Updated to include 2024 Delaware solar incentives, rebates, and tax credits. Cash in on big savings to help offset the cost of solar panel installation in Delaware.
What local Delaware solar incentives are available?
Delaware is committed to helping its residents make the switch to renewable energy. Below are some of the best Delaware solar incentives you can take advantage of.
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Delaware Green Energy Program
The Delaware Green Energy Program, sponsored by the DE Energy Office, is a three-part state grant for those who use Delmarva Power & Light (DPL), Delaware Electric Cooperative (DEC), or state municipal utilities.
Delmarva Power & Light (DPL) offers a maximum $6,000 rebate for solar panel installation. As more people take advantage, the maximum rebate amount has the potential to drop, so keep that in mind when exploring your options.
The Delaware Electric Cooperative (DEC) offers $0.50 for the first 5kW and $0.20 after 5kW. The DEC also offers a 20% rebate on solar thermal and fuel cell installation costs.
The Delaware Municipal Electrical Corporation (DEMEC) offers solar incentives only to the residents of Newark, DE and is valued at $1.00/W for the first 5 kW and $0.50/W after 5 kW.
Net Metering in Delaware
Net metering is another Delaware solar incentive. Home and business owners get financial credit applied to their electric bills when they produce excess solar energy. Credits generated during the summer can be used to offset the cost of winter electric bills.
Delaware Solar Renewable Energy Certificates (SRECs)
In addition to net metering, the Delaware SREC program enables residents who own solar panel systems to earn money by selling excess power they generate back to the grid. At Solar Energy World, we calculate how much excess energy you are likely to generate from your solar panel installation, and we will set up the automatic system to earn and sell your SRECs.
Federal Tax Credits for Delaware Residents
You don’t have to limit yourself to local or state incentives. You can also take part in a federal program through the Investment Tax Credit (ITC). You can qualify for this credit as a homeowner if you purchase your PV system fully with cash or through a solar loan. You claim the credit when you file your federal taxes for the year. This credit covers 30 percent of your system costs. You can see this is a good year to add solar because federal tax credits are available and they provide a huge deduction.
Interested in solar panel installation for your home? We can help you take advantage of any applicable Delaware solar incentives available to you. Solar Energy World has years of experience providing Delaware solar panel installation services to local homeowners.