2024 Solar Incentives Guide for Lower Gwynedd, PA - Tax Credits & Rebates

In this guide, we'll cover the latest solar incentives and rebates available in Lower Gwynedd.

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 Lower Gwynedd solar installers to see how much you can save.

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated June 24, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

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

High Performance Buildings Incentive Program

Incentive Type:
Loan Program
Residential loans/loan guarantees: $100,000
Commercial loans/loan guarantees: $2 million
Grants: Lesser of 10% of project costs or $500,000

Wind and Geothermal Incentives Program

Incentive Type:
Loan Program
Manufacturer loans: $40,000 per job created within 3 years
Manufacturer grants: $5,000 per job created within 3 years
Loans for geothermal systems: $3 per square foot of space served up to $5 million; also limited to 50% of eligible costs for residential systems.
Loans for wind energy production projects: $5 million
Grants for wind energy production projects: $1 million
Grants for feasibility studies: 50% of cost up to $175,000
Loan guarantee grants: Up to 75% of deficient funds up to $5 million

Solar Alternative Energy Credits

Incentive Type:
Solar Renewable Energy Credit Program
Varies based on market conditions; during 2015 the market price for PA-sourced SRECs has ranged from approximately $32 - $55/MWh ($0.032 - $0.055/kWh) although individual trades have taken place at substantially lower and higher prices.

High Performance Building Incentives Program

Incentive Type:
Grant Program
Vary by project, but program generally requires matching funds at least equivalent to DCED funding

Federal Residential Renewable Energy Tax Credit

Incentive Type:
Personal Tax Credit
30% federal tax credit for systems placed in service after 12/31/2021 and before 01/01/2033. Good for: solar water heat, solar photovoltaics, biomass, geothermal heat pumps, wind (small), fuel cells using renewable fuels.

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


Solar incentives mitigate the cost of installing solar panels on your home. Financial incentives like these are intended to encourage more Americans to switch to renewable energy. You may qualify for several types of incentives, including cash back, discounts 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 state of Pennsylvania and others from the federal government. You might qualify for any of the following types of solar incentives:

  • Solar Renewable Energy Certificate (SREC): SRECs and other performance-based incentives are generally handled at the state level. Once your solar system meets the qualification threshold (normally a small amount of energy production), you can receive SRECs that you can then sell to your utility company or other buyers. The money you receive from the sale is generally considered part of your taxable income.
  • Tax Credits: Tax credits are dollar-for-dollar reductions (not deductions) in how much in taxes you owe the government.
  • Net Metering: Net metering becomes relevant after your solar panels are up and running. If you have a net metering agreement with your Lower Gwynedd utility company, they will subtract the value of the excess energy your solar system produces from your monthly utility bill. In some locations, this is a dollar-for-dollar credit, while in others you may be refunded a percentage of the value.
  • Tax Exemptions: These can come in the form of property tax exemptions, which can let you exclude the value of your solar system when calculating the taxes you pay on your house. You could also look for exemptions on sales tax at the time of purchase.
  • Rebates: Solar rebates can be provided by your local utility company, or by your state or county. These rebates work as partial refunds that are applied after you pay for a solar system and before tax credits are calculated.

Best Regional Coverage

Momentum Solar

★★★★★
4.5
  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

Best for Leasing

Sunrun

★★★★★
4.0
  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

Solar Veteran

Trinity Solar

★★★★★
4.0
  • Many financing options
  • Family-owned and -operated
  • Makes charitable contributions
  • Limited service area
  • Relatively short workmanship warranty

Federal Solar Incentives

Federal solar incentives are likely the first thing that you think of when thinking about solar incentives. The Federal Solar Investment Tax Credit, or ITC, is the most well-known federal solar incentive. The ITC provides you with a tax credit for a specific percentage of the cost of your solar system.

The ITC applies to solar panels installed on your primary or secondary residence in the United States. The solar panels have to have been installed on a property you own after January 1, 2006, for you to claim the credit. The ITC originally paid out 30% of all system costs (panels, labor, accessories and equipment), although the total amount has fluctuated slightly over the years between 26-30%. The amount you qualify for will depend on when your solar system was installed. There is no cap on the amount you can claim.

To know exactly how much the ITC could save you, speak with your local Lower Gwynedd solar panel installer.

The ITC has been renewed and expanded following the passage of the Inflation Reduction Act in August 2022. It's also now called the Clean Energy Credit. Under the new program, solar installation projects begun after January 1, 2022, and finished by December 31, 2032, can qualify for a 30% tax credit. This credit amount will then decrease slightly each year until the current Clean Energy Credit expires in 2035. Starting in 2023, the program expansion will also make claiming credit for energy storage systems easier than ever before.

More information about the new Inflation Reduction Act can be found here. The best way to understand how the new Clean Energy Credit will apply to you is to get in touch with your local Lower Gwynedd solar panel company.

State & Local Solar Incentives

Not all solar incentives are federal; tax credits, rebates and more might also be offered at the state and local level. Some incentives are ongoing, while others are offered for only a limited time. These local incentives may come from the Pennsylvania government, or from your specific county or municipality.

Next Steps for Installing Solar in Lower Gwynedd

Nationwide solar energy use has significantly increased in the past 15 years, in part thanks to the increase in availability of solar incentives. You can obtain these incentives from the Pennsylvania government, the federal government or your local utility company. Reaching out to your local Lower Gwynedd solar panel installation company is the best first step towards getting the most money possible when you switch to solar energy.

EcoWatch's Lower Gwynedd, PA Solar Incentives FAQs

How much can I save on my electric bill annually if I install solar panels on my house in Lower Gwynedd?

Typically, Lower Gwynedd homeowners who install solar panels save about $809.23 per year, or around $15,375.40 over 20 years after making the switch.

What are the highest-rated solar panel installation companies near me?

To discover the best solar panel installation companies near you, read our article on the top solar companies in Lower Gwynedd.

When does the federal solar tax credit end?

The Clean Energy Credit (formerly called the federal solar tax credit, or the ITC), is scheduled to end 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 apply for?

With the passage of the new Inflation Reduction Act, there are a number of new financial incentives to encourage you to make eco-friendly improvements to your home. More details on these incentives, including information about incentives for purchasing new appliances, can be found here.

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.

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