While solar can help you save on your electric bill, it’s also important to know what incentives and rebates are available for your solar system. Options can vary and change as new programs are put in place to support the growth of solar.
Take advantage of the Federal Solar Investment Tax Credit (ITC)
The solar ITC is a federal tax credit for qualified customers who purchase solar energy systems for their homes.1 The credit is applied to a homeowner’s income tax and is not a tax rebate. Currently the ITC is equal to 26% of the cost of eligible solar equipment until the end of 2020. It decreases to 22% in 2021, so you can save more by going solar this year.1
Veterans and Active Duty Military Rebate
SunPower is honored to support our United States Veterans and Active Duty Military. This SunPower exclusive $1,000 home solar VISA Reward Card rebate2 is for current and former members of all branches of the U.S.
The company has a long history of working with government and armed services throughout the years. Through its commercial solar business, SunPower installed a 28-megawatt solar system at Vandenberg Airforce Base in 2017, and a 10-megawatt solar and storage solution at the U.S. Army's Redstone Arsenal in 2018, to name a couple. The veteran rebate program is a way to continue the company's longstanding military support by extending an exclusive offer through its industry-leading residential business.
State Solar Programs
New York offers net metering (earning credits for sending extra energy back to the grid) and the Solar Energy System Equipment Credit, offering 25 percent of what you pay for a solar installation, or up to $5,000 back in state taxes. New York also recently passed the Accelerated Renewable Energy Growth and Community Benefit Act that will advance renewable energy in the state.3
When it comes to solar rebates, California has some of the most generous local rebates in the country — up to $0.95 per watt (up to $500) for installing solar.
California boasts some of the most widely available net metering programs through various utilities. It’s also one of the states where homeowners can use Property Assessed Clean Energy (PACE) financing to install solar. This allows for solar to be paid for through property taxes over time.3
Similar to the ITC, Massachusetts offers an income tax credit for residents who invest in solar. This state tax credit means 15 percent off the cost of solar equipment, up to $1,000.
The state also offers better rates than average for producing solar energy, net metering, and both sales and property tax exemptions for going solar.3
- 1. Tax credits subject to change. SunPower does not warrant, guarantee or otherwise advise its partners or customers about specific tax outcomes. Consult your tax advisor regarding the solar tax credit and how it applies to your specific circumstances. Please visit the dsireusa.org website for detailed solar policy information.
- 2. Before offer rebate costs will vary, depending on system specifications. Check with your SunPower installation contractor to confirm participation with this offer. Customer must provide military photo ID at time of solar consultation. This offer is only available to customers who purchase a new, complete SunPower system, excluding customers who purchase a new home with existing solar installed. Rebate may not be applied to quotes on existing proposals or past purchases. Cannot be combined with other offers. Rebate form at sunpowerrebate.com must be completed and submitted to SunPower with required documentation within 90 days of the final invoice date. Allow 3-7 weeks for processing. Late submissions or those submitted without proper documentation and signatures will be subject to delay or cancellation. Void where prohibited. Reward Card: SunPower Visa Reward Card issued by MetaBank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. Reward Card expires six months from the date of issuance. Reward Card is subject to MetaBank’s terms, restrictions, and conditions, available at: https://www.giftcards.com/terms. The Reward Card is not redeemable for cash. This promotion is not sponsored by or endorsed by MetaBank or Visa.
- 3. SunPower does not warrant, guarantee or otherwise advise its customers about specific tax outcomes or their ability to qualify for utility credits or other local incentives. Consult your tax advisor regarding the solar tax credit and how it applies to your specific circumstances. Your SunPower Dealer can help you determine if you qualify for other local incentives. Please visit the dsireusa.org website for detailed solar policy information.