Thanks to generous state-level incentives, solar makes a lot of sense in Maryland! The state offers a $1,000 rebate when you go solar, and Maryland offers Solar Renewable Energy Credits (SRECs) that pay you per megawatt-hour for electricity generated by your solar system. This is in addition to Maryland net metering in which your utility compensates you for electricity sent to the grid from your system.
Benefits and incentives
- Maryland net metering is offered by both Pepco and Semco. Net metering in Maryland pays you a one-to-one credit for the electricity your solar system supplies to the grid. This means that you get paid at the same rate that you are charged when you draw power from the grid.
- Solar Renewable Energy Credits (SRECs) pay you for every megawatt-hour of electricity your solar system produces. For example, a 10-kilowatt solar system in Maryland would be expected to produce 12,000-kilowatt-hours of electricity per year. That translates into 12 megawatt-hours of electricity. In this case, the homeowner would receive 12 SRECs that they can sell to an energy supplier.
- Maryland solar rebate program pays you a $1,000 rebate for installing a solar system on your home.
- Maryland property tax exemption means that home solar systems are exempt from property taxes. This exemption applies to both state and local property taxes.
- Federal tax credit* (also called the investment tax credit) gives you a 26% tax credit for the price of your system. You must owe income tax at the end of the year to collect on this credit. You get up to 5 years after you install your solar system to collect this credit.
You should contact a qualified tax expert and consult with them. Neither Freedom Forever’s family of independent authorized dealers nor Freedom Forever itself can give you tax advice. A qualified tax professional will understand your situation and be able to give you the most relevant advice.
Is solar worth it in Maryland?
Yes, solar makes sense in Maryland because the state gets plenty of sunshine so a solar system can provide abundant electricity for your home. Even when it rains or snows, a solar system will still provide some electricity to your home. Freedom Forever will optimize your solar installation to ensure you can get the most out of going solar in Maryland.
Clean energy for Maryland is an important benefit of solar power
The state of Maryland provides generous incentives for homeowners to go solar so the state can achieve its clean energy goals. These incentives are meant to:
- Reduce greenhouse gas emissions in Maryland
- Shrink the state’s carbon footprint
- Reduce fossil fuel use
- Improve community health by cutting air pollution
Maryland’s goal is to improve the health of Marylanders by reducing pollution at the community level. According to Physicians For Social Responsibility, air pollution takes a terrible toll on a person’s health, it contributes to childhood asthma and higher rates of lung diseases among adults.
Find out what solar power can do for you
Contact Freedom Forever to get more information and/or a free quote for installing a solar system on your home. Many Maryland residents are already reaping the benefits of clean solar energy and you can too. Plus, you’ll be able to enjoy Freedom’s 25-year Production Guarantee.