How Do Solar Rebates Work?
Solar rebates help countless homeowners save money on photovoltaic system installations. Just like big box stores and manufacturers offer cash back on product purchases, some state and local governments and utility companies provide rebates to consumers who invest in photovoltaic energy systems.
Are you planning to install a photovoltaic array to power your home? Rebates can help to substantially reduce your system costs.
Determining Eligibility for Solar Rebates
First, the good news about qualifying for solar rebates: Unlike tax credits, you don’t have to have an income to claim them.
To be eligible, you simply have to pay for your photovoltaic system, either with out-of-pocket cash or through some type of loan or financing program. And although many solar rebate programs have restrictions or limitations, many homeowners can save thousands of dollars on their solar installations.
What if you opt to lease your photovoltaic panels? With leasing, you never actually own your PV system, as it still belongs to the solar company. As most rebate programs offer money back on a purchase, a leased system will not qualify you for these programs.
Availability of Solar Rebates
Unfortunately, solar rebates aren’t available for every homeowner in every location, and rebate programs vary considerably from state to state.
Does your state or utility company offer money back for photovoltaic systems? Find out now by heading to the Database of State Incentives for Renewables & Efficiency (DSIRE). Funded by the U.S. Department of Energy, DSIRE maintains a complete, up-to-date directory of all available rebates and other financial incentives for adopting solar energy.
Simply click on your state to see current information.
When Do You Get Your Money Back from Solar Rebates?
Not all rebates offer cash back in the same way. DSIRE shows details for each program, however, so you’ll know ahead of time how you’ll get paid.
Some programs take money off of the up-front costs of installing a photovoltaic system. The rebate is sent to the professional solar installer, who passes along the savings to the homeowner.
With other rebate programs, the cash may be sent directly to you as a lump sum once your photovoltaic system is installed and has passed inspection. Or you may be paid over time, given a set amount of money per kilowatt hour produced by your system until you have recouped the total rebate amount.
Rebate and incentive programs can be difficult to understand and even more confusing to apply for. Fortunately, the professional PV installation experts of Intermountain Wind & Solar specialize in helping homeowners and business owners recover every possible dime from available financial incentives.
We help customers establish their energy independence in Utah, Idaho, Wyoming, Colorado and Nevada. Call us today to learn more about how you can save money on your alternative energy system installation with incentives and solar rebates.