Welcome back to Powering the Future, our series on the vital role of solar home batteries in powering homes and communities. We've already covered important topics like how long a home battery can power your home during an outage, the kinds of appliances it can power, and how it interacts with the electrical grid.
At Intermountain Wind & Solar, we're proud to offer an extensive range of both solar panel services and home battery installation solutions to clients around Salt Lake City, Utah and nearby areas. Our next entry in our series will look to answer a common question: Are government incentives and rebates available for installation of home solar batteries? Let's dive in.
There's a simple answer to this question: Absolutely! Both state and local governments have recognized the fact that solar power systems, including batteries, are costly to purchase up-front - but also provide major benefit to the electrical grid and communities in general.
As a result, there are several different kinds of government rebate and incentive programs for solar power in general - and more and more of these have come to include solar batteries in their offerings over recent years. Our next few sections will dig into the most important such federal and local kinds of programs, plus what to be considering in each area.
Perhaps the single most notable federal program available to home and business owners in terms of solar-specific energy-related benefits is the Federal Solar Tax Credit. This particular credit has been around for years and will last until 2032, and it provides a dollar-for-dollar reduction in income taxes owed by homeowners who install new solar power systems or batteries.
The specific amount of this credit varies from year to year, but it's well worth checking out with your tax professional if you're considering a home battery installation. The IRS will usually release updated numbers for the coming years sometime in the first quarter - contact us at Intermountain Wind & Solar to learn more!
The best part here: Starting last year in 2023, solar home batteries became eligible as part of this tax credit, whether they're charged by your panels or by the grid. There is no dollar amount cap on this credit, and it can even be rolled over year to year if you hit the $0 tax liability point.
As we noted, this program is only set to run until 2032. This means that for any home battery or system installation completed after 2032, this program will not be available. However, there are still options - we'll cover them in the next section of our series!
In addition to federal programs like the Solar Tax Credit, local governments also often provide solar incentives - and these are truly too extensive in scope and variety for us to cover each one here. Suffice to say that there may well be several such options available specifically related to solar batteries themselves.
In Utah, for instance, the Renewable Energy Systems Tax Credit can cover up to 25% of the purchase and installation costs for a system or battery. However, this credit will be expiring this year.
Luckily, Rocky Mountain Power - the largest power supplier in Utah - runs what is known as the Wattsmart battery program, which provides rebates based on battery capacity, plus an ongoing annual credit.
There are some states that offer rebate programs for home solar batteries. These rebates can vary in amount and eligibility requirements, so it's important to check the specifics for your location. For example, California offers a Self-Generation Incentive Program for energy storage systems, including solar batteries.
Other states may have similar programs available - again, do some research or reach out to our team at Intermountain Wind & Solar for more information on what's available in your area.
In other cases, grants may be available for home solar battery installations. These are typically offered at the state or local level and can help cover a significant portion of the cost. Again, eligibility requirements and amounts will vary by location.
In short, there are several government programs available to homeowners looking to install solar home batteries in their homes. Be sure to do some research on both federal and local options, as well as reaching out to our team at Intermountain Wind & Solar for more information and guidance. With potential savings and benefits available, it's definitely worth exploring these programs before making your decision on whether or not to invest in a home battery system. Stay tuned for our next entry in Powering the Future, or contact us to learn about any of our solar power and home battery services around SLC, Utah and Boise, Idaho.
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