Presently solar panel rebates have become popular incentives for residential and commercial electricity users to begin using solar energy. It's known that energy generated from solar panel systems definitely is one of the greenest and ecologically friendly sources of energy; however, it was actually the significant cost of solar panels, associated components, and setup costs that limited its use.
Several years back this predicament started shifting when costs of solar panel systems began decreasing considerably.
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Combined with plummeting hardware costs are the federal, state and local incentives which have made solar power an economically feasible option. Not surprising, lots of residential and commercial building owners are going solar in large amounts.
Incentives for solar power can be found in the form of financial incentives, loans, exemptions, tax write-offs, rebates, and tax breaks. Solar incentives can be found at three government levels – federal, state and regional. From the federal government, a tax credit for 30% is available for solar energy system installment.
A solar tax credit is usually offered for photovoltaic (PV) solar panels, solar-powered water heaters, and additional technologies that rely on solar energy. For solar water heating systems, a maximum of $2000 is available.
To receive the federal rebate, your solar water heating installation must be approved by SRCC (Solar Rating and Certification Corporation) or an equivalent level government agency. Only places where half of the residence' water is heated with solar power are able to get this rebate. Homeowners who produce extra credit will be able to carry it ahead to the next tax year.