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Several incentives are available to reduce the cost of your solar system. Here’s a breakdown:
The Federal Investment Tax Credit (ITC) allows you to deduct a significant percentage of your solar installation costs from your federal taxes. This credit applies to both residential and commercial systems and can be rolled over to subsequent years if your tax liability is less than the credit amount.
Incentives vary by state and can include tax credits, rebates, and performance-based incentives. Some states offer additional incentives for energy storage systems paired with solar.
Many utilities and local governments offer rebates to encourage solar adoption. These rebates can significantly reduce the upfront cost of your solar system and may be combined with other incentives.
Net metering programs allow you to sell excess electricity generated by your solar panels back to the grid, offsetting your utility bill. The terms and availability of net metering vary by location and utility
In some states, solar energy systems are exempt from property tax increases, ensuring that your property taxes do not increase as a result of the added value from the solar installation.
Robinhood Home helps you make informed decisions on solar energy investments.