According to the U.S. Department of Energy, a home’s resale value increases by $15,000 when a solar system is installed. Most states offer solar property tax exemptions as an incentive for homeowners to go solar.
Solar Property Tax Exemptions remove the added value of a solar system from the valuation of your home for tax purposes. While the value of your home increases due to installing solar, your state property taxes will be for the pre-solar value of your home which is lower.
If you live in a state with solar property tax exemptions, you will not owe additional property taxes for the increased value of your home. Your tax savings will depend on your state and how much solar panels typically increase home values in your local area.
This is one more reason why going solar is a smart investment for your home.
Each state has different laws concerning solar property tax exemptions. We recommend that you visit EcoWatch Solar Tax Exemptions: Sales and Property Tax (2022) to learn about the solar property tax exemptions in your state.
The Database of State Incentives for Renewables and Efficiency (DSIRE) is a comprehensive database for homeowners to search for and find solar energy incentives in their individual state and across the country.
If you’re considering going solar, you have most likely heard about the federal solar tax credit. The investment tax credit (ITC), which is frequently called the federal solar tax credit, allows you as a homeowner to deduct 30% of the cost of installing your solar system from your federal taxes.
Read ArticleGoing solar is a significant investment, but it is also one of the smartest investments you can make as a homeowner. If you are researching how to go solar, you have most likely read about the different state and federal solar tax credits available to homeowners.
Read ArticleSolar rebates are an easy way to reduce your cost of going solar. Rebates are incentives you receive upfront when you install solar panels for your home. States and utility companies can provide rebates at a fixed flat rate regardless of the size of your system. Other utility rebate programs will depend on the size of your home’s system - the amount of kilowatts (kW) you installed for your home.
Read ArticleAccording to the U.S. Department of Energy, a home’s resale value increases by $15,000 when a solar system is installed. Most states offer solar property tax exemptions as an incentive for homeowners to go solar. Solar Property Tax Exemptions remove the added value of a solar system from the valuation of your home for tax purposes. While the value of your home increases due to installing solar, your state property taxes will be for the pre-solar value of your home which is lower.
Read ArticleYou may have read about or come across the term “net metering” while researching if you should go solar. Net metering allows you to sell surplus energy produced by your home’s solar panels back to your utility company. It is essentially a billing tool that uses the electric grid to store surplus energy generated by your home’s system.
Read ArticleMany homeowners are currently asking themselves “Should I go solar?” The cost of switching to solar has dropped 70% over the past decade while the average utility bill has increased by 15%. The huge drop in price along with the many tax credits, rebates, and other financial incentives available to homeowners has made solar into an attractive option.
Read ArticleOver 1 million homeowners in the United States have made the switch to solar this past decade and that number is expected to reach almost 14 million (1 out of every 7 homes) by the end of this decade. If you’re one of the many homeowners who plan to go solar, we recommend you follow this process to convert your home to a solar power home.
Read ArticleWe recommend that you do research about potential solar installers before you schedule a meeting with them. This will save you a lot of time and ensure that you are speaking with a solar installer who you can trust.
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