Solar Benefits
30% Federal Tax Credits
By going solar, you can take advantage of a 30% federal tax credit on the total cost of your solar panel installation. This means that nearly one-third of your investment in solar energy can be credited back to you, significantly reducing your upfront costs. The tax credit applies to both the solar panels and installation costs, making it a valuable incentive for homeowners looking to save money while adopting clean energy.
​
This incentive is part of the federal government's effort to encourage renewable energy use, and it provides a real financial benefit that can make switching to solar much more affordable. It’s a rare opportunity to invest in your home, increase its value, and reduce your energy bills at the same time.
​
However, this generous tax credit will expire on December 31, 2025, so acting now is crucial if you want to maximize your savings. Don’t miss out on this chance to lower your energy costs, increase your property value, and contribute to a greener planet. You can thank Congress for making this possible, but the real benefit is yours if you install solar panels before the deadline.
Solar Renewable Energy Credits (SRECs)
In addition to the federal tax credits, going solar offers another financial advantage: Solar Renewable Energy Credits (SRECs). Every time your solar panels generate clean, renewable electricity, you earn these credits. They represent proof that you are producing environmentally friendly energy and contribute to reducing overall carbon emissions.
​
SRECs are not just a recognition of your green energy efforts—they also have real monetary value. You can sell these credits on the open market to utility companies or other energy buyers who need them to meet state renewable energy requirements. This creates an ongoing source of income for solar energy producers like you, turning your solar panels into a small but consistent revenue stream.
​
The amount you earn depends on the size of your system and the energy it produces, which means the more energy your panels generate, the more SRECs you can accumulate and sell. Over time, this can significantly offset your initial installation costs and even continue to provide financial benefits for years after your system is installed.
Local Property Tax Reductions
Many local governments offer property tax reductions for homeowners who install solar panels. These reductions help lower your overall property tax, making solar energy even more affordable. In many areas, the added value of solar panels on your home is exempt from property tax assessments, meaning your home increases in value without increasing your taxes.
​
By taking advantage of these local incentives, you can save more money on taxes while enjoying the long-term benefits of clean, renewable energy. Combined with federal tax credits and SRECs, property tax reductions make switching to solar a smart financial choice for homeowners.