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A good discount makes any purchase even better, and solar panels are no exception. You can save quite a bit by taking advantage of solar incentives in Connecticut. And we'll tell you how.
Key takeaways
- Connecticut is a great state for commercial and residential solar projects. With solar panels, you can save for every kWh of electricity, and many clean energy incentives for PV modules and batteries can make the idea of going solar even more profitable.
- Investment Tax Credit is a 30% tax credit on the total cost of solar system installation, including solar panels and energy storage solutions.
- Net Billing means that net excess generation is carried over as kWh credits for one year. At the end of the year (March 31), utilities pay for remaining credits at the avoided cost of wholesale power. Residential Renewable Energy Solutions offers two incentive rate structures for new installations after January 1, 2022: Buy-all and Netting.
- Solar systems are exempt from property tax assessments. Property value increases by approximately 4%.
- Land subdivision can help protect solar access from potential obstacles like building expansion or vegetation growth.
Save 30% of your PV system cost with Federal Solar Tax Credit
The US government wants more people to go solar: it’s a modern and green way of getting energy. This is why the Solar Investment Tax Credit (ITC) program was developed. It allows American citizens to claim 30% of the cost of their installation as an income tax deduction. The cost here is not only solar panels, but also shipping, installation expenses and more. For example, if your system overall made you spend $10,000, the government returns you $3,000. To claim the ITC, complete all the necessary forms and submit them when filing your taxes.
Take advantage of net billing program
In Connecticut, any net excess generation during a monthly billing period is carried over to the following month as a kilowatt-hour credit for one year. At the end of the year (March 31), the utility pays the customer for any remaining NEG at the avoided cost of wholesale power.
Residential Renewable Energy Solutions offers new residential installations installed after January 1st, 2022 the opportunity to sell the energy and renewable energy certificates (RECs) at a fixed 20-year price by selecting one of two incentive rate structures: Buy-all or Netting.
Take my energy: What is net metering and how it worksUnder the Buy-All incentive rate structure, the utility will purchase all energy and RECs generated by the facility. Under the Netting incentive rate structure, the utility will purchase all RECs generated by the facility, and any energy exported to the grid that is not consumed on-site. Customers receive monetary on-bill credits for the exported energy equal to their retail rate.
Raise your property value but not your taxes
Connecticut PV system owners can avoid paying additional property taxes on the added value their solar system brings to their home by applying for a solar system tax exemption. This certificate will ensure any new PV system installed and its equipment will not be part of your property tax. Additionally, any such home improvement will definitely make it about 4% more valuable on the property market, says the Zillow report.
4%
this is how much solar panels increase the value of your house
Protect your solar panels from obstacles with land subdivision
Although Connecticut doesn’t offer solar easements, it does offer a land subdivision which will help ensure your PV system always has adequate sun exposure, protecting you from potential obstacles. Subdivision of land will help guarantee that your neighbor will not enlarge the size of their building or allow their vegetation to block sunlight from reaching your system.
1. Myth: Solar panels only work in super sunny places
Fact: They work best in the sun, but they use daylight, not just direct sun. Cloudy days still produce power. And they can even work better in cooler weather.
2. Myth: Solar panels are too expensive
Fact: Costs have dropped, and there are ways to get help paying. Plus, they save you money on your electric bill over time. They last a long time, so they pay for themselves.
3. Myth: Solar panels need constant repairs
Fact: They need very little maintenance. Rain often cleans them, and they're built to withstand tough weather.
4. Myth: Solar panels will damage my roof
Fact: When installed correctly, they won't. Skilled installers make sure they're secure and leak-proof.
5. Myth: Solar panels don't produce enough power
Fact: Modern panels are much more efficient. Technology is always improving.
6. Myth: I'll be completely off the grid with solar
Fact: You'll likely still use the power company, especially at night. You can sometimes sell excess power back to them
7. Myth: Installing solar panels is a long, difficult process
Fact: Professionals can install them quickly, usually in a few days.
8. Myth: Solar panels are ugly
Fact: They've become more sleek and stylish. Some even blend in with roofs. Ground-mounted options are also available.
9. Myth: Renters can't benefit from solar
Fact: Community solar programs allow renters to use solar and save on their bills.
10. Myth: Solar panels make it harder to sell my house
Fact: They often increase a home's value and make it more attractive to buyers.
Check out solar panels near you!
Looking to build a home solar system? Check out solar panels that we have for sale in Connecticut
SHOP SOLAR PANELS
Years of experience in translation and a love of nature help Julia find the right words to encourage going solar. She joined the team in 2023 and is happy to make her contribution to a greener future.
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