Once you install a solar power system, no one can build a structure casting a shadow over your panels. Georgia has solar easement laws that protect access to sunlight. Incentive Value: Guaranteed access to sunlight for solar panel owners If you own an electric vehicle and are considering solar for charging purposes, Georgia Power also offers EV charger rebates. The rebate can be claimed for multiple home energy improvements over time, but the maximum incentive is $1,100 per year. The incentive covers 50% of project costs, up to a maximum amount of $1,100. To qualify for the Georgia Power rebate, the energy efficiency measures implemented in your home must reduce electricity consumption by at least 20%. However, you can claim the benefit if you combine your solar installation with home energy efficiency measures. The Georgia Power Home Energy Improvement Program (HEIP) does not offer direct rebates for solar energy systems. Incentive Value: 50% of home upgrade costs up to $1,100 Georgia Power Home Energy Improvement Program Once the loan is paid off, you will have a free electricity source for decades. Loan payments will consume most of your power bill savings initially, but consider that high-quality solar panels last more than 25 years. With the Home Plus Loan Program, you can split your solar investment into smaller payments over an eight-year period. The program lends you up to $25,000 for eligible home upgrades, with an APR of 9.90% and an repayment period of up to 96 months. These loans can be used for solar installations and many types of energy efficiency measures. Incentive Value: Green loans with 9.90% APR and a term of up to 96 months.Ĭentral Georgia Electric Membership Corporation (EMC) is an electric cooperative that serves more than 62,000 customers in 15 counties: Bibb, Butts, Clayton, Fayette, Henry, Jasper, Jones, Lamar, Monroe, Morgan, Murray, Newton, Pike, Putnam and Spalding.Ĭentral Georgia EMC offers financing options through the Home Plus Loan Program. Central Georgia EMC Home Plus Loan Program However, solar easement laws protect your access to sunshine, limiting any constructions that could cast permanent shadows on existing solar arrays. Unfortunately, Georgia does not offer solar rebate programs and tax incentives as of 2023. This means that solar panels can generate more electricity than in many other U.S. Georgia gets plenty of sunshine, just slightly less than the neighboring state of Florida. However, the incentive is not available for solar leases and Power Purchase Agreements (PPA). You can claim this benefit if you purchase your system in cash or using loan financing. Keep in mind that the solar investment tax credit is only available if you own the photovoltaic system directly. For example, if you owe $3,500 and your home solar system generates a tax credit of $4,680, the remaining $1,180 will be available for your next IRS filing. If your taxes are not high enough to use the solar tax credit completely, don’t worry: you can use the difference the following year. We recommend contacting a Certified Public Accountant (CPA) to make sure everything is filed correctly. To claim the solar tax credit, you must submit Form 5695 along with your next tax return. The net cost of your solar installation is reduced to $10,920.The 30% federal tax credit is $4,680 in this case.You can expect to pay $15,600 for a 6-kW home solar system.In Georgia, the average cost of a solar power system is $2.60 per watt. We at the Guides Home Team conducted a solar panel cost survey across all US states. The benefit is also available for home batteries and other renewable energy sources beyond solar. If you install solar panels on a home or business, you can claim 30% of project costs as a tax credit on the next IRS filing. The Clean Energy Investment Tax Credit (ITC) is the top incentive for solar energy systems in the U.S.
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