2023 Solar Incentives Guide for Marple, PA - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Marple.
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 March 14, 2023
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What Solar Tax Credits, Incentives, and Rebates are Available in Marple?
High Performance Buildings Incentive Program
Commercial loans/loan guarantees: $2 million
Grants: Lesser of 10% of project costs or $500,000
Wind and Geothermal Incentives Program
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
High Performance Building Incentives Program
Federal Residential Renewable Energy Tax Credit
Solar incentives are designed to mitigate the cost of installing solar panels on your home. Financial incentives like these are designed to encourage more Americans to switch their home over to renewable energy. Incentives might include things like discounts, cash back or monthly utility bill credits. Some incentives are offered by the federal government, while others are provided by the state of Pennsylvania or your utility company, county or municipality. You might qualify for any of the following types of solar incentives:
- Net Metering: Net metering factors in once your solar system is up and running. If you have in place a net metering agreement with your Marple utility company, it will subtract the value of the excess energy your solar system produces from your monthly utility bill. In some locations, this credit is dollar-for-dollar, while in other places you might get refunded a percentage of the value.
- Tax Credits: Different from tax deductions, tax credits are dollar-for-dollar reductions in the amount of income tax that you owe the federal government.
- Rebates: A rebate is a partial refund credited to your account after you've paid for 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 calculating tax credits.
- Tax Exemptions: Sales tax exemptions are applied at the point of sale for your solar panels. Property tax exemptions let you ignore the value added by your solar system when you calculate the amount of property tax you need to pay on your house.
- Solar Renewable Energy Certificate (SREC): SRECs and similar performance-based incentives might be available to you if your solar system produces over a specified (typically small) amount of electricity. This category of incentives is generally handled by the state government. You can sell the SRECs you receive to your utility company or other buyers, and the money you make is typically considered part of your taxable income.
Federal Solar Incentives
Federal incentives are the kind of incentives that you are most likely to have some knowledge of. The solar incentive that you're most familiar with is probably the Federal Solar Investment Tax Credit (ITC), which gives you a credit on your taxes equal to a specified percentage of the cost of your solar system.
The ITC applies to the total cost of installing a solar system, including the panels themselves as well as equipment, accessories and labor. This credit can be claimed for panels installed after January 1, 2006 on a primary or secondary residence that you own, as long as it is located in the United States. From its original value of 30% of the total cost, the credit has fluctuated slightly between 26-30%, and you may qualify for varying percentages depending on when your project was completed. There is no maximum claim amount.
To better understand how the ITC may apply to your situation, reach out to your local Marple solar panel installer and ask for more information.
The ITC was both renewed and expanded by the passage of the Inflation Reduction Act in August 2022. It's also now called the Clean Energy Credit. The new Clean Energy Credit now runs until 2035. Homeowners can now receive a 30% credit for solar systems installed between January 1, 2022 and December 31, 2032. This new credit will then see a slight annual decrease until its expiration. Beginning in 2023, it will also be easier to claim credits for energy storage systems under this new program.
Click here to learn more about the new Inflation Reduction Act. To fully understand how the new Clean Energy Credit applies to you, get in touch with your local Marple solar installers.
State & Local Solar Incentives
Some solar incentives may be provided at the state and local level. As with federal incentives, these might include rebates, tax credits and more. Some incentives are offered for only a limited time, while others are ongoing. Local solar incentives may come from your county or municipality, or from the Pennsylvania government.
Next Steps for Installing Solar in Marple
Nationwide solar energy use has gone up tremendously in the past 15 years, in part thanks to the growth in the number of solar incentives. You might receive these incentives from the Pennsylvania government, the federal government or your local utility company. Your local Marple solar panel installation expert can give you more information about which incentives you can apply for, and get you feeling good about making the change to renewable energy today.
Best Regional Coverage
- Great warranty coverage
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- Concierge service ensures steady communication
- Slightly limited service offerings
- 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 Marple, PA Solar Incentives FAQs
What if I want to add a solar system to a rental property, vacation home or commercial property? Do I still qualify for incentives?
Many solar incentives are intended to apply to a property you own that is located within the United States; most secondary residences fall into this category. Other solar incentives may be available for commercial properties, depending on the specifics. We recommend speaking with your local solar installer and/or tax professional to best understand what incentives will apply to your specific situation.
How do I learn if I qualify for different solar incentives?
Broadly, solar incentives apply to:
- a new solar panel system
- installed on property you own
- within the U.S.
- within the date range specified by a particular incentive.
Specific incentives, including those run by the Pennsylvania government or by your county/municipality, might have additional qualifications. Talk to your local Marple solar installer to discover what incentives your project may qualify for.
How much will solar panels save me annually on my electric bill in Marple?
Generally, Marple homeowners who install solar panels save about $818.43 per year, or about $15,550.26 over 20 years after making the switch.
What are the environmental benefits of switching to solar energy?
You can reduce your carbon footprint by 300 pounds of CO2 a year by switching to solar panels. This adds up to around 5,000 pounds over 20 years. In addition, solar power is a renewable energy source, which means that switching your home over reduces the drain on our planet's resources.
Can I qualify for incentives both towards the initial cost of solar panels, and later as reimbursement?
Yes, you can receive both tax credits and rebates towards the cost of solar panels. Depending on which incentives you are claiming, 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 that you're getting the most money possible.
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.