2023 Solar Incentives Guide for Onalaska, WI - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Onalaska.
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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What Solar Tax Credits, Incentives, and Rebates are Available in Onalaska?
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
Riverland Energy Cooperative - Residential Energy Efficiency Rebate Program
LED Bulb: $1
Occupancy Sensor: $5
LED Exit Sign: $5
LED Fixture: $1 per 800 lumens
Clothes Dryer: $25
Heat Pump Clothes Dryer: $50
Clothes Washer: $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
Heat Pump - Air Source & MiniSplit: $200/ton
Geothermal Heat Pump: $400/ton
New Furnace w/ Efficient ECM Blower Motor: $35/unit
Federal Residential Renewable Energy Tax Credit
Solar incentives help mitigate the cost of installing solar panels on your home. These financial incentives are intended to encourage more Americans to switch their home over to renewable energy. Various kinds of incentives, including discounts, cash back or credit towards your monthly utility bill, might be available to you. Certain incentives may be handled by the Wisconsin government, by your utility company or by county or municipality, while other incentives are federal. Some solar incentives you might qualify for are:
- Tax Credits: These credits are dollar-for-dollar reductions (not deductions) in how much in taxes you owe the federal government.
- Rebates: Solar rebates can be offered by your county or state, or by your local utility company. These rebates are essentially cash back that is applied after you purchase solar panels and before tax credits are calculated.
- Tax Exemptions: Sales tax exemptions are effective at the point of sale for your solar panels. Property tax exemptions allow you to ignore the added value of your solar system when calculating the amount of property tax you need to pay on your home.
- Net Metering: You may be able to sign a net metering agreement with your Onalaska utility company, that may apply to all or a percentage of the excess electricity that is generated by your solar panels. Your utility company will then subtract this value from your utility bill each month.
Federal Solar Incentives
Federal solar incentives are likely to be the first thing that comes to mind when you think about solar incentives. The Federal Solar Investment Tax Credit, or ITC, is the most well-known federal solar incentive. The ITC provides a tax credit for a predetermined percentage of the cost of your solar system.
The ITC can be applied to solar systems installed after January 1, 2006 on a primary or secondary residence that you own in the United States. The credit initially covered 30% of the total cost — for panels, accessories, labor and equipment — although it may range from 26-30%, depending on when your solar system was installed. There is no cap on the amount you can claim.
To understand exactly how much the ITC could save you, contact your local Onalaska solar panel installer.
In August 2022, the Inflation Reduction Act expanded and extended the ITC, now titled the Clean Energy Credit. For solar systems installed between January 1, 2022 and December 31, 2032, homeowners can apply for a credit for 30% of the total cost. The percentage will then decrease annually until the Clean Energy Credit expires in 2035. Starting in 2023, it will also be easier to get credits for energy storage systems with the new act.
Click here to learn more about the new Inflation Reduction Act. To best understand how the new Clean Energy Credit applies to you, get in touch with your local Onalaska solar installation expert.
State & Local Solar Incentives
In addition to those provided at the federal level, there are often also state solar incentives. Tax credits, rebates and more can be offered at a more local level. Some incentives are ongoing, while others may only be available for a limited time. These incentives may be given by your county or municipality, or by the Wisconsin government.
Next Steps for Installing Solar in Onalaska
Solar incentives may come from your local utlity company, the Wisconsin government or the federal government. The growing number of available incentives has helped nationwide use of solar energy increase greatly in the last 15 years. When you're ready to switch over to solar energy, reaching out to your local Onalaska solar panel installation expert is a great first step.
EcoWatch's Onalaska, WI Solar Incentives FAQs
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.