2024 Solar Incentives Guide for Smithville, MO - Tax Credits & Rebates

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

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 Smithville solar installers to see how much you can save.

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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 Smithville?

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

Platte-Clay Electric Cooperative - Residential and Commercial Energy Efficiency Rebates

Incentive Type:
Rebate Program
Business Lighting Improvements: Up to $30,000 or 40%
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

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/


Solar incentives are designed to encourage people to switch their home over to renewable energy by providing financial incentives meant to lower the burden of solar panel installation and use. Different kinds of incentives, such as cash back, discounts or monthly utility bill credits, might be available to you. Certain incentives may be offered by the state of Missouri, by your utility company or by county or municipality, while others are federal. Types of solar incentives might include:

  • Tax Exemptions: Your solar system may qualify for exemptions on both sales and property tax. Sales tax exemptions are effective at the time of purchase. Property tax exemptions allow you to ignore the added value of the solar panels when you are calculating property taxes on your house.
  • Rebates: Solar companies may help you claim a rebate, or partial refund after purchase, for your solar panels. States or counties will also sometimes offer limited-time rebates. The value of a rebate will usually be deducted from your total price before tax credits are calculated.
  • Net Metering: Net metering is an incentive you can get after your solar system is up and running. If you have in place a net metering agreement with your Smithville utility company, it 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 areas you may make back a percentage of the value.
  • Tax Credits: Unlike tax deductions, tax credits are dollar-for-dollar reductions in the amount of income tax that you owe the government.

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

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 people think of solar incentives, federal incentives are likely the first thing that comes to mind. A federal incentive many people are likely familiar with is the Federal Solar Investment Tax Credit (ITC). This incentive is a tax credit for a specific percentage of the cost of your solar system.

The ITC applies to solar panels installed after January 1, 2006, on a primary or secondary residence in the United States that you own. The credit initially covered 30% of the total cost – for panels, accessories, labor and equipment – although that amount may range from 26-30%, depending on when your solar system was installed. There is no cap on the amount you can claim.

Wondering how the ITC applies to your specific situation? Reach out to your local Smithville solar panel installer to get more information.

In August 2022, the ITC (now called the Clean Energy Credit) was bolstered by the passage of the Inflation Reduction Act. The new Clean Energy Credit extends until 2035. You can now receive a 30% credit for solar systems installed between 2022 and 2032. This new credit will then decrease annually until it expires. The program expansion also makes claiming credit for energy storage systems easier than ever before, starting in 2023.

Click here to learn more about the new Inflation Reduction Act. The best way to learn more about how the new Clean Energy Credit might apply to you is to speak with your local Smithville solar panel company directly.

State & Local Solar Incentives

Rebates, tax credits and more can be provided at multiple levels. Along with federal solar incentives, there are often state and local ones as well. These incentives might be handled by the Missouri government, or by your county or municipality. Certain incentives are ongoing, while others are available for a limited time.

Next Steps for Installing Solar in Smithville

The large number of solar incentives available has helped tremendously increase the nationwide adoption of solar energy over the past 15 years. You might qualify for solar incentives from your local utility company, the Missouri government or the federal government. It is a good idea to talk to your local Smithville solar installation company to learn more about these incentives and to make sure that you're getting the largest number possible for your solar system.

EcoWatch's Smithville, MO Solar Incentives FAQs

Who installs solar panel systems near me?

To discover the top solar panel installers near you, read our article on Smithville's best solar panel companies.

What are the environmental benefits of switching to solar?

You can decrease your carbon footprint by 450 pounds of CO2 a year by installing solar panels. This adds up to roughly 9,000 pounds over 20 years. In addition, solar power is a renewable energy source, which means that switching your home over reduces the drain on our planet's resources.

If I trade in my appliances for ones that utilize solar energy, are there any benefits that I can claim?

The recently passed Inflation Reduction Act introduces a number of incentives designed to reward homeowners for making eco-friendly upgrades. Some of these incentives include rebates and tax credits for installing new electric appliances. You can find more details about these incentives here.

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 your solar panels. Depending on which incentives you are claiming, they may apply in a different order. Make sure that you speak with your solar installer or a local tax professional to ensure that you are claiming incentives correctly and getting the most money possible.

Can I use multiple types of renewable energy to power my home?

Yes, you can use 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 non-renewable backup source of energy. Be sure to discuss the details of your plan with your local Smithville solar installation expert, to get an understanding of what will be needed and what kinds 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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