2025 Solar Incentives Guide for Vicksburg, MS - Tax Credits & Rebates

What Solar Tax Credits, Incentives, and Rebates are Available in Vicksburg?

Source: https://www.dsireusa.org/

Solar incentives are designed to make renewable energy usage more affordable through financial incentives to help people install solar panels on their homes. You may be eligible for several types of incentives, such as cash back, discounts or credit towards your monthly utility bill, depending on your situation. Some incentives come from your specific utility company, county or municipality, some from the Mississippi government and others from the federal government. Categories of solar incentives include:

• Tax Credits: Tax credits are dollar-for-dollar reductions in the amount of income tax that you owe the government. (A tax credit is different from a tax deduction.)
• Net Metering: You may be able to sign a net metering contract with your Vicksburg utility company, that may apply to all or a percentage of the excess electricity your solar panels generate. Your utility company will then subtract this value from your utility bill each month.
• Tax Exemptions: Your solar panels could qualify for both sales tax and property tax exemptions. Sales tax exemptions are applied at the time of purchase. Property tax exemptions allow you to ignore the value that solar panels add when you are calculating property taxes on your house.
• Rebates: Some solar companies will help you claim a rebate, or partial refund after purchase, for your solar panels. Counties or states will also sometimes offer limited-time rebates. Any rebates you receive will usually come off your total price before any tax credits are calculated.

Federal Solar Incentives

When thinking about solar incentives, you probably think of federal incentives first. It's likely that you've heard of the Federal Solar Investment Tax Credit, or ITC. The ITC is a tax credit equal to a specified percentage of the money you spend on your solar system.

The ITC can be applied 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, labor, accessories 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.

Speaking with your local Vicksburg solar panel installation expert is the best way to learn more about how the ITC applies to your situation.

The Inflation Reduction Act, passed in August 2022, added more provisions to the ITC (as well as renaming it to the Clean Energy Credit). Now, solar installation projects begun after January 1, 2022, and finished by December 31, 2032, can qualify for a 30% tax credit. This percentage will then see a slight annual decrease until the end of the current Clean Energy Credit in 2035. Starting in 2023, it will also be easier to qualify for credits for energy storage systems under this new program.

More information about the new Inflation Reduction Act can be found here. Your local Vicksburg solar panel installation experts can answer your questions and explain how the new Clean Energy Credit will apply to you.

State & Local Solar Incentives

In addition to federal solar incentives, there are often also state ones. Rebates, tax credits and more can be offered at a more local level. These incentives may be offered by the Mississippi government, or by your county or municipality. Some are available for a limited time, while others are ongoing.

Next Steps for Installing Solar in Vicksburg

Solar incentives might be provided by the Mississippi government, the federal government or your local utility company. The variety of incentives available has contributed to a large increase in solar energy use in the last 15 years. If you're prepared to make the change to solar energy, getting in touch with your local Vicksburg solar panel installation expert is a great first step.