2024 Solar Incentives Guide for Brandon, SD - Tax Credits & Rebates

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

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 Brandon solar installers to see how much you can save.

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 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 Brandon?

Renewable Energy System Exemption

Incentive Type:
Property Tax Incentive
$50,000 or 70% of the assessed value of eligible property, whichever is greater, is exempt

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 help mitigate the cost of installing solar panels on your home. This category of financial incentives is designed to encourage more Americans to switch to renewable energy. Incentives might include things like discounts, cash back or credit on your utility bill each month. Some incentives are offered by the federal government, while others are provided by the South Dakota government or by your specific utility company, county or municipality. Some broad categories of solar incentives include:

  • Tax Exemptions: Sales tax exemptions go into effect at the point of sale for your solar panels. Property tax exemptions let you ignore the value added by your solar system when calculating the amount of property tax you need to pay on your house.
  • Tax Credits: Unlike tax deductions, tax credits are dollar-for-dollar reductions in the amount of income tax that you owe the government.
  • Net Metering: You may be able to sign a net metering contract with your Brandon utility company. This agreement 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.
  • 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. The value of a rebate will usually be deducted from your total price before any tax credits are calculated.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
3.2

  • 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 probably think of federal incentives first. You may have heard of the Federal Solar Investment Tax Credit, or ITC. This is a tax credit that reduces your taxes by a certain percentage of the money you spend on solar panels for your home.

The ITC can be applied to the total cost of installing a solar system, including the panels themselves as well as labor, accessories and equipment. This credit can be claimed for panels installed after January 1, 2006, on a primary or secondary residence located in the United States that you own. Originally set at 30% of total costs, the credit has fluctuated over time, and you may qualify for different amounts depending on when your project was completed. There is no maximum claim amount.

Your local Brandon solar panel installation expert can give you more information about the ITC and how it may apply to your situation.

In August 2022, the ITC (now titled the Clean Energy Credit) was bolstered by the passage of the Inflation Reduction Act. The Clean Energy Credit bolsters the current credit, increasing it up to 30% for solar installations undertaken between January 1, 2022, and December 31, 2032. After 2032, the credit percentage will see a slight decrease annually until the end of the program in 2035. The expansion also makes it easier to get credit for energy storage systems, beginning in 2023.

Click here to learn more about the new Inflation Reduction Act. To fully understand how the new Clean Energy Credit might apply to you, reach out to your local Brandon solar installers.

State & Local Solar Incentives

Rebates, tax credits and more can be provided at multiple levels. On top of federal solar incentives, there are often state and local ones, too. These incentives may be handled by the South Dakota government, or by your county or municipality. Some are available for a limited time, while others are ongoing.

Next Steps for Installing Solar in Brandon

The large number of solar incentives available has enormously increased the nationwide adoption of solar energy over the last 15 years. You can get solar incentives from the South Dakota government, the federal government or your local utility company. Speaking with your local Brandon solar panel installer is a great first step towards getting all the incentives you qualify for when you switch to solar energy.

EcoWatch's Brandon, SD Solar Incentives FAQs

My home already has solar panels installed. Do I qualify for any incentives?

You should plan to talk to someone from the company that installed your solar system – or get in touch with a local Brandon solar installer — to clarify which incentives you may qualify for. If your solar panels were installed after January 1, 2022, you likely qualify for the newly increased 30% tax credit under the Inflation Reduction Act. Solar panels installed between 2006 and 2021 may qualify for a tax credit of 26-30%.

How much will a solar system save me on my electric bill in Brandon annually?

When you add solar panels to your home in Brandon, you can expect to save around $875.25 per year, or approximately $16,629.82 over the next 20 years.

What are the top solar panel installation companies near me?

To find the right solar panel installer for you, check out our guide to Brandon's best solar panel companies.

When does the federal solar tax credit end?

The Clean Energy Credit (formerly named 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.

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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