Live in Louisiana and would like to install solar panels, but are worried it will be a very expensive and costly project? Going solar is easier with solar incentives in Louisiana. Here is what the state has to offer.
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.
Net metering allows residential solar owners to put the excess electricity onto the utility grid instead of storing it with batteries. The Louisiana law requires that all utilities and electric cooperatives have this program implemented. When you sell your solar power in this manner, you receive an electricity bill reduction based on the utility’s avoided cost. For every kWh you contribute to the grid, you get a certain amount of money based on the Avoided Cost Rate that is updated annually by the utilities.
A solar PV system installed in a home increases its value by about 4%, says the Zillow report. This would mean higher property taxes in other states but not in Louisiana. All solar equipment installed on a residential building or a private swimming pool is considered personal property, meaning that its value can’t be added to the value of such a building or pool.
4%
this is how much solar panels increase the value of your house
The Home Energy Loan Program allows homeowners in Louisiana to take a 5-year loan to make energy-efficient improvements to their homes. The loan may be contracted via lenders participating in the program. The amount is limited to $12,000, but the lender can set additional restrictions. Half of the sum is provided by the Department of Natural Resources at 2%, and the other half by the lender at the market rate. To qualify, you must be a resident of Louisiana and your property must also be located inside the state. Check the full list of limitations to make sure you can participate. The house upgrade has to be approved by an Energy Home Rater during an energy audit.
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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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