Maryland Is Embracing Solar Power
With some of the highest electricity rates in the country, more and more Maryland residents are turning to solar power for their energy needs. Solar offers the opportunity to have your own independent energy source – free from market market fluctuations and overzealous utility companies.
Maryland enjoys an abundance of sunshine throughout the year, making it an ideal place for generating clean, renewable solar energy. Furthermore, the state offers home and business owners various incentives for adopting solar power, making this an opportune time.
Lower your electricity bills and declare your energy independence today!
Solar Incentives Lower Your Costs
Maryland and federal solar incentive programs help you save big on energy costs. We can help you determine what incentives you are entitled to, ensuring maximum savings for you and your family.
Solar Investment Tax Credit
The Solar Investment Tax Credit (ITC) is a federal incentive that allows you to claim up to 26% of your solar installation’s cost.
The credit will ramp down incrementally from 26% starting in 2019. By 2023, the residential credit will go to 0%, while the commercial credit will settle at a permanent 10%.
Maryland Grant Program
All residents are eligible for the Maryland Residential Clean Energy Grant Program to offset the costs of transitioning to solar. Grants are generously provided by the Maryland Energy Administration (MEA). Currently, one can save $1,000.
Maryland Energy Storage Income Tax Credit
Energy storage tax credit certificates are awarded for systems installed on residential and commercial properties. A tax credit certificate is calculated as the lower amount of:
- 30 percent of the total installed costs of the energy storage system
- $5,000 for an energy storage system installed on a residential property
- $75,000 for an energy storage system installed on a commercial property
*Solar energy storage systems can qualify for the federal ITC (consult with tax professional).
Click here to learn more about the Maryland Energy Storage Income Tax Credit.
In addition to federal and state solar incentives, many localities at the city and town level offer further incentives. As solar energy increases in popularity, more of these incentives are becoming available.
For example, Anne Arundel County offers a one-year property tax credit covering 50% of your installation costs up to $2,500. Meanwhile, Baltimore offers a 50% credit up to $5,000 of installation costs. The same goes for Prince George. Curious about tax credits in your locality, get in touch for more information.
Maryland requires utility companies to participate in the state’s net metering program. It allows homeowners and businesses that generate excess solar energy to offset the cost of power provided by utilities.
In sum, when your solar system sends excess energy to the electricity grid, you receive a credit for the retail value of the electricity.
Should you generate more electricity than you consume during any billing period, your account receives a net credit.
Maryland Solar Renewable Energy Certificates
The electricity produced by your solar panels can be sold to utility companies in the form of Solar Renewable Energy Certificates, also known as SRECs. Every megawatt hour (MWh) of electricity your generator produces equals one SREC. As part of our installation services, Celestial Solar Innovations provides you with everything you need to make the most of your SRECs.
Solar Resources For Maryland Home & Business Owners
We’ve compiles a list of top solar resources for Maryland residents. They cover everything from incentives information, to solar state policies, to electricity rates, and more.
We Cover All Your Solar Needs
Celestial Solar Innovations is passionately devoted to helping you achieve solar independence and take advantage of every incentive available to you. As a local company with deep roots in the community, we cherish every one of our clients, always providing the highest level of service.
T: (240) 409-1148 E: [email protected]