax credit between 26% and 30%, depending on the exact installation date. Speaking with the company that installed your solar system, or any local Ocean Pines solar installer, can help you understand what incentives you might want to apply for.

How much will a solar system save me on my electric bill in Ocean Pines annually?

Generally, homeowners in Ocean Pines who install solar panels save approximately $990.50 per year, or about $18,819.53 over 20 years after they make the switch.

Can I receive incentives both towards the initial cost of solar panels, and later as reimbursement?

Yes, you can claim both rebates and tax credits towards the cost of solar panels. Depending on which incentives you are receiving, they may apply in a different order. Be sure to speak with your solar installer or a local tax professional to ensure that you are claiming the correct incentives and that you're getting the most money possible.

Can I use solar and another type of renewable energy in combination 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. Be sure to talk through your plan with your local Ocean Pines 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.

Can I get any financial incentives when I add solar panels to a vacation home, rental property or commercial property?

While we recommend talking to your local solar installer and/or tax professional to best understand what solar incentives apply to you, many incentives can be claimed on a second home, so long as that home is in the United States and owned by you. There may be additional incentives available specifically for commercial properties, depending on the specifics.

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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