2024 Solar Incentives Guide for Holmen, WI - Tax Credits & Rebates

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

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 Holmen 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

Why you can trust EcoWatch

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 Holmen?

Riverland Energy Cooperative - Residential Energy Efficiency Rebate Program

Incentive Type:
Rebate Program
Lighting Rebates
LED Bulb: $1
Occupancy Sensor: $5
LED Exit Sign: $5
LED Fixture: $1 per 800 lumens

Appliance Rebates
Clothes Dryer: $25
Heat Pump Clothes Dryer: $50
Clothes Washer: $25
Dehumidifier: $25
Dishwasher: $25
Refrigerator: $25
Appliance Recycling (Refrigerator/Freezer/Room AC): $25

Water Heaters and Flow Restrictors
Residential High Efficiency Water Heater: $125 - $300 (varies based on size)
Heat Pump Water Heater: $300
Solar Storage Water Heater w/ Electric Backup: $300
Flow Restrictors - Faucet: $1
Flow Restrictors - Shower: $5

HVAC
Heat Pump - Air Source & MiniSplit: $200/ton
Geothermal Heat Pump: $400/ton
New Furnace w/ Efficient ECM Blower Motor: $35/unit

Biogas, Solar, and Wind Energy Equipment Exemption

Incentive Type:
Property Tax Incentive
100% of the value added by an eligible renewable energy system

Renewable Rewards Program

Incentive Type:
Rebate Program
Solar PV: Residential - $200 per kW
Business - 0-5 kW: $200 per kW
5-10 kW: $1000 + $150 per kW over 5
10-100 kW: $1750 + $125 per kW over 10
100-300 kW: $13000 + $100 per kW over 100
300-500 kW: $33000 + $85 per kW over 300

Renewable Energy Sales Tax Exemptions

Incentive Type:
Sales Tax Incentive
100% exemption from sales and use tax for eligible purchases

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/


The phrase "solar incentives" broadly refers to financial incentives put in place by solar companies and the government to encourage the adoption and use renewable energy by making the installation and use of solar panels more affordable. Incentives may include things like discounts, cash back or credit on your utility bill each month. Some incentives are provided by the federal government, while others are handled by the Wisconsin government or by your utility company, county or municipality. Some broad categories of solar incentives include:

  • Tax Credits: Unlike tax deductions, tax credits reduce, dollar-for-dollar, the amount of income tax that you owe the federal government.
  • Rebates: Rebates, or cash back after a purchase, are usually applied before any solar tax credits are calculated. Solar rebates can be provided by your local utility company, by your county or by your state.
  • Tax Exemptions: Sales tax exemptions go into effect at the time of purchase for your solar panels. Property tax exemptions allow you to ignore the value added by your solar system when calculating how much property tax you need to pay on your house.
  • Net Metering: You may be able to sign a net metering contract with your Holmen utility company that will apply to all or a percentage of the excess electricity that is generated by your solar panels. They will then deduct this value from your utility bill each month.

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 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

Best Social Impact

Palmetto Solar

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

Federal Solar Incentives

When someone says "solar incentives," you probably think of federal incentives first. You might have heard of the Federal Solar Investment Tax Credit, or ITC. This is a tax credit equal to a specified percentage of the money you spend on your solar system.

The ITC can be applied 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 installation costs (panels, equipment, labor and accessories), although this amount has fluctuated over the last few years between 26-30%. The installation date of your solar system will determine what percentage you are eligible for. There is no cap on the amount you can claim.

Your local Holmen solar panel installation expert can provide more information about the ITC and how it applies to your situation.

In August 2022, the Inflation Reduction Act expanded and extended the ITC, now called the Clean Energy Credit. The Clean Energy Credit has increased the current credit up to 30% for solar installations undertaken between January 1, 2022, and December 31, 2032. At this point, the credit percentage will see a slight decrease annually until the end of the program in 2035. Beginning in 2023, it will also be easier to qualify for credits for energy storage systems under the new laws.

More information about the new Inflation Reduction Act can be found here. To best understand how the new Clean Energy Credit applies to you, speak with your local Holmen solar installation company.

State & Local Solar Incentives

There are more than just federal solar incentives; rebates, tax credits and more may be offered at the state and local level. Certain incentives are ongoing, while others are offered for only a limited time. These local incentives might come from your county or municipality, or from the Wisconsin government.

Next Steps for Installing Solar in Holmen

The large number of solar incentives available has helped tremendously increase the adoption of solar energy nationwide over the last 15 years. You might qualify for solar incentives from the federal government, the Wisconsin government or from your local utility company. We suggest talking to your local Holmen solar installation company for more information about these incentives and to be sure that you're getting all the money you can for your solar system.

EcoWatch's Holmen, WI Solar Incentives FAQs

Who installs solar panels near me?

To find the top solar panel installers near you, take a look at our article on the top solar companies in Holmen.

Can I qualify for incentives both towards the initial cost of solar panels, and later as reimbursement?

The order your incentives will be applied in may vary depending on which incentives you receive but usually yes, you can claim multiple types of incentives for your solar project. Get in touch with your solar installer or a local tax professional to be sure you are claiming all the incentives you're eligible for and applying them in the correct order.

Can I use a combination of multiple types of renewable energy to power my home?

You can use multiple types of renewable energy, or a combination of renewable and non-renewable energy, to power your home. Be sure to discuss your ideas with your local Holmen solar installation expert. They can help you with the plan for your project and educate you on the various incentives that you will or won't qualify for.

Can I get any financial incentives when I add solar panels to a rental property, vacation home or commercial property?

While we recommend talking to your local solar installer and/or tax professional to better understand what solar incentives apply to you, many incentives can be claimed on a second home, so long as that home is in the United States and owned by you. There may be other incentives available for commercial properties specifically, depending on the details.

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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