2025 Solar Incentives Guide for Laramie, WY - Tax Credits & Rebates

What Solar Tax Credits, Incentives, and Rebates are Available in Laramie?

Source: https://www.dsireusa.org/

Solar incentives help mitigate the cost of installing solar panels on your home. This category of financial incentives is intended to encourage more people to switch to renewable energy. Different types of incentives, such as cash back, discounts or monthly utility bill credits, may be available to you. Certain incentives may be offered by the state of Wyoming, by your utility company or by county or municipality, while other incentives are federal. Types of solar incentives might include:

• Rebates: Solar rebates might be provided by your local utility company, or by your state or county. These rebates work as cash back that is applied after you pay for solar panels and before tax credits are calculated.
• Tax Credits: Tax credits lower, dollar-for-dollar, the total amount of tax you owe the government. Tax credits differ from tax deductions.
• Tax Exemptions: These could come in the form of property tax exemptions, which can let you exclude the value of your solar system when calculating the taxes you pay on your house. You may also qualify for an exemption on sales tax at the time of purchase.
• Net Metering: Net metering is an incentive you can get after your solar system is up and running. If you've signed a net metering agreement with your Laramie utility company, the company will subtract the value of the excess energy produced by your solar system from your monthly utility bill. In some places, this credit is dollar-for-dollar, while in others you may receive a refund equivalent to a percentage of the value.

Federal Solar Incentives

When thinking about solar incentives, federal incentives may be the first thing that comes to mind. You might have heard of the Federal Solar Investment Tax Credit, or ITC. This incentive is a tax credit that reduces your taxes by a specified percentage of the money you spend installing solar panels.

The ITC can be applied to solar panels installed after January 1, 2006, on a primary or secondary residence in the United States that you own. Originally, the tax credit was for 30% of the total cost – for panels, accessories, labor and equipment – although the percentage may range from 26-30%, depending on the installation date of your solar system. There is no cap on the amount you can claim.

To understand exactly how much money the ITC could save you, talk to your local Laramie solar panel installer.

In August 2022, the Inflation Reduction Act made revisions to the ITC, now referred to as the Clean Energy Credit. For solar system installations that begin after January 1, 2022, and are completed by the end of 2032, homeowners can apply for a credit for 30% of the total cost. This percentage will decrease annually after 2032 until the Clean Energy Credit ends in 2035. The expansion to the program also makes claiming credit for energy storage systems easier than ever before, starting in 2023.

Click here to learn more about the new Inflation Reduction Act. Your local Laramie solar panel installation experts can answer any questions you have and explain how the new Clean Energy Credit may apply to you.

State & Local Solar Incentives

Not all solar incentives are federal; tax credits, rebates and more might also be offered at the state and local level. Incentives might be provided by the state of Wyoming, or by your county or municipality. Certain incentives might only be available for a limited time, while others are ongoing.

Next Steps for Installing Solar in Laramie

The large number of solar incentives available has helped tremendously increase the use of solar power nationwide over the last 15 years. You might qualify for solar incentives from your local utility company, the Wyoming government or the federal government. Call your local solar panel installer today to find out more information and to save the most money possible on solar panels for your Laramie home.