How Can Delaware Homeowners Maximize Solar Savings?
How Can Delaware Homeowners Maximize Solar Savings?
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Delaware offers a variety of solar incentives that make going solar a financially smart decision for homeowners. With the rising demand for solar panels, now is the perfect time to take advantage of these solar rebates and solar tax credits.
One of the most attractive benefits is the Residential Clean Energy Credit, a federal tax credit delaware solar tax credit that reduces the cost of installing a solar system by 30%. For example, if the cost of a 5 kW solar panel system in Delaware is $12,000, this tax credit could bring the cost down to just $8,400! To qualify, you must purchase your system outright (either with cash or a loan), as leasing does not make you eligible.
In addition to federal incentives, Delaware offers Green Energy Program Rebates to encourage homeowners to install solar panels. For instance, Delmarva customers can receive up to $6,000 in rebates for an 8.5 kW system. Newark utility customers benefit from up to $5,000 in rebates, while Delaware Electric Coop offers rebates based on system size. These rebates are an excellent way to reduce your upfront installation costs.
Another lucrative incentive is the Solar Renewable Energy Certificates (SRECs) program. By generating solar power, you earn SRECs, which can be sold for cash. You can expect to make around $180 per year from a 5 kW system during the first decade, making this a valuable long-term income stream.
Delaware's Low- to Moderate-Income Solar Pilot Program also stands out. This program provides free or discounted solar systems for qualifying households, offering an incredible opportunity to access clean energy at minimal cost.
Lastly, net metering allows Delaware homeowners to earn credits for the excess energy their solar panels generate, further reducing electricity bills.
Looking to make the switch to solar? Solar SME is a trusted solar installer in Delaware, providing affordable solar power solutions and backup energy systems that meet your needs. With Solar SME, going solar has never been easier or more affordable.
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