2023 Solar Incentives Guide for Concord, MO - Tax Credits & Rebates

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

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

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

Why you can trust EcoWatch

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 Concord?

Wabash Valley Power Association (28 Member Cooperatives) - Residential Energy Efficiency Program

Incentive Type:
Rebate Program
Dual Fuel Heat Pump: $500
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

Incentive Type:
Rebate Program
$0.25 per watt for systems operational between July 1, 2019, and December 31, 2023

Solar Property Tax Exemption

Incentive Type:
Property Tax Incentive
100% exemption

Ameren Missouri (Electric) - Residential Heating and Cooling Energy Efficiency Rebate Program

Incentive Type:
Rebate Program
Air-Source Heat Pump: $500-$900
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

Incentive Type:
PACE Financing
Financing contracts limited to 20 years or less; improvements must display a positive economic benefit over the life of the contract.

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/


The phrase "solar incentives" covers a range of financial incentives implemented to make installing and using solar panels more affordable. This is done to encourage people to switch to renewable energy. Different kinds of incentives, including cash back, discounts or credit towards your monthly utility bill, might be available to you. Some incentives may be handled by the state of Missouri, by your utility company or by county or municipality, while others are federal. Types of solar incentives might include:

  • Net Metering: Net metering becomes relevant once your solar panels are up and running. If you've signed a net metering agreement with your Concord utility company, the company will subtract the value of the excess energy produced by your solar system from your monthly utility bill. In some locations, this is a dollar-for-dollar credit, while in other areas you might make back a percentage of the value.
  • Rebates: A rebate is a partial refund given after you've purchased your solar system. Rebates might be offered by your local utility company, your state or your county. The discount that rebates offer is normally applied to the price of solar panels before tax credits are calculated.
  • Tax Exemptions: Tax exemptions can come in one of two forms. The first is sales tax exemption, which is applied when you purchase solar panels. The second is property tax exemption, which allows you to exclude the value added by your solar system when paying property tax on your home.
  • Tax Credits: Unlike tax deductions, tax credits reduce, dollar-for-dollar, the amount of income tax that you owe the government.

Federal Solar Incentives

Federal solar incentives are probably the first thing that comes to mind when you think about solar incentives. The solar incentive that you're most likely to have heard of is the Federal Solar Investment Tax Credit (ITC), which provides a credit on your taxes equal to a predetermined percentage of the cost of your solar system.

The ITC applies towards solar systems installed after January 1, 2006 and allows you to deduct from your taxes a percentage of the total cost of solar panels, accessories, labor 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 certain projects may qualify for only 26%, depending on the details. There is no maximum claim amount.

Wondering how the ITC applies to your specific situation? Reach out to your local Concord solar panel installation expert to get more information.

In August 2022, the Inflation Reduction Act laid out new provisions for the ITC, now titled the Clean Energy Credit. With the new provisions, solar installation projects that are completed between 2022 and 2032 might qualify for a 30% tax credit. This percentage will then decrease slightly each year until the end of the current Clean Energy Credit in 2035. Starting in 2023, it will also be easier to get credits for energy storage systems under the new laws.

Click here to learn more about the new Inflation Reduction Act. The best way to learn more about how the new Clean Energy Credit applies to you is to reach out to your local Concord solar panel company with your questions.

State & Local Solar Incentives

Some solar incentives may be provided at the state and local level. Similar to federal incentives, these can include tax credits, rebates and more. Incentives may be handled by your county or municipality, or by the state of Missouri. Some incentives might only be available for a limited time, while others are ongoing.

Next Steps for Installing Solar in Concord

Nationwide solar energy use has gone up tremendously in the past 15 years, in part thanks to the growth in the number of solar incentives. You can obtain these incentives from the federal government, the Missouri government or your local utility company. Your local Concord solar panel installation company can provide you with more details about which incentives you should apply for, and get you on track to switch to renewable energy today.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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 Concord, MO Solar Incentives FAQs

How can I learn if I qualify for specific solar incentives?

In most cases, solar incentives apply to:

  1. a new solar system
  2. installed on property that you own
  3. within the U.S.
  4. between the dates specified by a particular incentive.

Specific incentives, including those given out by the Missouri government or by your county/municipality, may have additional qualifications. Get in touch with your local Concord solar installer to find out what incentives your project may qualify for.

What are some environmental benefits of installing solar panels on my house?

You can reduce your carbon footprint by 500 pounds of CO2 annually when you install solar panels. This adds up to around 13,000 pounds in 20 years. In addition, solar power is a renewable energy source, meaning that making the switch reduces the drain on our planet's resources.

If I change out my appliances for ones that use solar energy, are there any incentives I can claim?

The new Inflation Reduction Act creates a variety of new financial incentives for making eco-friendly improvements to your home. More details regarding these incentives, including information about incentives for purchasing new appliances, can be found here.

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

The order your incentives will be applied in might vary depending on which incentives you receive but usually yes, you can claim multiple types of incentives for your solar project. Get in touch with your solar installer or a local tax professional to make sure you are claiming all the incentives you are eligible for and applying them in the correct order.

Can I use solar and another type of renewable energy in combination to power my home?

Yes, you can employ multiple types of renewable energy to power your home — for example, a combination of geothermal and solar. You can also use both renewable energy sources and a non-renewable backup source of energy. Make sure that you discuss your plan with your local Concord solar panel installer, to make sure you know what you'll need and what types of incentives you may or may 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.

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