Additionally, the federal government also offers a Solar Investment Tax Credit (ITC) which allows homeowners to deduct a percentage of the cost of installing a Solar energy system from their federal taxes. This tax credit is currently set at 26% for systems installed in 2020 and 2021, but is scheduled to decrease to 22% in 2023 and expire for residential installations in 2024.
In addition to rebates and tax credits, some utility companies also offer incentives for installing Solar panels, such as net metering programs that allow homeowners to sell excess energy back to the grid. These programs can help offset the costs of installing Solar panels and make renewable energy more accessible for homeowners.
Overall, taking advantage of Solar rebates and incentives can help make Solar energy more affordable and provide long-term savings on energy bills. Be sure to research and explore all available options to maximize your savings and make the switch to Solar energy a smart investment for your home.