Solar Power Tax Credits and Solar Rebates
Solar Energy Federal Tax Credit
You may qualify for a tax credit of up to $2000 on your 2012 federal income tax return. The “Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act” (H.R. 4853) gives homeowners the ability to receive:
- 10% up to $500 on insulation and some roofs, and
- 10% up to $300 on non-solar water heaters.
Consult with a qualified tax adviser to confirm eligibility. Visit energystar.gov for more information. Please note, not all ENERGY STAR® qualified products qualify for a tax credit.
- Home improvement tax credit: 10% of cost of the home improvement, up to a maximum of $2000.
- Eligibility: Must be on an existing home & your principal residence. New construction and rentals don’t qualify.
Maryland Energy Administration – Maryland Home Performance Rebate
Marylanders can save up to 50% on home energy efficiency upgrades. The program, designed to bring Maryland closer to achieving its goal of reducing energy consumption by 15% by 2015, offers a 35% rebate toward qualifying home efficiency upgrades. When combined with the existing utility-sponsored rebates of 15% off the cost of qualifying home efficiency upgrades, Marylanders are able to reduce the cost of upgrading their home by as much as half, with the average return on investment at 20-30%.
Eligible Improvements include:
- $100 for energy audits
- 35% up to $1,500 for whole-house air sealing
- 35% up to $1,500 for attic insulation
- 35% up to $1,500 for duct sealing or replacement
- 35% up to $1,500 for wall insulation
- 35% up to $1,500 for insulation (crawl space or basement)
- 35% up to $1,500 for insulation (rim joist)
To qualify for rebates, the total job cost — including the cost of the audit — must be at least $1000. These rebates are offered for a limited time.
Solar Energy World is partnered with Aeroseal of MD for duct sealing on HVAC systems.
Pepco’s Home Performance with ENERGY STAR® Program offers you a great chance to save energy, save money and be more comfortable in your home. A Participating Contractor will assess your home carefully. You’ll find out which areas would benefit from improvements related to energy efficiency.
The audit costs only $100 to the homeowner – the remainder is paid for by PEPCO. And, by making recommended improvements you can enjoy energy savings and receive up to $1,200 in rebates from PEPCO.
The program is open to all homes smaller than 4,000 square feet with one air handler. Only PEPCO customers with central air conditioning and/or electric heating are eligible.
When you participate you’ll be eligible for up to $2,450 in rebates from BGE when making recommended home improvements. Boost your home’s overall appeal while helping to reduce your energy use by up to 20% or more.
PEPCO and BGE rebates are in addition to the MEA rebate and are available for a limited time. All rebates must be applied for separately.