2023 Solar Incentives Guide for Kirkwood, MO - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Kirkwood.
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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Updated March 14, 2023
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What Solar Tax Credits, Incentives, and Rebates are Available in Kirkwood?
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
Local Option - Clean Energy Development Boards
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
Solar incentives are meant to encourage homeowners to switch their home over to renewable energy by providing incentives that lower the financial burden of solar panel installation and use. Different kinds of incentives, like cash back, discounts or monthly utility bill credits, may 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. Some solar incentives you might qualify for are:
- Net Metering: Net metering becomes relevant once your solar system is up and running. If you have a net metering agreement with your Kirkwood utility company, it will subtract the value of the excess energy your solar system produces from your monthly utility bill. In some places, this credit is dollar-for-dollar, while in others you might get refunded a percentage of the value.
- Rebates: Some solar companies will help you claim a rebate, or partial refund of your purchase, for your solar panels. Counties or states will also offer limited-time rebates at various times. The value of a rebate will usually be deducted from your total price before any tax credits are calculated.
- Tax Exemptions: These can come in the form of property tax exemptions, which let you ignore the value added by your solar panels when calculating the taxes you pay on your house. They may also include exemptions on sales tax at the time of purchase.
- Tax Credits: Tax credits reduce, dollar-for-dollar, how much income tax you owe the government. Tax credits are different from tax deductions.
Federal Solar Incentives
When someone says "solar incentives," you likely think of federal incentives first. An incentive 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 the cost of your solar system.
The ITC can be applied to solar panels installed after January 1, 2006 on a primary or secondary residence that you own in the United States. Initially, the credit applied to 30% of the total cost — for panels, equipment, labor and accessories — although the percentage may range from 26-30%, depending on when your solar project was undertaken. There is no cap on the claim amount.
Your local Kirkwood solar panel installer can give you more information about the ITC and how it may apply to your situation.
The ITC was both renewed and expanded by the passage of the Inflation Reduction Act in August 2022. It's also now called the Clean Energy Credit. The Clean Energy Credit lasts until 2035. Solar installation projects started after January 1, 2022 and completed by the end of 2032 may qualify for a 30% tax credit. The amount will then decrease slightly on a yearly basis until the end of the current program. The program expansion also makes claiming credit for energy storage systems easier than ever before, beginning in 2023.
More information about the new Inflation Reduction Act can be found here. Your local Kirkwood 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 are often also provided at the state and local level. Similar to federal incentives, these could include rebates, tax credits and more. Some incentives are ongoing, while others may only be available for a limited time. These incentives may be offered by your county or municipality, or by the Missouri government.
Next Steps for Installing Solar in Kirkwood
There are a number of different solar incentives: those offered by the federal government, those offered by the Missouri government and those offered by local utility companies, to name a few. Solar energy utilization has increased enormously in the last 15 years, partially due to these incentives. Speak with your local solar panel installer today to learn more and to save as much money as possible on a solar system for your Kirkwood home.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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
EcoWatch's Kirkwood, MO Solar Incentives FAQs
How can I find out if I qualify for certain solar incentives?
It's a smart idea to get in touch with your local Kirkwood solar installer for a better understanding of which incentives your project will qualify for. Usually, solar incentives apply to new solar systems installed on a property you own (in the U.S.) between the dates specified by the incentive. Some incentives, like those given by the state of Missouri, may have additional requirements.
How much can I save on my electric bill annually if I install solar panels on my house in Kirkwood?
On average, Kirkwood homeowners who install solar panels save around $863.10 per year, or around $16,398.85 over 20 years after making the switch.
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 Kirkwood's top solar panel companies.
If I trade in my appliances for ones that utilize solar energy, are there any credits that I can claim?
Under the new Inflation Reduction Act, there are several 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 use both solar and another type 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 plan with your local Kirkwood solar installer. They can help you with the plan for your project and educate you on the various incentives that you will or won't 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.