2023 Solar Incentives Guide for Casper, WY - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Casper.
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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Updated September 15, 2023
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What Solar Tax Credits, Incentives, and Rebates are Available in Casper?
Wyoming PACE Financing Program
Questar Gas - Residential Energy Efficiency Rebate Programs
Smart Thermostat: $50
Water Heaters: $100-$750
Tankless Water Heater: $350
Solar Assisted Water Heater: $750
Furnace: $200-$400
Boiler: $400-$600
Fireplace: $200
Weatherization Rebates
R-5 Windows: $2.50/sq. ft.
Wall Insulation: $0.30/sq. ft.
Floor Insulation: $0.20/sq. ft.
Attic Insulation: $0.07-$0.25/sq. ft.
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
The phrase "solar incentives" refers to a 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. Solar incentives may include upfront discounts, cash back or credit towards your monthly utility bill. Some incentives are provided by the federal government, some by the Wyoming government and some by your utility company, county or municipality. Types of solar incentives might include:
- Net Metering: Net metering becomes relevant once your solar panels are up and running. If you have a net metering agreement with your Casper utility company, it will subtract the value of the excess energy your solar system produces from your utility bill each month. In some locations, this credit is dollar-for-dollar, while in other areas you might get refunded a percentage of the value.
- Tax Credits: Unlike tax deductions, tax credits are dollar-for-dollar reductions in the amount of income tax that you owe the federal government.
- Tax Exemptions: Your solar panels could qualify for exemptions on both sales and property tax. Sales tax exemptions are applied at the time of purchase. Property tax exemptions let you ignore the value that solar panels add when you are calculating property taxes on your house.
- Rebates: Rebates, or partial refunds after a purchase, are usually applied prior to any solar tax credits being calculated. These rebates might be offered by your local utility company, by your county or by your state.
Solar Veteran
Creative Energies
- Certified B Corp
- Outstanding customer service
- Many years of experience
- Multitude of products and services
- No leases or PPAs
- Slightly expensive
Federal Solar Incentives
When thinking about solar incentives, federal incentives might be the first thing that comes to mind. The Federal Solar Investment Tax Credit, or ITC, is probably the most well-known federal solar incentive. The ITC offers a tax credit for a set percentage of your solar system's cost.
The ITC applies to solar panels installed on your primary or secondary residence in the United States. The solar system has to have been installed on a property you own after January 1, 2006 for you to be eligible for the credit. The ITC originally paid out 30% of all system costs (panels, labor, accessories and equipment), although the total amount has fluctuated slightly over the years between 26-30%. The amount you qualify for will depend on when your solar system was installed. There is no cap on the amount you can claim.
To better understand how the ITC might apply to you, contact your local Casper solar panel installer and request more information.
The ITC was both renewed and expanded by the passage of the Inflation Reduction Act in August 2022. It's also now called the Clean Energy Credit. Homeowners are now eligible for a credit of 30% of the total costs of solar system installation for projects started after January 1, 2022 and completed before the end of 2032. The credit percentage will then begin to decrease on a yearly basis until the Clean Energy Credit ends in 2035. The program expansion also makes it easier to get credit for energy storage systems, beginning in 2023.
More information about the new Inflation Reduction Act can be found here. Your local Casper solar panel installation experts can answer your questions and explain how the new Clean Energy Credit applies to you.
State & Local Solar Incentives
Some solar incentives may be provided at the state and local level. As with federal incentives, these can include tax credits, rebates and more. These incentives might be distributed by the Wyoming government, or by your county or municipality. Some incentives may be available for a limited time, while others are ongoing.
Next Steps for Installing Solar in Casper
Solar incentives may be offered by the federal government, the Wyoming government or your local utility company. The large number of available incentives has facilitated the nationwide growth of solar energy use in the last 15 years. Your local Casper solar panel installation expert can help you learn more about which incentives you should apply for, and get you feeling good about making the change to renewable energy today.
EcoWatch's Casper, WY Solar Incentives FAQs
My home already has solar panels. Does my system qualify for any incentives?
You should plan to talk to a representative from the company that installed your system — or get in touch with a local Casper solar installer — to better understand which incentives you might 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. Systems installed between 2006 and 2021 may qualify for a tax credit of 26-30%.
Who installs solar panel systems near me?
To find the top solar panel installation companies near you, take a look at our article on the best solar companies in Casper.
What are some environmental benefits of installing solar panels on my house?
Solar energy is renewable — by changing where you get your energy, you help reduce the strain on our planet's resources. Solar panels can also lower the CO2 emissions from your home by 500 pounds annually, or around 11,000 pounds over 20 years.
If I change out my appliances for ones that can utilize solar energy, are there benefits that I can claim?
The recently passed Inflation Reduction Act includes provisions for multiple incentives meant to reward homeowners for making eco-friendly upgrades. Some incentives include tax credits and rebates for installing new electric appliances. You can find more details about these incentives here.
Can I receive incentives both towards the up-front cost of solar panels, and later as reimbursement?
The order your incentives will be applied in might vary depending on which incentives you are eligible for but usually yes, you can receive multiple types of incentives for your solar project. Speak to your solar installer or a local tax professional to be sure you are claiming all the incentives you are eligible for and applying them in the correct order.
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.