Financing Solar Panels In Ga

Georgia doesn t currently have a tax credit for homeowners switching to solar.

Financing solar panels in ga.

Here s how the numbers pencil out for a georgia solar purchase with a solar loan or heloc. In other words if your panels produce more power than you need you can sell the extra power back to the utility. To choose the best solar loan for you compare options from a few different financing providers. Beyond the federal itc georgia offers additional incentives for going solar depending on where you live and who your utility company is.

A design of your system to determine the size of your loan a loan application and approval from your loan provider. Homeowners and business owners can get a 30 percent federal tax credit when. That s how big your loan will need to be. 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.

A solar loan is the best option for people who want the tax credits for going solar and can afford a set monthly payment. Installing a typical 11 1 kw solar system should start at about 33 000. There was a program that offered a credit of 35 of the system s installation cost up to 10 500. However the funding wasn t renewed.

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. Use the energysage solar marketplace to review multiple equipment installer and financing options. The center estimates it takes an average of six to nine. At the end of 2020 the amount of the credit will decrease from 26 to 22 of the cost of the solar installation.

The average solar panel system including installation can cost between 15 000 and 25 000 according to the center for sustainable energy. So the only tax credit you can tap today is the 30 itc that the federal government offers. Your electricity bill will be reduced to the tune of 1 100.