Homeowners interested in going solar may be eligible for some excellent incentives from the federal government and individual states. Such benefits may include state tax incentives, net metering, property tax exemptions, and more. To find out which solar incentives are available to you, this article provides an overview of the benefits available for going solar and which states offer them.
Several solar panel systems rebates, such as state tax credits and sales tax exemptions, may be available to homeowners. State tax credits are applied to state taxes the year after installation, and amounts vary from state to state. For example, in certain states such as Texas, Florida, California, and New Mexico, you can be exempt from paying sales tax on your solar panel system equipment. This can lead to large savings on your purchase.
When you install a solar panel system on your home, many states offer a property tax exemption so your taxes won’t go up. Texas, Florida, and Arizona are a few examples. Another major incentive is net metering, which enables you to gain credits on your electricity bill by sending excess solar energy back to the grid. This is an important perk to consider when making the switch to solar.