2023 Solar Incentives Guide for Lake Hallie, WI - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Lake Hallie.
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.
Get a free quote from one of our trusted Lake Hallie solar installers to see how much you can save.
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Updated March 14, 2023
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What Solar Tax Credits, Incentives, and Rebates are Available in Lake Hallie?
Renewable Energy Sales Tax Exemptions
Renewable Rewards Program
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
Biogas, Solar, and Wind Energy Equipment Exemption
Eau Claire Energy Cooperative - Residential Energy Efficiency Rebate Program
Heat pump clothes dryer: $50/unit
Clothes washer: $25/unit
Dishwashers: $25/unit
Refrigerators: $25/unit
Dehumidifier: $25/unit
Refrigerator/Freezer/Room AC Recycling: $25/unit
Electric Water Heater (75 - 99 Gallons or 85 Gallon Marathon): $125/unit
Electric Water Heater (100+ Gallons or 100 Gallon Marathon): $300/unit
Heat Pump Water Heater: $300/unit
Solar Storage Water Heater: $300/unit
Air Source Heat Pump/Mini-Split Heat Pumps: $200/Ton
Geothermal Heat Pump: $400/Ton
ECM Blower Motor: $35/unit
LED Bulbs: $1
Occupancy Sensor: $5 Each
LED Exit Sign: $5/sign
LED Fixture: $1/800 lumens
Home Performance Evaluation: Up to $100
Home Implementation Incentives: Up to $500
Touchstone Energy Home Program: $500
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
Solar incentives are designed to encourage homeowners to make the switch to renewable energy by providing financial incentives that lower the burden of solar panel installation and use. Incentives may include things like discounts, cash back or credit towards your monthly utility bill. Some incentives are handled federally, while others are handled by the Wisconsin government or by your utility company, county or municipality. You might qualify for any of the following types of solar incentives:
- Rebates: Solar companies may help you claim a rebate, or partial refund of your purchase, for your solar system. States or counties will also sometimes offer limited-time rebates. The value of a rebate will usually come off the total price before tax credits are calculated.
- Tax Credits: These credits are dollar-for-dollar reductions (not deductions) in how much income tax you owe the federal government.
- Net Metering: Net metering is an incentive you can get once your solar system is up and running. If you have in place a net metering agreement with your Lake Hallie utility company, the company will subtract the value of the excess energy your solar system produces from your utility bill each month. In some locations, this is a dollar-for-dollar credit, while in others you may receive a refund equivalent to a percentage of the value.
- Tax Exemptions: Tax exemptions may come in two forms. First, there is sales tax exemption, which is applied at the time you purchase your solar panels. The second is property tax exemption, which allows you to exclude the added value of your solar system when calculating property tax for your house.
Federal Solar Incentives
Federal incentives are the kind of incentives that you are most likely to have heard of. An incentive that most people are likely to be familiar with is the Federal Solar Investment Tax Credit (ITC). The ITC is a tax credit for a given percentage of your solar system's cost.
The ITC can be applied to the total cost of installing a solar system, including the panels themselves as well as labor, equipment and accessories. 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.
Talking to your local Lake Hallie solar panel installer is the best way to understand how the ITC applies to your situation.
In August 2022, the Inflation Reduction Act expanded and extended the ITC, now dubbed the Clean Energy Credit. Under the new program, solar installation projects that are completed between 2022 and 2032 can qualify for a 30% tax credit. This percentage will then see a slight annual decrease until the end of the current Clean Energy Credit in 2035. Starting in 2023, it will also be easier to qualify for credits for energy storage systems under this new program.
More information about the new Inflation Reduction Act can be found here. Your local Lake Hallie solar panel company can answer any questions you have and explain how the new Clean Energy Credit will apply to you.
State & Local Solar Incentives
Some solar incentives are often also provided at the state and local level. Like with federal incentives, these can include tax credits, rebates and more. These incentives might be offered by the Wisconsin government, or by your county or municipality. Some are available for a limited time, while others are ongoing.
Next Steps for Installing Solar in Lake Hallie
Solar incentives can come from the Wisconsin government, the federal government or your local utility company. The variety of incentives available has contributed to a large increase in solar energy use in the last 15 years. Your local Lake Hallie solar panel installation company can provide you with more details about which incentives you should apply for, and get you on track to switch to renewable energy today.
Best Technology
Tesla Energy
- Price-match guarantee
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- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Lake Hallie, WI Solar Incentives FAQs
How much will solar panels save me on my electric bill in Lake Hallie annually?
Generally, homeowners in Lake Hallie who install solar panels save about $988.23 per year, or about $18,776.34 over 20 years after making the switch.
Who installs solar panels near me?
To discover the best solar panel installers near you, read our article on the top solar companies in Lake Hallie.
What are some of the environmental benefits of switching to solar energy?
You can reduce your carbon footprint by 450 pounds of CO2 annually when you install solar panels. This adds up to roughly 9,000 pounds over 20 years. Solar is also a renewable energy source, which means that making the switch lessens the drain on our planet's resources.
Can I qualify for incentives both towards the initial cost of solar panels, and later as reimbursement?
The order that incentives will be applied in may vary depending on which incentives you are eligible for but in most cases yes, you can receive multiple types of incentives for your solar project. Speak to your solar installer or a local tax professional to ensure you are claiming all of the incentives you qualify for and applying them in the correct order.
Can I use 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 Lake Hallie solar installation expert. They can help you plan your project and give you an understanding of various incentives that you may or may not qualify for.
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.