Wisconsin Solar Incentives and Rebates
Wisconsin is home to a number of solar incentives and rebates that are designed to help residents and businesses take advantage of the benefits of solar power. From federal investment tax credits to state-wide initiatives, there are a variety of options available to help make solar more affordable and accessible.
The Federal Investment Tax Credit in Wisconsin
The federal investment tax credit is currently 22% of the total cost of a solar installation, and can be claimed on your federal income tax return. This credit is available to both homeowners and businesses, and can help offset the cost of solar significantly.
The State Tax Credit in Wisconsin
While there is no state tax credit for solar in Wisconsin, there are still a number of other incentives available. The Wisconsin Department of Natural Resources has information on solar installations in the state, including a list of solar installers and information on available incentives: https://dnr.wisconsin.gov/topic/Sectors/SolarInstallations
State-wide Solar Initiatives in Wisconsin
One of the most popular initiatives in Wisconsin is the Net Metering program. This program allows homeowners and businesses to connect their solar systems to the grid and receive credit for any excess energy they produce.
Another popular initiative is the Focus on Energy program. This program offers a variety of incentives for solar, including $500 for solar panel installation cost, as well as solar financing loans up to $90,000. In addition to these incentives, the program also provides education and resources to help residents and businesses make the most of their solar installations.
The Milwaukee Shines Solar Program also offers $20,000 solar energy loans to residents and businesses in Milwaukee. Clean Energy Credit Union (CECU) is another option for solar financing loans.
Another solar initiative that is popular in Wisconsin is the Greenpenny, this is a virtual bank that offers loans for the installation of renewable energy.
It is important to note that Wisconsin does not conform to State rules on Modified Accelerated Cost Recovery System (MACRS), which is a tax code that allows for accelerated depreciation of certain assets.
State-wide Tax Exemptions in Wisconsin
Solar installations in Wisconsin are fully exempt from state taxes. This means that the cost of a solar installation can be fully written off on state income tax returns.
State-specific Laws on Solar Easements in Wisconsin
There are no state-specific laws on solar easements in Wisconsin. Solar easements are agreements between property owners that allow for the installation of solar panels on one property, but with the right to access sunlight across a neighboring property.
Net Metering in Wisconsin
The power generated by solar panels in Wisconsin is credited through the Net Metering program. Under this program, homeowners and businesses are credited for any excess energy they produce and can use these credits to offset their energy costs.
Benefits of Going Solar in Wisconsin
There are many benefits to going solar in Wisconsin, including reduced electricity bills, increased property value, improved home resale value, and tax incentives. Additionally, solar power is a clean, renewable energy source that can help reduce dependence on fossil fuels and combat climate change.
Conclusion
In conclusion, Wisconsin offers a variety of solar incentives and rebates that can help make solar more affordable and accessible. From federal investment tax credits to state-wide initiatives, there are many options available to help residents and businesses take advantage of the benefits of solar power.
FAQs
What is the average amount of sunshine in Wisconsin?Wisconsin has an average of 2,400 hours of sunshine per year.
Are there incentives for installing solar in Wisconsin?
Yes, there are state and federal incentives available for installing solar in Wisconsin.
What type of solar technology is best for Wisconsin?
Photovoltaic (PV) solar panels are the most common type of solar technology for Wisconsin.
What is the average cost of installing solar in Wisconsin?
The average cost of installing solar in Wisconsin is around $3.00 per watt. Read expert reviews of verified solar installation companies in Wisconsin at SolarEmpower.
Can I store the energy I generate from my solar system?
Yes, solar batteries are available to store excess energy generated by solar systems. Find out more at SolarEmpower.