GOING SOLAR IN THE FREE STATE
Why go solar in Maryland
Maryland is ahead of the game in the solar industry. The state offers great incentives and net metering to homeowners that go solar. Maryland also gets more than enough sunlight to power the average home. There are many reasons why you may want to go solar as a Maryland homeowner.
Solar incentives in Maryland*
Maryland’s Residential Clean Energy Rebate Program (“R-CERP”) offers $1,000 if you and your system fulfill the requirements. You can also take advantage of the property tax exemption and solar tax exemption to not pay property taxes on the added home value from solar or sales tax on your solar installation costs. 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 back at the same rate that you are charged when you pull power from the grid. Net metering is required by the state until 1,500 MW is reached. Maryland’s Solar Renewable Energy Credits (SRECs) program allows you to sell excess energy back to participating utilities.
Maryland homeowners are also eligible for the Solar Investment Tax Credit (ITC).*** The ITC allows you to deduct 26 percent of the cost of installing a solar energy system from your federal taxes.
Solar panels perform in all kinds of weather
Going solar is a big decision, and although there are many factors you should consider, local weather shouldn’t be a deterrent. Solar panels are designed to work in almost any type of weather… even snow and clouds!
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*This information is current as of May 5, 2021 and figures are approximations. Customers are encouraged to check with their local utility providers for the most up to date and accurate information.
**We advise you to consult with the appropriate professionals (including, but not limited to, your solicitor or attorney, accountant, CPA, CGA, or any other financial or legal advisor) for the implications of any information contained in our website and in any link you access through our website.
***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.