Articles tagged "incentives"

Rhode Island probably isn’t the first state that comes to mind when you think of solar, but it actually has more solar capacity per capita than Florida (the so-called “Sunshine” state). Why is this the case? First of all, Rhode Island has a good climate for solar that is comparable to the northwest corner of California. Rhode Island also has expensive electricity, with a price of residential electricity that hovers around 22.

California is a big and sunny state, so it’s no surprise that it’s one of the largest markets for solar in the United States. This is helped by the 26% federal tax credit, but there are other rebates that Californians can take advantage of to lower their costs even further. Here’s a complete list of solar tax credits and other incentives available to California homeowners in 2021. Federal solar tax credit Homeowners across the US can take advantage of the federal Residential Energy Efficient Property Credit, also known as the solar Investment Tax Credit for the business community.

Buying solar panels for your home is a large investment. How many years will it take for that investment to pay itself back? In the US, the best case is that a home solar panel system will break even financially in about 5 years. That’s if you live in a state with excellent financial incentives such as Rhode Island or New York. The average in the US is to break even in around 8 years.

Is net metering available in New Hampshire? Yes! Net metering is currently available from all electric utilities in New Hampshire. Credits for excess generation are banked and rolled over to the next month. Such credits may be carried forward indefinitely, but customers may elect to be paid for their credits at the avoided cost rate, which will be lower than the residential retail rate for electricity. The New Hampshire Public Utilities Commission website has the complete text of the current net metering rules.

New York state, despite being situated in the northeastern United States instead of the Sunbelt that people normally think of when it comes to solar, was the 6th largest state for solar photovoltaic installations in 2018. This is helped in a large part by some of very best solar incentives in the country. Summary of solar rebates available to New York residents: Federal tax credit26% off system price through 2020 (22% in 2021) New York income tax credit for solar 25% off system price, up to $5,000 NYSERDA NY-Sun rebateRebate of $0.

The Garden State has one of the most aggressive clean energy goals in the nation: 22.5% of its electricity must be renewable by 2021, and 100% by 2050. Because of that, it’s not surprising that New Jersey is ranked 7th in the nation (PDF) when it comes to solar power deployments. That’s good news if you’re a homeowner who is thinking of adding solar panels to their house, because it means that there are several policies that make solar more attractive for New Jersey residents.

In 2016, the Arizona Corporation Commission (the public utility commission for the state) voted to end net metering. What this means for the solar owner is that new systems that are added to the grid will be reimbursed at a wholesale rate for any excess electricity they send into the grid. The upshot of this is that if you consume less energy than your panels produce during the day, and draw power from the grid during the evening, solar will be less financially advantageous for you.

Is net metering available in California? It depends on your utility. The California Public Utilities Commission (CPUC) requires the three private (investor-owned) utilities in Calfornia to offer net metering: San Diego Gas & Electric (SDG&E), Pacific Gas & Electric (PG&E), and Southern California Edison (SCE). This rule by CPUC does not apply to municipal utilities in the state. However, the largest municipal utility in the state, the Los Angeles Department of Water & Power (LADWP), does offer net metering to its customers.

Big news! The federal tax credit for homeowners and businesses that install solar, which was previously set to expire, has been extended for two years. Disclaimer: I'm a solar nerd, not a tax nerd. Please consult a tax professional for authoritative advice on this issue. This tax credit, often called the Solar Investment Tax Credit, gives homeowners and businesses a break on their federal taxes worth 26% of the gross price of a solar photovoltaic system.