Nebraska Solar Incentives and Rebates
Nebraska is not known for its abundance of solar resources, but that doesn’t mean that residents and business owners can’t take advantage of the benefits of solar energy. There are a number of solar incentives and rebates available in the state that can help offset the cost of installing solar panels.
The Federal Investment Tax Credit in Nebraska
The ITC is a federal program that allows individuals and businesses to claim a credit of 22% of the cost of their solar panel system on their federal income taxes. This can be a significant savings for those who are looking to install solar panels on their property.
State-Level Tax Incentives in Nebraska
While the federal government offers some incentives for solar energy, Nebraska does not currently offer any state-level incentives for solar panel installation. According to the Nebraska Energy Office, “The State of Nebraska does not have any state-specific tax credits or rebates for renewable energy systems.” This lack of state-level incentives is likely due to the state’s relatively low levels of solar radiation and the lack of political support for renewable energy.
State-wide solar initiatives in Nebraska
Despite the lack of state-level incentives, there are still a number of solar initiatives available in Nebraska that can help make solar panel installation more affordable. One such initiative is PACE Financing, which allows property owners to finance the cost of their solar panel system through their property tax bill. This can make it easier for property owners to afford the upfront cost of solar panel installation.
Another initiative is the Sales and Use Tax Exemption for Community Renewable Energy Projects. This program allows for the exemption of sales and use taxes for certain renewable energy projects that are used to benefit a community or group of people. Additionally, the Nebraska Dollar and Energy Savings Loan offers a 5% or 3.5% loan for solar projects and up to 10 years for repayment.
Lincoln Electric also offers incentives for solar panel installation, including a south-facing PV system ($375/kW) and a west-facing PV system ($475/kWh). These incentives conform to State rules on Modified Accelerated Cost Recovery System (MACRS).
State-wide tax exemptions in Nebraska
In addition to the sales and use tax exemption for community renewable energy projects, Nebraska also offers property tax exemptions for solar panel systems. However, these exemptions are only available for systems that are 100 kW or larger. This means that most residential solar panel systems will not qualify for this exemption.
Solar Easements in Nebraska
Nebraska does not currently have any state-specific laws on solar easements. Solar easements are legal agreements that allow property owners to ensure that their solar panels will not be shaded by neighboring trees or buildings. Without state-specific laws, property owners will have to rely on existing easement laws to protect their solar panels.
Net Metering in Nebraska
In Nebraska, the power generated by solar panels is credited to the homeowner through net metering. Net metering allows homeowners to receive credit for the excess power that their solar panels generate and send back to the grid. This can help offset the cost of electricity during months when the homeowner’s solar panels are not generating as much power.
Benefits of going solar in Nebraska
The benefits of going solar in Nebraska include reduced electricity bills, increased property value, improved home resale value, and tax incentives. By generating their own power, solar panel owners can significantly reduce their dependence on utility companies and save money on their electricity bills every month.
There are a number of solar incentives and rebates available in the state that can help offset the cost of installing solar panels. From the federal investment tax credit to state-wide initiatives, there are ways for residents and business owners to take advantage of the benefits of solar energy. Additionally, going solar in Nebraska can lead to reduced electricity bills, increased property value, improved home resale value and tax incentives. With the right incentives, solar energy can be a viable option for Nebraskans looking to reduce their dependence on fossil fuels and save money on their energy bills.
FAQsHow much sun does Nebraska get?
Nebraska gets an average of 4.3 hours of sunlight per day.
Are solar panels worth it in Nebraska?
Yes! Solar panels are a great way to save money on energy costs in Nebraska.
Are there any incentives for solar in Nebraska?
Yes, there are several incentives available when going solar in Nebraska.
Is it possible to get solar without owning your own home?
Yes, there are several companies in Nebraska that offer solar leasing and power purchase agreements, which allow renters to access solar energy without owning their own home. Find expert reviews of solar companies in Nebraska at SolarEmpower.
Are there any solar farms in Nebraska?
Yes, there are several large-scale solar farms located in Nebraska.