Solar Electricity is a clean and renewable technology that is constantly improving in efficiency. Our current State and Federal incentives help to make solar an even stronger investment.
“Work was done on schedule and on budget.” – Jerome J.
Federal Tax Credit
The federal solar tax credit, also known as the investment tax credit (ITC), allows you to deduct 30 percent of the cost of installing a solar energy system from your federal taxes. The ITC applies to both residential and commercial systems, and there is no cap on its value. Thanks to the ITC, the average EnergySage Solar Marketplace shopper saved over $5,000 on the cost of going solar in 2017. (https://news.energysage.com/congress-extends-the-solar-tax-credit/)
Utility Solar Incentives
Net Metering is occasionally referred to as “spin the meter backwards”. Solar customers are able to use the electrical grid as a battery, storing extra energy in the summer as credits, and then using the energy credits in the winter. When more solar is produced than can be used, the extra power is sent to the utility as a credit. The credits then are automatically redeemed when you are more energy is being used than the solar system is producing. The standard electrical meter is replaced with a bidirectional meter that keeps track of all the power bought and sold. Visit our Understand Solar page to learn more!
We have partnered with Local Lenders to help with your financing needs. Low interest loans are now available with no home equity required. South Sound Solar customers receive a special reduced interest rate from our partner lenders – starting at less than 4%! Agricultural and Small Businesses can apply for USDA Rural Energy grants that funds 25% of the installation. Visit our Commercial Solar PV page for more information.
Rural Energy for America Program (REAP) helps small businesses access renewable energy. You can receive grants up to $250,000 for energy efficiency projects and up to $500,000 for nonrenewable energy projects. Guaranteed loans are awarded up to $25 million for eligible projects. Grants cover up to 25% of the project’s eligible costs. Guaranteed loans cover up to 75% of a project’s eligible costs. Combined grants and guaranteed loans cover up to 100% of a project’s eligible costs.
Agricultural and Small Businesses can apply for USDA Rural Energy grants that funds 25% of the installation. Visit our Commercial Solar PV page for more information.
REAP can help fund energy efficiency projects:
“They informed me of a grant opportunity for my small business and helped me with all the documents to apply for this grant.” – Kelli N.