2024 Solar Incentives Guide for Kearney, MO - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Kearney.
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 Kearney?
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
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
Platte-Clay Electric Cooperative - Residential and Commercial Energy Efficiency Rebates
Room Air Conditioners: $50
Geothermal Heat Pump: $750/ton new installation; $150/ton for replacement
Dual Fuel Heat Pump: $150/ton
Mini Split Heat Pump: $150/ton
Local Option - Clean Energy Development Boards
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
The phrase "solar incentives" refers broadly to financial incentives designed to encourage increased use of renewable energy by making the installation and use of solar panels more affordable. Incentives can include things like discounts, cash back or monthly utility bill credits. Some incentives are offered by the federal government, while others are offered by the Missouri government or by your utility company, county or municipality. Some solar incentives you might qualify for are:
- Tax Exemptions: Your solar panels could 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 home.
- Tax Credits: Tax credits lower, dollar-for-dollar, the total amount of tax you owe the government. These are different from tax deductions.
- Rebates: Some solar companies will help you claim a rebate, or partial refund of your purchase, for your solar system. Counties or states will also offer limited-time rebates at various times. The value of a rebate will usually come off your total price before any tax credits are calculated.
- Net Metering: Be sure to talk to your Kearney utility company about signing a net metering agreement. This allows 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.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 probably the first thing that comes to mind when thinking about solar incentives. The Federal Solar Investment Tax Credit, or ITC, is likely the best-known federal solar incentive. The ITC allows you to claim a tax credit for a predetermined percentage of the cost of your solar system.
The ITC originally covered 30% of the cost of solar panel installation, and has fluctuated slightly over the last few years between 26-30%. The percentage you qualify for will depend on when your solar system was installed. The total cost of installation includes the panels themselves as well as the cost of equipment, labor and accessories. There is no maximum claim amount. The ITC can be applied to solar systems installed after January 1, 2006, on your primary or secondary residence. The residence must be in the United States and owned by you.
To more fully understand how the ITC will apply to your situation, speak to your local Kearney solar panel installer and request more information.
In August 2022, the ITC (now called the Clean Energy Credit) was expanded and extended by the passing of the Inflation Reduction Act. The Clean Energy Credit re-raises the credit up to 30% for solar installation projects started after January 1, 2022, and completed by the end of 2032. After this, the credit percentage will be reduced slightly each year until the end of the program in 2035. Starting in 2023, the program expansion will also make it easier to get credit for energy storage systems.
Click here to learn more about the new Inflation Reduction Act. The easiest way to learn more about how the new Clean Energy Credit might apply to you is to get in touch with your local Kearney solar panel installation expert.
State & Local Solar Incentives
Some solar incentives are often also provided by state and local governments. Similar to federal incentives, these may include tax credits, rebates and more. These solar incentives — which might be handled by your county or municipality, or by the state of Missouri — may be offered for only a limited time, or on an ongoing basis.
Next Steps for Installing Solar in Kearney
Solar incentives can be offered by your local utility company, the Missouri government or the federal government. The variety of available solar incentives has helped nationwide use of solar energy increase greatly in the last 15 years. Speak with your local solar panel installer today to learn more and to save the most money possible on a solar system for your Kearney home.
EcoWatch's Kearney, MO Solar Incentives FAQs
If I already have solar panels, can I still claim incentives?
An excellent idea would be to talk to a representative from the company that installed your solar system – or reach out to a local Kearney solar installer — to learn about which incentives you might qualify for. If your solar panels were installed after January 1, 2022, you likely qualify for the recently increased 30% tax credit under the Inflation Reduction Act. Solar systems installed between 2006 and 2021 may qualify for a tax credit of 26-30%.
What are the environmental benefits of switching to solar?
Solar energy is a renewable energy source — by switching where you get your energy, you help reduce the strain on our planet's resources. Solar panels can also lower the CO2 emissions from your home by 500 pounds annually, or roughly 13,000 pounds in 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), is scheduled to end on January 1, 2035. Currently set at 30%, the credit will drop to 26% in 2033 and to 22% in 2034.
Can I use a combination of 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 wind and solar. You can also combine renewable energy generation with a backup source of non-renewable energy. Be sure to discuss your plan with your local Kearney solar panel installer, to get an understanding of what will be needed 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.