Financing Solar Panels In Ga

Homeowners and business owners can get a 30 percent federal tax credit when.

Financing solar panels in ga.

At the end of 2020 the amount of the credit will decrease from 26 to 22 of the cost of the solar installation. There was a program that offered a credit of 35 of the system s installation cost up to 10 500. The average solar panel system including installation can cost between 15 000 and 25 000 according to the center for sustainable energy. Use the energysage solar marketplace to review multiple equipment installer and financing options.

The latest good news was the passage of the solar power free market financing act which allows georgia homeowners and businesses to use a solar energy buyback program to sell their excess solar power back to the grid. In other words if your panels produce more power than you need you can sell the extra power back to the utility. Solar panel financing is designed to help homeowners come up with the funds they need to purchase a solar panel system. Your electricity bill will be reduced to the tune of 1 100.

Installing a typical 11 1 kw solar system should start at about 33 000. A solar loan is the best option for people who want the tax credits for going solar and can afford a set monthly payment. Here s how the numbers pencil out for a georgia solar purchase with a solar loan or heloc. So the only tax credit you can tap today is the 30 itc that the federal government offers.

Beyond the federal itc georgia offers additional incentives for going solar depending on where you live and who your utility company is. Georgia s net metering policy and high solar potential mean that purchasing a solar panel system or participating in a community solar program are both great deals. To choose the best solar loan for you compare options from a few different financing providers. Georgia doesn t currently have a tax credit for homeowners switching to solar.

However the funding wasn t renewed. That s how big your loan will need to be. Many different institutions offer solar loans including local and national banks specialty financing companies manufacturers and credit unions.