2024 Solar Incentives Guide for Mandeville, LA - Tax Credits & Rebates

What Solar Tax Credits, Incentives, and Rebates are Available in Mandeville?

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Solar incentives are intended to make renewable energy usage more affordable via financial incentives for those who install solar panels on their homes. Different types of incentives, like discounts, cash back or monthly utility bill credits, might be available to you. Some incentives may be provided via the Louisiana government, by your utility company or by county or municipality, while other incentives are federal. Some solar incentives you might qualify for are:

• Tax Exemptions: Your solar system might qualify for both sales tax and property tax exemptions. Sales tax exemptions are applied at the time of purchase. Property tax exemptions let you ignore the value added by your solar panels when calculating property taxes on your home.
• Tax Credits: These credits are dollar-for-dollar reductions (not deductions) in the amount of tax that you owe the government.
• Net Metering: Make sure you speak to your Mandeville utility company about signing a net metering contract. This allows you to receive credit towards your monthly utility bill for the value of excess energy generated by your solar panels. You may receive either a dollar-for-dollar credit or a percentage of the value.
• Rebates: Solar companies may help you claim a rebate, or partial refund after purchase, for your solar system. States or counties will also sometimes offer limited-time rebates. Any rebates you receive will usually be deducted from the total price before any tax credits are calculated.

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Federal Solar Incentives

When thinking about solar incentives, federal incentives may be the first thing that comes to mind. The solar incentive that you're most likely to have heard of is the Federal Solar Investment Tax Credit (ITC), which provides a credit on your taxes equal to a specified percentage of the cost of your solar system.

The ITC is applied to the total cost of solar panel installation, including the panels themselves as well as accessories, equipment and labor. This credit can be claimed for panels installed after January 1, 2006, on a primary or secondary residence located in the United States that you own. Originally set at 30% of total costs, the credit has fluctuated over time, and you may qualify for different amounts depending on when your project was completed. There is no maximum claim amount.

To know exactly how much the ITC could save you, get in touch with your local Mandeville solar panel installation expert.

In August 2022, the ITC (now referred to as the Clean Energy Credit) was expanded and extended by the passage of the Inflation Reduction Act. With the new provisions, solar installation projects begun after January 1, 2022, and finished by December 31, 2032, can qualify for a 30% tax credit. This credit amount will then see a slight annual decrease until the end of the current Clean Energy Credit in 2035. Beginning in 2023, it will also be easier to obtain credits for energy storage systems under the new laws.

More information about the new Inflation Reduction Act can be found here. The best way to understand how the new Clean Energy Credit will apply to you is to speak with your local Mandeville solar panel installation expert directly.

State & Local Solar Incentives

Some solar incentives are often also offered at the local or state level. As with federal incentives, these can include rebates, tax credits and more. Certain incentives are offered for only a limited time, while others are ongoing. Your local incentives may come from your county or municipality, or from the Louisiana government.

Next Steps for Installing Solar in Mandeville

The nationwide use of solar energy has increased enormously in the last 15 years, in part thanks to the proliferation of solar incentives. You may get these incentives from your local utility company, the federal government or the Louisiana government. When you're ready to switch over to solar energy, reaching out to your local Mandeville solar panel installation expert is an excellent place to start.