If you ever thought about going solar in Georgia, the sun is on your side. With a population of 10.7 million and all the sun exposure a state can ask for, there are many great advantages to going solar in "the Peach State." Below we take a look at the federal as well the state incentives that help making the switch to solar the best option for Georgian home and business owners.
FEDERAL SOLAR INCENTIVES
The Federal Tax Credit, also known as the Investment Tax Credit (ITC), is a federal-government sponsored tax credit of 26% which lasts until the end of 2020. This credit applies to all states and is counted against your paid-in federal taxes throughout the course of the year.
Claim your solar tax credit when you file your annual tax return. If not claimed completely in one year, it can continue for up to 5 years. In January 2021, the tax credit will drop to 22%, and then again to 10% in 2022. The ITC applies to both residential and commercial systems, and there is no cap on its value.
STATE SOLAR INCENTIVES
Net Metering: Producing a surplus of energy each month through your solar photovoltaic system will result in Renewable Energy Credits (RECs) which can be applied to subsequent billing statements. The Net Metering program is crucial to make sure you never lose out on the solar energy you produce in months of over-generation.
Abundant Sun Hours: Because of your exceptionally solar-friendly climate, your solar panels will have a lot of photons to absorb. Georgia produces 4.75 daily peak sun hours, and this doesn’t account for non-peak sun hours which still help generate solar energy.
Utility Company Rebates: A number of utility companies in Georgia offer rebates for homes and businesses powered by solar. Central Georgia EMC, GreyStone Power, and Jackson EMC for example offer $450 per kW up to $4,500 which is money back into your pocket. Contact us to see which rebates your utility company offers.
GOING SOLAR WITH GREEN SOLAR TECHNOLOGIES
If you are a home or business owner looking to go green in Georgia, Green Solar Technologies is there for you every step of the way. From customizing a solar PV system to precision mounting and installation, we do it all. Flexible financing options are available as well.