2023 Solar Incentives Guide for Fremont, NE - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Fremont.
You'll learn about:
- Local & State Solar Incentives
- Federal Tax Credits (Updated for 2023 and beyond)
- Ways to optimize your solar investment
Solar installers are experts in maximizing your solar tax credits and rebates.
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By EcoWatch Local Advisors
Data Analysis: James Savino
Ranking Methodology: Karsten Neumeister
Updated May 04, 2023
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What Solar Tax Credits, Incentives, and Rebates are Available in Fremont?
Dollar and Energy Savings Loans
Multifamily dwellings with 3 or more units: $250,000
Home Electronics: $25,000;
Office Electronics: $50,000
Alternative Fuel Projects: $500,000
Telecommunications Projects: $250,000
Sales and Use Tax Exemption for Community Renewable Energy Projects
Nebraska Public Power District - Residential Energy Efficiency Rebate Programs
High Efficiency Heat Pump: $300 - $2,500
Heat Pump Water Heater: $300 - $500
Cooling System Tune-Up: $30
Attic Insulation: $0.15/sq. ft.
Local Option - Property-Assessed Clean Energy Financing
Federal Residential Renewable Energy Tax Credit
Solar incentives are intended to make renewable energy usage more affordable through financial incentives to help people install solar panels on their homes. You may be eligible for various types of incentives, such as discounts, cash back or monthly utility bill credits, depending on your situation. Certain incentives come from your specific utility company, county or municipality, some from the Nebraska government and others from the federal government. You might qualify for any of the following types of solar incentives:
- Rebates: A rebate is a partial refund after the purchase of your solar panels. Rebates may be offered by your local utility company, your state or your county. The cash back that you get from the rebates is normally applied before tax credits are calculated.
- Tax Exemptions: Sales tax exemptions go into effect at the point of sale for your solar system. Property tax exemptions let you ignore the added value of your solar system when you calculate the amount of property tax you need to pay on your house.
- Net Metering: Net metering becomes relevant after your solar panels are up and running. If you have a net metering agreement with your Fremont utility company, the company will subtract the value of the excess energy produced by your solar system from your utility bill each month. In some areas, this credit is dollar-for-dollar, while in other areas you might receive a refund equivalent to a percentage of the value.
- Tax Credits: Tax credits are dollar-for-dollar reductions (not deductions) in the amount of tax that you owe the government.
Federal Solar Incentives
Federal solar incentives are likely to be the first thing that comes to mind when thinking about solar incentives. You may have 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 on your solar system.
The ITC covers solar systems installed after January 1, 2006 and lets you deduct from your taxes a percentage of the total cost of solar panels, equipment, accessories and labor. You can receive this credit for a solar panel system installed on a primary or secondary residence that you own in the United States. The original claim amount was 30% of the total cost, although the amount you can claim may range between 26-30%. There is no maximum claim amount.
Curious how the ITC might apply to your specific situation? Get in touch with your local Fremont solar panel installer to get more information.
In August 2022, the Inflation Reduction Act made revisions to the ITC, now referred to as the Clean Energy Credit. The new Clean Energy Credit is valid until 2035. You can now receive a 30% credit for solar systems installed between January 1, 2022 and December 31, 2032. The credit will then see a slight annual decrease until its expiration. The expansion to the program 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. Your local Fremont solar panel installation expert is the best person to answer your questions about the new Clean Energy Credit and how it applies to you.
State & Local Solar Incentives
Some solar incentives are often also provided by state and local governments. As with federal incentives, these could include rebates, tax credits and more. Incentives may be provided by the state of Nebraska, or by your county or municipality. Some incentives are available for only a limited time, while others are ongoing.
Next Steps for Installing Solar in Fremont
There are a number of different solar incentives: those provided by local utility companies, those provided by the federal government and those provided by the Nebraska government, to name a few. Solar energy utilization has grown enormously in the last 15 years, partially thanks to these incentives. Reach out to your local solar panel installation expert today to find out more information and to save the most money possible on a solar system for your Fremont home.
Best Warranty Coverage
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
- 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
EcoWatch's Fremont, NE Solar Incentives FAQs
What if I am planning to add solar panels to a vacation home, rental property 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 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 other incentives available specifically for commercial properties, depending on the details.
I already have solar panels. Does my system qualify for any incentives?
If your solar panels were installed after January 1, 2022, you may qualify for the newly increased 30% tax credit under the Inflation Reduction Act. If you installed your system between 2006 and 2021, you might qualify for a tax credit between 26% and 30%, depending on the year it was installed. Talking to the company that installed your system, or any local Fremont solar installer, can help you understand what incentives you qualify for.
How long until the federal solar tax credit ends?
The federal solar tax credit, previously called the ITC and now named the Clean Energy Credit, is slated to end on January 1, 2035. The current 30% credit will end in 2032, replaced by a 26% credit in 2033 and a 22% credit in 2034.
I want to change out my appliances for ones that are more energy-efficient. Are there any incentives I can claim?
The new Inflation Reduction Act introduces several 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 up-front 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 applying for, they may apply in a different order. Make sure that you speak with your solar installer or a local tax professional to confirm that you are claiming incentives correctly and getting the most money you can.
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.