Idaho Solar Incentives: What You Stand to Gain
Why wouldn’t you go solar? Not only is it helping out the planet, but it’s a great investment as well.
Here in Idaho, you can get up to a 40% rebate on your system cost as well as a 20% tax credit for the next three years. Surely, that far outweighs the money spent on installation.
This article outlines some of the important Idaho Solar Incentives available to you.
The Federal Solar Tax Credit
Idaho solar power incentives are different, including the federal solar tax credit. The federal solar tax credit is a 26% tax credit for solar systems on residential and commercial properties. The credit is available for both new and existing systems.
There is no maximum credit amount and the credit can be carried over to future tax years if it is not used in the year the system is installed.
Idaho Solar Tax Credit
The Idaho Solar Tax Credit is one of the most generous solar incentives in the country and is one of your state solar benefits. It allows homeowners and businesses to receive a tax credit for up to 40% of the cost of their solar PV system, with no upper limit. The credit can be applied to both state and federal taxes, and it can be carried forward for up to 4 years.
This means that if you don’t have enough tax liability in the year you install your solar PV system, you can carry the credit forward and apply it to future tax years. This makes the Idaho Solar Tax Credit one of the most valuable incentives for going solar in Idaho.
Idaho Net Metering
Net metering is a billing system that gives solar energy customers credit for the electricity they generate and send to the grid. In Idaho, the net metering rules are set at the state level by the Idaho Public Utilities Commission. Currently, the state’s investor-owned utilities are required to offer net metering to their customers.
Solar customers in Idaho are compensated for the excess electricity they generate at the same rate that they pay for electricity from the utility. This compensation is called a “net metering credit.” Solar customers can use their net metering credits to offset their electricity costs in the future.
The net metering credit is a kilowatt-hour (kWh) for kWh credit. In other words, if a solar customer generates 1,000 kWh of electricity in a year and uses 800 kWh of that electricity, the customer will receive a 200 kWh net metering credit from the utility at the end of the year.
Know Your Idaho Solar Incentives
If you’re going solar in Idaho, research Idaho Solar Incentives before you make your decision. These incentives can help you save money on the upfront cost of your system, making solar more affordable. Be sure to talk to a solar professional to learn more about how these incentives can work for you. These incentives can help you save money on the upfront cost of your system, making solar more affordable. Be sure to talk to a solar professional to learn more about how these incentives can work for you.
To learn more interesting articles, visit our blog.