Go Solar with North Dakota’s Solar Incentives and Rebates
Many North Dakota homeowners think investing in solar panels is a poor choice since the state ranks last for residential solar adoption. However, going solar is often the best decision as it can lead to substantial savings on electricity bills.
Despite getting enough sunshine to power solar systems yearly, installation costs have dropped by 50% over the past decade. Plus, North Dakotans can take advantage of solar incentives and rebates, making the switch even more affordable. Read on to learn how to benefit from investing in solar energy.
North Dakota’s Solar Incentives, Rebates, and Benefits
Net Metering in North Dakota
Great news for those considering renewable energy – North Dakota has mandatory net metering for all utility companies. Net metering is a valuable billing system that helps lower electricity costs. When your solar panels produce more power than you need, the surplus is sent to the grid, and you earn credits on your utility bill for that excess energy.
North Dakota Solar Sales Tax Exemption
Industrial and commercial solar installations are exempt from the state’s sales tax when purchasing the system.
Check if You Qualify for Solar Rebates and $0 Down Installation!
North Dakota Solar Rebates
While North Dakota doesn’t offer statewide solar rebates, some manufacturers like LG provide their own incentives. For example, LG offers a $600 rebate on equipment that your solar installer can help you claim.
North Dakota Solar Property Tax Exemption
Installing solar panels won’t increase your property taxes for 5 years in North Dakota. Your home’s assessed value for taxes stays the same as before you went solar.
North Dakota Solar Financing Options
Ready to go solar but need financing? North Dakota offers $0 down options like low-interest home equity lines of credit (HELOCs) tied to your home’s value.
Don’t Miss the Federal Solar Tax Credit!
The federal Solar Investment Tax Credit (ITC) lets you deduct 26% of your system’s cost from your income taxes if installed in 2022. This applies only if you own your solar panels.
If you install solar by the end of 2032, the tax credit is 30% of the total system cost, including equipment, labor, and permitting fees. For a $20,000 system, that’s a $6,000 credit.
The ITC drops to 26% in 2033 and expires for residential systems in 2035 unless renewed.
North Dakota’s Solar Perks at a Glance
By going solar, North Dakotans can significantly reduce electricity bills and reliance on fossil fuels. Luckily, the state offers valuable solar incentives you can take advantage of.
If you’re considering solar panels, work with a reputable installer to maximize your solar rebates and incentives.
