Pricing, Program, & Incentive Information for Local MD Residents
With some of the best credits and incentives in the country, installing Maryland solar panels has never been easier or more financially viable.
Solar Panel Incentives & Tax Credits for Maryland Residents
Maryland continues to be a leader in embracing renewable energy initiatives. With access to some of the most attractive solar power tax benefits and incentives available, investing in solar energy has become a sustainable and cost-effective option for environmentally conscious Marylanders paying high-than-average electricity costs.
|Maryland Residential Clean Energy Grant Program|
The State of Maryland will pay out a $1,000 grant to residential homeowners who install solar panels between 1 to 20 kw. Grant applications must be submitted to the MEA within 12 months of installation, and the installer must be NABCEP certified.
Maryland Commercial Clean Energy Grant Program
This program gives out rebates to businesses, nonprofits, local governments, and MD state government agencies and departments that install solar energy systems. Rebate amounts vary depending on system eligibility.
Solar Tax Credits
|Local Solar Tax Credits|
In Maryland, the average localsolar tax credit is between $2,500 – $5,000, depending on which county you live in. Anne Arundel, Baltimore, Harford, and Prince George’s county all have individual solar tax credit programs.
Federal Investment Tax Credit (ITC)
The ITC is a 26% tax credit for solar systems on residential and commercial properties. For residential homeowners, the tax credit is applied to federal income taxes when a system is purchased and installed.
Note: there is an ITC step-down schedule, so the earlier you invest in solar, the bigger your credit. The current schedule is as follows: 26% for projects that begin construction in 2020
22 $for projects that begin construction in 2021
0% (residential) or 10% (commercial) after 2021
Property Tax Exemption for Solar and Wind Energy Systems
Residential homeowners who purchase a new solar system are exempt from paying any increased state and local property taxes due to installation.
Sales and Use Tax Exemption for Renewable Energy Equipment
Residential solar electricity sales are exempt from sales tax. The residential property must be owned by someone who is net metering eligible.
Maryland Energy Storage Tax Income Credit (2020)
If you’re a residential or commercial homeowner who has installed an energy storage system between January 1, 2020 – December 31, 2020, you may be eligible for a battery backup tax credit of 30% of your installed costs up to $5,000.
Other Programs & Incentives
|Solar Renewable Energy Certificates & Net Metering|
Homeowners with solar panels installed have the opportunity to earn money from the power they generate. SRECs generated by solar panels are sold to utility companies in order to help them meet state-wide sustainability goals.
Property-Assessed Clean Energy (PACE) Financing
Available only to eligible property owners, PACE financing provides loans for sustainability-focused home-improvements, including the installation of solar panels.
Maryland Solar Panel Program & Pricing Information
If you live in Maryland, you know electric prices are high — in fact, they’re about 21% higher than the national average. The best way to approach solar panel installation is to combine one or more of the tax credits and incentives above with one of the pricing options below.
Zero money down options and more…
|So, how much do solar panels cost in Maryland? It depends on whether or not you’d like to invest with or without cash down, and if you’re interested in owning or leasing your panels. There’s also the option of going solar with our RateGuardian ™ PPA (Power Purchase Agreement), where you can literally pay nothing for both solar panels and installation.|
Purchase With Cash/Credit/Traditional Financing
Those who own their solar systems see an average of 50-100% savings on their monthly utility bill.
We also offer $0 down financing options to homeowners who wish to own their system, based on creditworthiness.
Purchasing a solar panel system in Maryland can also generate income; homeowners can sell their SRECs for hundreds of dollars a year.
Lease or choose our RateGuardian™ PPA to Pay $0
One of the most popular ways to acquire residential solar is to enter into a Power Purchase Agreement or Solar Lease. Pending a credit approval, our PPAs and Leases enable homeowners to put down $0 in up front costs for solar panels and installation. With our Solar PPA, residents pay nothing for solar panels and installation are able to lock in a lower rate than their utility that can lower their utility bill by up to 30%.
In layman’s terms, Solar Energy World owns the solar panels and installs them at no cost to you. We then sell you back the electricity the panels produce at a locked in rate that is lower than the variable rate that your utility company charges.
Same Top Service and Quality No Matter Which Option you Choose
https://www.solarenergyworld.com/install-process/products/Whether you purchase or lease or choose our RateGuardian™ PPA, solar panels increase your home’s value. Plus, with Maryland solar panels from Solar Energy World, we guarantee a 20 -25 year warranty depending upon panel brand, plus 24/7 live monitoring and diagnostics support. We also offer solar battery backup for those who want power during outages.
Why Choose Solar Energy World for Your MD Solar Panel Installation?
As a top-rated solar panel installer in Maryland with 88 years of local service, we at Solar Energy World pride ourselves in helping MD residents and businesses reduce their ecological footprint and save money. Every one of our solar panel systems are custom designed to fit both your financial and energy production needs.
We understand that investing in solar energy is a big decision, and we’re here to help. Not only will we guide you through your investment options, take care of all the paperwork, and let you talk to our happy customers, we never hire any outside subcontractors and only use the most superior solar panel products — many of which are American made.
If you’re thinking about investing in solar panels for your Maryland home, give us a shout today. Feel free to call us at 866.856.4580 and speak with one of our local solar experts, or get started right away with our free, customized solar estimate.