The state of Maryland consumes more than five times as much energy as it produces1. By mid-2020, Maryland had 1,122 megawatts of total solar generating capacity installed1. As part of the ambitious goal of reducing the carbon footprint of the U.S. by 50% by 2035, the state and the federal government provide numerous incentives for residents, commercial organizations, and government departments to encourage them to shift to solar energy. Here is a list of the incentives/ rebates available:
Federal Tax Credit
Residents and businesses in Maryland can claim federal solar investment tax credit (ITC) on federal income taxes. They can claim up to 26% of the cost of a solar photovoltaic system for installations in 2020-2022 and up to 22% of the cost for systems installed in 2023. The system should be placed in service during the tax year and generate electricity for a home or the premises of an organization located in the U.S or U.S territories.
State and Local Property Tax Exemption
Photovoltaic solar energy installations in commercial and residential properties are exempt from state and local real property taxes.
Residential Clean Energy Rebate Program
Maryland’s Residential Clean Energy Rebate Program offers $1,000 grants for homeowners who have installed photovoltaic solar panels or solar shingles. The homeowner must submit the grant application to Maryland Energy Administration (MEA) by June 2022, and the installer must be NABCEP certified.
GreenBrilliance is a NABCEP certified solar solution provider and can work with you in installing a turnkey solar system and assist with requisite paperwork.
Solar Rebates for Businesses
The Maryland Commercial Clean Energy Rebate Program offers incentives for eligible businesses, nonprofits, local governments, and State of Maryland government departments that install solar energy technology. The rebate amount depends on the system installed.
Tax Credit Program for Energy Storage
The Maryland Energy Administration (MEA) will award a total of $750,000 in tax credit certificates during the tax year 2021 for residential and commercial taxpayers who have installed an energy storage system on their residential or commercial property in Maryland during Tax Year 2021 (January 1 – December 31, 2021). Do note that the application process must be completed by January 15, 2022.
GreenBrilliance provides hi-tech ‘Made in USA’ batteries to store solar power generated.
Local Solar Tax Credits in Maryland
Some counties within Maryland, such as Anne Arundel County, Baltimore County, Harford County and Prince George’s County, offer additional rebates and credits for residential and non-residential solar installations.
Maryland Solar Renewable Energy Certificates (SRECs)
Homeowners and commercial property owners can get credit on their electric bills for generating excess solar energy. It can offset electricity bills when utilization is higher than the solar energy generated.
Go solar with GreenBrilliance
We have successfully delivered numerous solar solutions to our customers in Maryland. Call us at @ 703-657-0090 or email us @ email@example.com to find out how you can make the most of going solar.