2025 Solar Incentives Guide for Moss Point, MS - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Moss Point.
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 Moss Point?
Singing River Electric Power Association - Comfort Advantage Home Program
Comfort Advantage Home: $300
Comfort Advantage Plus Home: $500
Additional incentive for a qualifiedgeothermal HVAC system: $1000
Existing Homes
Heat Pump: $400
Geothermal Heat Pump: $900
Additional Heat Pump Units: $150/unit
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
The term "solar incentives" includes a wide range of financial incentives designed to make installing and using solar panels more affordable. This is done to encourage people to switch to renewable energy. Solar incentives could include cash back, upfront discounts or monthly credits towards your utility bill. Some incentives are offered by the federal government, some by the state of Mississippi and some by your utility company, county or municipality. You might qualify for any of the following types of solar incentives:
- Tax Exemptions: Sales tax exemptions are applied at the time of purchase for your solar panels. Property tax exemptions let you ignore the value that your solar panels add when you calculate how much property tax you need to pay on your house.
- Tax Credits: Tax credits lower, dollar-for-dollar, the amount of income tax you owe the government. These are different from tax deductions.
- Rebates: Rebates, or partial refunds after a purchase, are typically applied prior to any solar tax credits being calculated. These rebates may be provided by your local utility company, by your state or by your county.
- Net Metering: Be sure to talk to your Moss Point 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 generated by your solar panels. You may receive either a dollar-for-dollar credit or a percentage of the value.
Federal Solar Incentives
When thinking about solar incentives, federal incentives might be the first thing that comes to mind. The solar incentive that you're most likely to have heard of is the Federal Solar Investment Tax Credit (ITC), which gives you a credit on your taxes equal to a certain percentage of the cost of your solar system.
The ITC applies to solar systems installed after January 1, 2006, on a primary or secondary residence in the United States that you own. Originally, the tax credit was for 30% of the total cost – for panels, equipment, accessories and labor – although that amount may range from 26-30%, depending on the installation date of your solar system. There is no cap on the amount you can claim.
To best understand how the ITC might apply to your situation, reach out to your local Moss Point solar panel installer and ask for more information.
In August 2022, the ITC (now referred to as the Clean Energy Credit) was bolstered by the passage of the Inflation Reduction Act. Homeowners are now eligible for a credit equal to 30% of the total costs of solar system installation for projects started after January 1, 2022, and completed before the end of 2032. The percentage will then begin to decrease on a yearly basis until the Clean Energy Credit ends in 2035. Starting in 2023, the expansion will also make claiming credit for energy storage systems easier than ever before.
Click here to learn more about the new Inflation Reduction Act. Your local Moss Point solar panel installer can answer any questions you have and explain how the new Clean Energy Credit will apply to you.
State & Local Solar Incentives
Some solar incentives may be offered at the local or state level. Like with federal incentives, these might include rebates, tax credits and more. Some incentives are offered for only a limited time, while others are ongoing. Your local incentives might come from your county or municipality, or from the Mississippi government.
Next Steps for Installing Solar in Moss Point
The expanding number of available solar incentives has enormously increased the nationwide adoption of solar energy over the past 15 years. You can get solar incentives from the federal government, the Mississippi government or from your local utility company. Speak with your local solar panel installer today to find out more information and to save as much money as possible on solar panels for your Moss Point home.
EcoWatch's Moss Point, MS Solar Incentives FAQs
How much can I save annually on my electric bill if I add solar panels to my Moss Point home?
Once you add solar panels to your house in Moss Point, you can expect to save about $1,102.76 per year, or around $20,952.39 over the next 20 years.
When does the federal solar tax credit end?
The Clean Energy Credit (previously called the federal solar tax credit, or ITC), currently ends on January 1, 2035. Currently set at 30%, the credit will drop to 26% in 2033 and to 22% in 2034.
I want to switch my appliances out for ones that are more energy-efficient. Are there any benefits I can get?
The new Inflation Reduction Act provides a number of incentives meant to reward homeowners who make eco-friendly upgrades. Some incentives include rebates and tax credits for installing new electric appliances. You can find more details about these incentives 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 may 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 confirm you are claiming all the incentives you're eligible for and applying them in the correct order.
What if I add solar panels to a rental property, vacation home or commercial property? Do I still qualify for incentives?
While we recommend getting in touch with your local solar installer and/or tax professional to better understand what solar incentives apply to you, many apply to a second home, provided that it is in the United States and owned by you. There may be additional incentives available for commercial properties specifically, depending on the specifics.
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