Do you live in Maryland? Are you considering switching to solar power energy? If you answered yes to either of those questions, we can help you with your journey in switching to solar solutions. Solar systems are becoming more and more popular everywhere. But did you know that many states, including Maryland, even offer incentives to those who switch to solar power energy? That’s right! In fact, Maryland offers some incredible benefits for those who opt for solar panels.
Maryland has many incentives for its residents when switching to solar energy. Let’s take a look at some of these offers:
Statewide Solar Renewable Energy Credits (SRECs): This program offers tradable credits for every megawatt-hour of electricity produced by solar systems. Homeowners and business owners can sell these credits in the SREC marketplace to offset the initial investment cost.
Property Tax Exemption: One of the biggest incentives for Maryland homeowners when switching to solar energy is property tax exemption. This means that the assessed due to the installation of a solar energy system, ensuring homeowners can enjoy the benefits of solar energy without higher property taxes.
Sales Tax Exemption: Maryland offers sales tax exemption for the purchase and installation of residential solar energy systems. This way, homeowners can save on upfront costs when purchasing solar panels.
Income Tax Credits: Homeowners and businesses that switch to solar energy systems in Maryland are eligible for a state income tax credit that is equal to 26 percent of the total cost of the system. This credits can be claimed against personal or corporate income taxes.
The incentives mentioned above are just a few of the many benefits offered to Maryland property owners who switch to solar power energy. Are you ready to make the switch? Give us a call today!
