2024 Solar Incentives Guide for Menasha, WI - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Menasha.
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.
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What Solar Tax Credits, Incentives, and Rebates are Available in Menasha?
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
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
The term "solar incentives" refers to a wide range of financial incentives designed to make installing and using solar panels more affordable. This is done to encourage people to switch to renewable energy. Various kinds of incentives, such as cash back, discounts or credit towards your monthly utility bill, may be available to you. Some incentives may be provided via the state of Wisconsin, by your utility company or by county or municipality, while other incentives are federal. Categories of solar incentives include:
- Tax Exemptions: Your solar panels might qualify for both sales tax and property tax exemptions. Sales tax exemptions are applied at the time of purchase. Property tax exemptions allow you to ignore the value that solar panels add when calculating property taxes on your home.
- Rebates: Your solar installer might help you claim a rebate, or partial refund of your purchase, for your solar panels. Counties or states will also offer limited-time rebates at various times. Any rebates you receive will usually come off your total price before any tax credits are calculated.
- Net Metering: Don't forget to speak to your Menasha utility company about signing a net metering contract. This allows you to get a credit towards your utility bill every month for the value of excess energy generated by your solar panels. You might receive either a dollar-for-dollar credit or a percentage of the value.
- Tax Credits: Tax credits are dollar-for-dollar reductions in the amount of income tax that you owe the federal government. (A tax credit is different from a tax deduction.)
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Technology
Tesla Energy
- 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
Federal solar incentives are likely to be the first thing that comes to mind when thinking about solar incentives. The Federal Solar Investment Tax Credit, or ITC, is the most well-known federal solar incentive. The ITC offers a tax credit for a predetermined percentage of your solar system's cost.
The ITC was originally for 30% of the total cost of installing a solar system, and has fluctuated slightly over the years between 26-30%. The installation date of your solar system will determine what percentage you qualify for. The total installation cost includes the panels themselves as well as the cost of equipment, accessories and labor. There is no maximum amount you can claim. The ITC can be applied to solar panels installed after January 1, 2006, on your primary or secondary residence. The residence must be owned by you and in the United States.
Your local Menasha solar panel installer can provide more information about the ITC and how it might apply to your situation.
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. Now, solar installation projects started after January 1, 2022, and completed by the end of 2032, may be eligible for a 30% tax credit. This credit amount will then decrease slightly each year until the current Clean Energy Credit expires in 2035. The program expansion also makes credits for energy storage systems even easier to claim, beginning in 2023.
Click here to learn more about the new Inflation Reduction Act. Your local Menasha solar panel installation expert is the best person to answer your questions about the new Clean Energy Credit and how it will apply to you.
State & Local Solar Incentives
Rebates, tax credits and more might be claimed at multiple levels. Along with federal solar incentives, there are often state and local ones as well. These solar incentives — which might be provided by your county or municipality, or by the state of Wisconsin — might be offered on an ongoing basis, or for only a limited time.
Next Steps for Installing Solar in Menasha
Nationwide solar energy use has significantly increased in the past 15 years, in part thanks to the growth in the number of solar incentives. You can obtain these incentives from your local utility company, the Wisconsin government or the federal government. Your local Menasha solar panel installation expert can provide you with more details about which incentives you can apply for, and get you on track to switch to renewable energy today.
EcoWatch's Menasha, WI Solar Incentives FAQs
How much will a solar system save me annually on my electric bill in Menasha?
After adding solar panels to your house in Menasha, you can anticipate savings of about $1,022.04 per year, or around $19,418.73 over the next 20 years.
What are the highest-rated solar panel installation companies near me?
To find a top-rated solar panel installer, check out our guide to the top solar companies in Menasha.
What are some of the environmental benefits of switching to solar energy?
Solar energy is renewable — by changing where you get your energy, you can help lessen the strain on our planet's resources. Solar panels can also reduce your home's CO2 emissions by 450 pounds yearly, or roughly 9,000 pounds over 20 years.
I want to switch my appliances out for ones that are more energy-efficient. Are there any benefits I can apply for?
The new Inflation Reduction Act provides a number of incentives that reward homeowners who make eco-friendly upgrades. Some incentives include rebates and tax credits for installing new electric appliances. You can find more details about these incentives here.
Can I receive any incentives when I add solar panels to a vacation home, rental property or commercial property?
Many solar incentives apply to a property located within the United States that you own; most secondary residences fall into this category. There may be other solar incentives available for commercial properties, depending on the specifics. We recommend reaching out to your local solar installer and/or tax professional to best understand what incentives apply to your specific situation.
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.