Georgia is ranked 9th in the U.S. for total solar energy production, generating enough electricity to power over 300,000. Solar energy is the future of the Peach State.
Solar energy is a great investment, but many people have doubts. Many people will mention the cost and ask themselves, “What do I have to pay?”
We’re going to examine that today. Find out more about Georgia’s solar incentives here.
Federal Solar Credits
Georgia residents can still benefit from some other incentives. The federal solar credit is one of the most important features of solar energy in America.
This reduces your annual income tax by the same amount. For example, a solar tax credit of $1000 would reduce your annual income tax by that amount.
You can reduce your federal income tax by a certain amount based on your solar system’s cost. The credit amount is usually calculated by multiplying the cost of solar panels by a percentage.
Solar panels are now eligible for a 26% tax credit, which will be valid until 2022. The rate drops to 22% after that, which is still good but lower.
Georgia residents who installed their panels from 2006 to 2023 are eligible for federal solar credits. The panels must be brand new, which means you paid for them yourself.
Cost and Effectiveness of Solar
You could spend up to $20,000. It’s important not to get overwhelmed by the cost.
Solar panels are an investment. Solar panels allow you to be independent of utility companies.
You won’t need to repair your panels often because they are so durable, especially when a leading solar company installs them.
Georgia Solar Program
Georgia utilities permit solar owners to participate in net metering. It is basically when you track how much solar energy you produce and how much power you use.
You can get reimbursed if you have an excess. This energy is then used by other users who do not have solar panels, which allows you to produce and use energy sustainably.
Georgia Solar Program is one of the most important Georgia solar incentives available to businesses. This state-wide rebate program aims to raise awareness about renewable energy production.
The program reimburses up to 50% of the cost of solar panel installations for cities, counties, and K-12 schools. The program is available to all government entities, including those that cannot receive federal tax credits.
This program is one of the most effective solar incentives available in Georgia, even though it has very strict guidelines and a formal process.
Leverage Georgia Solar Incentives
Take advantage of the sun’s constant rays that shine on Georgians. Find the best Georgia solar incentives with this guide.