Solar Tax Incentives & Rebates
Tax incentives and utility rebates make solar more affordable than ever, allowing you to invest in a solar system with no risk. Be sure to contact your tax professional to check your eligibility for certain tax incentives.
Federal Tax Credit
Homes and businesses going solar may qualify to receive 26% of the full cost of their solar energy system back as a credit against their total tax liability for the year the system was installed. This credit may be used all at once or spread over five years.
The Federal Tax Credit will decrease to 22% in 2023. In 2024, homes going solar will no longer qualify for a Federal Tax Credit and businesses will go to a permanent 10%.
Receive a cash rebate on your solar system from Ameren, Empire/Liberty, Kansas City Power and Light and Columbia Water and Light. These rebates are only offered for a limited time, so reach out to your utility company as soon as possible to reserve your rebate money for going solar.
Businesses going solar may also depreciate 100% of the their solar energy system and recoup up to 21% of original system price. This money may be recovered in the first year of purchasing the system or spread out over several years.
Businesses located in rural areas may be eligible for a REAP grant, providing up to 25% of your total cost to go solar along with a loan guarantee.
With a PACE loan, you can finance the cost of your system for up to 20 years and add your repayment to your yearly property tax. Through this program your business may also be able to pay for energy efficiency and LED lighting with a long-term, fixed-rate loan.
Making the decision to install solar panels on your home or business can be a daunting task. The bottom line is that only Sun Solar met my full criteria list, did an outstanding job for our company and have been a true pleasure to work with. I honestly recommend Sun Solar without reservation.Brad Wommack, Wommack Monuments
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Start seeing the benefits of solar as soon as your system is installed. Use our Solar Savings Calculator to discover how solar could slash your utility bill for years to come.