2024 Solar Incentives Guide for Gautier, MS - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Gautier.
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 Gautier solar installers to see how much you can save.
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Updated February 03, 2024
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What Solar Tax Credits, Incentives, and Rebates are Available in Gautier?
Coast Electric Power Association - Comfort Advantage Home Program
Comfort Advantage Basic: $300
Comfort Advantage Plus: $500
Comfort Advantage Apartment: $200/unit
Geothermal Heat Pumps add-on: $500
Per additional unit of Heat Pump: $150
Existing Homes
Geothermal Heat Pump (13 SEER or higher): $400
Per additional unit of Heat Pump: $150
Singing River Electric Power Association - Comfort Advantage Home Program
Comfort Advantage Home: $300
Comfort Advantage Plus Home: $500
Additional incentive for a qualified geothermal HVAC system: $1000
Existing Homes
Heat Pump: $400
Geothermal Heat Pump: $900
Additional Heat Pump Units: $150/unit
Pearl River Valley Electric Power Association - Residential Energy Efficiency Rebate Program
Heat Pump: $400
Electric Water Heater: $150
Existing Homes
Heat Pump: $400
Gas to Electric Water Heater Conversion: $150
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
Solar incentives help mitigate the cost of installing solar panels on your home. Financial incentives like these are intended to encourage more homeowners to switch their home over to renewable energy. You might be eligible for various kinds of incentives, such as discounts, cash back or credit towards your monthly utility bill, depending on your situation. Certain incentives come from your specific utility company, county or municipality, some from the Mississippi government and others from the federal government. Types of solar incentives might include:
- Tax Exemptions: Sales tax exemptions are applied at the point of sale for your solar system. Property tax exemptions let you ignore the value added by your solar system when calculating the amount of property tax you need to pay.
- Net Metering: Net metering becomes relevant after your solar panels are up and running. If you've signed a net metering agreement with your Gautier utility company, they will subtract the value of the excess energy produced by your solar system from your utility bill each month. In some locations, this credit is dollar-for-dollar, while in others you might make back a percentage of the value.
- Rebates: Solar companies may help you claim a rebate, or partial refund of your purchase, for your solar system. States or counties 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 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
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 incentives are the kind of incentives that you are most likely to have some familiarity with. You've likely heard of the Federal Solar Investment Tax Credit, or ITC. This incentive is a tax credit that reduces your taxes by a certain percentage of the money you spend installing solar panels.
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, equipment and accessories. This credit can be claimed on solar panels installed on a primary or secondary residence that you own in the United States. Originally, you could claim 30% of the total cost, although certain projects may qualify for only 26%, depending on the details. There is no maximum amount you can claim.
To find out exactly how much money the ITC could save you, speak with your local Gautier solar panel installation expert.
The Inflation Reduction Act, passed in August 2022, added more provisions to the ITC (as well as renaming it to the Clean Energy Credit). 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 2032, the credit percentage will decrease slightly each year until the program expires in 2035. Beginning in 2023, it will also be easier to claim credits for energy storage systems with the new act.
More information about the new Inflation Reduction Act can be found here. The best way to fully understand how the new Clean Energy Credit might apply to you is to speak with your local Gautier solar panel installers directly.
State & Local Solar Incentives
Some solar incentives are often also provided at the state and local level. Similar to federal incentives, these might include rebates, tax credits and more. Incentives may be handled by your county or municipality, or by the state of Mississippi. Some incentives are available for only a limited time, while others are ongoing.
Next Steps for Installing Solar in Gautier
The large number of solar incentives available has enormously increased the adoption of solar energy nationwide over the last 15 years. You may receive solar incentives from your local utility company, the federal government or the Mississippi government. It is a good idea to talk to your local Gautier solar installer for more information about these incentives and to be sure that you're getting all the money you can for your solar system.
EcoWatch's Gautier, MS Solar Incentives FAQs
How much will a solar system save me annually on my electric bill in Gautier?
On average, homeowners in Gautier who install solar panels save approximately $1,092.16 per year, or about $20,751.07 over 20 years after they make the switch.
What are the top solar panel installation companies near me?
To find a top-rated solar panel installer, check out our guide to the top solar companies in Gautier.
What are the environmental benefits of switching to solar energy?
You can reduce your carbon footprint by 450 pounds of CO2 a year by switching to solar panels. This adds up to around 9,000 pounds in 20 years. In addition, solar power is a renewable energy source, meaning that making the switch lessens the drain on our planet's resources.
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 go over your plan with your local Gautier solar installer. They can help you plan your project and also help you understand the various incentives that 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.