Some common types of Solar rebates and incentives that may be available include:
1. Federal Investment Tax Credit (ITC): This allows homeowners to claim a tax credit of up to 26% of the cost of installing a Solar energy system on their property.
2. State and local rebates: Many states offer additional rebates or incentives for installing Solar panels, which can help offset the upfront cost of the system.
3. Solar Renewable Energy Certificates (SRECs): Some states have programs that allow homeowners to earn credits for the electricity produced by their Solar panels, which can be sold to utilities or other entities for additional income.
4. Net metering: This allows homeowners with Solar panels to receive credit for excess electricity they generate and feed back into the grid, reducing their overall electricity costs.
5. Property tax exemptions: Some states offer property tax exemptions for homeowners who install Solar panels, reducing the overall cost of the system.
6. Sales tax exemptions: In some states, Solar energy systems are exempt from sales tax, making them more affordable for homeowners.
7. Low-interest loans: Some states offer low-interest loans or financing options for homeowners looking to install Solar panels, making it easier to afford the upfront cost.
Overall, taking advantage of these rebates and incentives can help homeowners save money and make the switch to Solar energy more affordable. It is important to research and explore all available options to maximize savings and benefits.
