2023 Solar Incentives Guide for Clinton, MO - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Clinton.
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 March 14, 2023
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What Solar Tax Credits, Incentives, and Rebates are Available in Clinton?
Wabash Valley Power Association (28 Member Cooperatives) - Residential Energy Efficiency Program
Variable Speed Pool Pump: $250
Air-Source Heat Pump: $250 - $750
Geothermal Heat Pump: $1,500
Heat Pump Water Heater: $400/unit
HVAC: Varies depending on ZIP code. See program website
Empire District Electric - Solar PV Rebates
Solar Property Tax Exemption
Ameren Missouri (Electric) - Residential Heating and Cooling Energy Efficiency Rebate Program
Ductless Air-Source Heat Pump: $300-$500
Dual Fuel Heat Pump: $175-$200
Ground Source Heat Pump: $800-$2,000
Central Air Conditioner: $300-$500
Electronically Commutated Motor (ECM): $50-$100
Air Conditioner/Heat Pump Tune-Up: $75
Local Option - Clean Energy Development Boards
Southwest Electric Cooperative - Energy Efficiency Rebate Program
Ground-Source/Geothermal Heat Pump (Replacement Units): $200/ton
Floor insulation with installation of a geothermal heat pump: 50% of cost, up to $500
Dual Fuel Heat Pump: $150/ton
Mini Split Heat Pump: $150/ton
VFD for HVAC: $50/HP, up to 50% of total unit cost
Heat Pump Water Heater: 50% of cost, up to $500
Programmable Timer for Engine Block Heater: $15/timer, up to 50% of total unit cost
Commercial High Efficiency Motor: 50% of total cost
Windows/Room AC: $50
Energy Audit: 50% of cost, up to $500
Federal Residential Renewable Energy Tax Credit
Solar incentives are designed to make renewable energy usage more affordable via financial incentives to help people install solar panels on their homes. You might qualify for different kinds of incentives, such as cash back, discounts or monthly utility bill credits, depending on your situation. Certain incentives come from your specific utility company, county or municipality, some from the state of Missouri and others from the federal government. Some broad categories of solar incentives include:
- Tax Exemptions: Tax exemptions can come in two forms. First, there is sales tax exemption, applied when you purchase solar panels. The second is property tax exemption. This allows you to exclude the value added by your solar system when paying property tax on your home.
- Net Metering: Net metering becomes relevant after your solar panels are up and running. If you've signed a net metering agreement with your Clinton utility company, the company will subtract the value of the excess energy your solar system produces from your monthly utility bill. In some areas, this is a dollar-for-dollar credit, while in other places you might be refunded a percentage of the value.
- Tax Credits: These credits are dollar-for-dollar reductions (not deductions) in how much income tax you owe the government.
- Rebates: Rebates, or cash back after a purchase, are usually given prior to any solar tax credits being calculated. Rebates might be offered by your local utility company, by your county or by your state.
Federal Solar Incentives
Federal solar incentives are likely the first thing that you think of when thinking about solar incentives. One of the incentives that most people are likely familiar with is the Federal Solar Investment Tax Credit (ITC). This incentive is a tax credit for a predetermined percentage of your solar system's cost.
The ITC can be applied to solar systems installed after January 1, 2006 and allows you to deduct from your taxes a percentage of the total cost of solar panels, labor, accessories and equipment. This credit can be claimed on solar panels installed on a primary or secondary residence that you own in the United States. The original amount you could claim was 30% of the total cost, although depending on when the project was completed, your credit may range from 26-30%. There is no maximum amount you can claim.
Your local Clinton solar panel installation expert can give you more information about the ITC and how it might apply to your situation.
In August 2022, the ITC (now referred to as the Clean Energy Credit) was expanded and extended by the passage of the Inflation Reduction Act. The new Clean Energy Credit extends until 2035. Homeowners can now apply for a 30% credit for solar systems installed between January 1, 2022 and December 31, 2032. The credit will then decrease annually until its expiration. Starting in 2023, it will also be easier to claim credits for energy storage systems under the new laws.
More information about the new Inflation Reduction Act can be found here. To best understand how the new Clean Energy Credit will apply to you, reach out to your local Clinton solar installers.
State & Local Solar Incentives
Rebates, tax credits and more might be claimed at multiple levels. Along with federal solar incentives, there are often state and local ones as well. Certain incentives are ongoing, while others are only available for a limited time. These incentives may be given by your county or municipality, or by the Missouri government.
Next Steps for Installing Solar in Clinton
Solar energy use nationwide has increased enormously 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 Missouri government or the federal government. Speaking with your local Clinton solar panel installer is a great first step towards getting all the incentives you qualify for when you switch to solar energy.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
- 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 Clinton, MO Solar Incentives FAQs
How can I learn if I qualify for specific solar incentives?
It's a smart idea to get in touch with your local Clinton solar installer to get an understanding of which incentives your project will qualify for. Generally, solar incentives apply to new solar panel systems installed on property you own (in the U.S.) within a specified date range. Some incentives, like those offered by the government of Missouri, may have additional requirements.
What are the highest-rated solar panel installation companies near me?
To discover the top solar panel installation companies near you, take a look at our article on the top solar companies in Clinton.
What are some environmental benefits of installing solar panels on my home?
Solar energy is a renewable energy source — by changing where you get your energy, you can help lessen the strain on our planet's resources. Solar panels can also reduce the CO2 emissions from your home by 500 pounds annually, or roughly 13,000 pounds over 20 years.
When does the federal solar tax credit end?
The Clean Energy Credit (previously referred to as the federal solar tax credit, or the ITC), currently ends on January 1, 2035. Currently set at 30%, the credit will drop to 26% in 2033 and to 22% in 2034.
Can I qualify for incentives both towards the up-front cost of solar panels, and later as reimbursement?
The order your incentives will be applied in might vary depending on which incentives you are claiming but usually yes, you can receive multiple types of incentives for your solar project. Talk with your solar installer or a local tax professional to confirm you are claiming all possible incentives and applying them in the correct order.
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.