2024 Solar Incentives Guide for Jamestown, ND - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Jamestown.
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 Jamestown?
Renewable Energy Property Tax Exemption
Wind, hydroelectric, geothermal, solar thermal, solar PV, and other solar energy systems: the assessed value of the system
Otter Tail Power Company - Energy Efficiency Rebate Program
Air-Source Heat Pump: $400-$900/ton
Geothermal Heat Pump: $1,000/ton
Thermal Storage Heating and Cooling: $40/kW
Appliance Recycling: $50/item, capped to $100 per year
Electronically Commutated Motors: $100
Home Insulation: Up to $1,400
Smart Thermostat: $35-$150
Boiler/Furnace: $500/unit (9-20 kW), $25/kW (21+ kW)
Water Heaters: up to $400
Northern Plains EC - Commercial Energy Efficiency Loan Program
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
The term "solar incentives" includes a range of financial incentives put in place to make installing and using solar panels more affordable. This is done to encourage people to switch to renewable energy. Different types of incentives, like discounts, cash back or credit towards your monthly utility bill, may be available to you. Certain incentives may be provided via the North Dakota government, by your utility company or by county or municipality, while others are federal. You might qualify for any of the following types of solar incentives:
- Tax Exemptions: These may come in the form of property tax exemptions, which let you ignore the value added by your solar panels when paying taxes on your home. They may also include exemptions on sales tax at the time of purchase.
- Tax Credits: Different from tax deductions, tax credits reduce, dollar-for-dollar, the amount of income tax that you owe the federal government.
- Net Metering: You may be able to sign a net metering contract with your Jamestown utility company that will apply to all or a percentage of the excess electricity your solar panels generate. They will then deduct this value from your monthly utility bill.
- Rebates: Your solar installer might help you claim a rebate, or partial refund of your purchase, for your solar panels. Counties or states will also sometimes offer limited-time rebates. Any rebates you receive will usually be deducted from the total price before tax credits are calculated.
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
When you think about solar incentives, you likely think of federal incentives first. The Federal Solar Investment Tax Credit, or ITC, is probably the most commonly known federal solar incentive. The ITC allows you to claim a tax credit for a specific percentage of your solar system's cost.
The ITC was originally for 30% of the total cost of solar system installation, and has fluctuated slightly over the last few years between 26-30%. The percentage you qualify for will depend on when your solar system was installed. The total installation cost includes the panels themselves as well as the cost of labor, accessories and equipment. There is no maximum claim amount. The ITC applies to solar panels installed after January 1, 2006, on your primary or secondary residence. The residence must be in the United States and owned by you.
Your local Jamestown solar panel installation expert can provide you with more information about the ITC and how it applies to your situation.
In August 2022, the ITC (now called the Clean Energy Credit) was expanded and extended by the passage of the Inflation Reduction Act. Homeowners can now qualify for a credit of 30% of the total solar system installation costs for projects started after January 1, 2022, and completed before the end of 2032. The credit percentage will then decrease on a yearly basis until the Clean Energy Credit expires in 2035. The expansion also makes claiming credit for energy storage systems easier than ever before, beginning in 2023.
Click here to learn more about the new Inflation Reduction Act. The easiest way to learn more about how the new Clean Energy Credit might apply to you is to reach out to your local Jamestown solar panel installers with your questions.
State & Local Solar Incentives
Not all solar incentives are federal; tax credits, rebates and more are often offered at the local or state level. Some incentives are ongoing, while others may only be available for a limited time. Incentives might be provided by your county or municipality, or by the North Dakota government.
Next Steps for Installing Solar in Jamestown
There are a number of different solar incentives: those offered by local utility companies, those offered by the North Dakota government and those offered by the federal government, to name a few. Solar energy use has increased enormously in the last 15 years, partially thanks to these incentives. We recommend talking to your local Jamestown solar installer for more information about these incentives and to ensure that you're getting the most money possible for your solar panels.
EcoWatch's Jamestown, ND Solar Incentives FAQs
How do I learn if I qualify for different solar incentives?
It's a good idea to talk to your local Jamestown solar installer to get an understanding of which incentives your project will qualify for. Usually, solar incentives apply to new solar panel systems installed on a property you own (in the U.S.) within a specified date range. Some incentives, like those provided at the level of the North Dakota government, might have additional requirements.
How much will solar panels save me on my electric bill in Jamestown annually?
Typically, Jamestown homeowners who install solar panels save around $738.98 per year, or approximately $14,040.60 over 20 years after they make the switch.
What are some environmental benefits of adding solar panels to my house?
Solar energy is renewable — by changing where you get your energy, you help lessen the strain on our planet's resources. A solar system can also reduce the CO2 emissions from your home by 450 pounds yearly, or around 9,000 pounds in 20 years.
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. Make sure you go over your plan with your local Jamestown solar installation expert. They can help you as you plan for your project and give you an understanding of various incentives that you might or might not qualify for.
Can I receive any incentives when I add solar panels to a vacation home, rental property or commercial property?
While we recommend talking to your local solar installer and/or tax professional to best understand what solar incentives apply to you, many incentives will apply to a second home, provided that it is in the United States and owned by you. There may be additional incentives available specifically for commercial properties, depending on the specifics.
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.