Harness Utah’s Abundant Sunshine with Lucrative Solar Incentives and Rebates
As the 9th sunniest state in the U.S., Utah basks in an impressive 84.92% of possible sunshine annually, making it an ideal location to embrace solar energy. The state’s commitment to renewable sources, coupled with substantial solar incentives and rebates, presents a compelling opportunity for homeowners and businesses to invest in solar panel systems.
Over the past decade, the cost of solar equipment has plummeted, propelling Utah to rank 12th in solar conversion nationwide. This remarkable progress has made solar power more accessible than ever for property owners across the Beehive State.
Unlock the Benefits of Utah’s Solar Incentives, Rebates, Tax Credits, and More
Federal Solar Tax Credit: Utah residents can take advantage of the Federal Solar Investment Tax Credit, deducting 30% of their solar system costs from their federal taxes. This credit is set to decrease to 22% in 2033 and 2034 before expiring in 2035, making now an opportune time to go solar.
Renewable Portfolio Standards: Utah’s voluntary Renewable Portfolio Standard aims to source 20% of the state’s energy from renewable sources by 2025. To meet this ambitious goal, companies are offering attractive incentives and rebates to encourage solar adoption.
Inflation Reduction Act (IRA): Eligible property owners may qualify for a 30% tax credit on the cost of their solar system under the IRA.
Net Metering: While not mandated by law, Rocky Mountain Power’s net metering program allows solar energy system owners to receive credits for the electricity they contribute to the grid, maximizing the value of their investment.
Clear Interconnection Standards: Utah’s clear interconnection standards streamline the process of connecting renewable energy systems to the electricity grid, making it easier for companies to offer net metering and other solar incentives.
State Rebates: Utah’s state rebate program provides additional financial incentives for those who go solar, helping to offset the upfront costs of installation.
Tax Credits: Utah offers a solar tax credit of up to $2,000, covering 25% of the purchase and installation costs of a solar system. However, this credit was reduced to $800 on December 31, 2022, and will further decrease to $400 in 2024.
Sales Tax Exemptions: The state provides a sales tax exemption for industrial and commercial solar energy systems, including those with a capacity of 2MW or greater.
Solar Easements and Rights: Utah’s solar easement and rights laws protect property owners’ access to solar installation and ensure sufficient sunlight coverage, preventing obstructions from neighboring developments.
With abundant sunshine and a wealth of solar incentives and rebates, Utah presents an excellent opportunity for property owners to embrace renewable energy. Partner with a reputable solar company to explore the best options for going solar and maximizing the benefits of Utah’s solar-friendly policies.
