*Updated for 2021* Learn about all the ways you can cash in on big savings by making the move to add solar panels to your single-family home this year.
Maryland Solar Grants For Homeowners
Maryland’s Residential Clean Energy Grant Program offers $1,000 grants for homeowners who have installed photovoltaic solar panels. Grant applications must be submitted to the MEA within 12 months of installation, and the installer must be NABCEP certified. If you choose Solar Energy World as your installer, we take care of all the paperwork ensuring you get all available incentives and income-generating benefits.
Maryland Solar Rebates For Businesses
The Maryland Commercial Clean Energy Rebate Program offers similar incentives for Maryland’s government offices, businesses, and non-profit organizations that install solar energy technology, including solar photovoltaic and solar water heating. Rebate amounts vary depending on system eligibility.
State and Local Property Tax Exemption
Photovoltaic Solar energy systems are now exempt from both state and local real property taxes. The exemption applies to both commercial and residential properties.
High-Performance Building Property Tax Credits
Many Maryland counties offer High-Performance Building Property Tax Credits for new or extensively modified commercial and multi-family buildings. Structures must be certified as High Energy Performance buildings.
Local Solar Tax Credits in Maryland
Maryland’s statewide push to go solar has motivated many Maryland counties to offer substantial tax credits for the installation of solar energy systems. Solar Energy World stays on top of current solar incentives, so you don’t have to worry about missing out on these great money-saving opportunities.
$2,500 – $5,000 Credits:
- Anne Arundel County: One-time property tax credit of up to $2,500 for residential dwellings that utilize solar energy for heating and cooling, water heating, and generation of electricity. Applications must be received by June 1, 2021, to be considered for the tax year beginning July 1, 2021.
- Baltimore County: Property Tax Credit up to $5,000 for property owners who use solar energy to use solar energy for heating and cooling, water heating, and energy generation. The credit applies to single and multi-family dwellings. Learn more at Baltimore County Government’s website (Note: there is a waiting list for new applicants)
- Harford County: Property tax credit of up to $2,500 for property owners who utilize solar energy for heating and cooling, water heating, and energy generation. The credit applies to residential and non-residential buildings. Learn more at Harford County’s Property Tax Credits web page.
- Prince George’s County: Alternative Energy tax credit of up to $5,000 for installation or construction of solar energy devices in residential structures.
Federal Tax Credits
The Solar Investment Tax Credit (ITC) helps homeowners offset the expense of buying a solar system. The credit is worth 26% of the total cost in 2021 and 2022, and 22% of the total cost in 2023, but will no longer be available in 2024 and beyond. Homeowners claim the credit when federal tax returns are filed. A similar credit is available for businesses.
Maryland Solar Renewable Energy Certificates (SRECs)
Homeowners and commercial property owners can get a credit on their electric bills for excess solar energy. The energy is added back to the grid, where it is available for use by other utility customers. For example, credits generated during the summer can offset higher electric bills during the winter months.
More 2021 Maryland Financial Incentives for Going Solar
Maryland residents are fortunate to have many financial incentives for making the switch to cleaner, greener energy, along with several non-monetary incentives for going solar.
- Electricity rates in Maryland have increased by at least 78% since 2002. Switching to solar panels and solar energy protects you from this volatile market and saves thousands of dollars in long-term energy costs.
- Maryland is a sunlight-rich state. Weather tracking shows that Maryland receives substantially more sunlight than Germany, which leads the world in solar power.
- The National Solar Jobs Census reports that employment in the solar industry has grown by 170%, employing more than 250,000 workers.
- According to Energy.gov, homebuyers across the nation are willing to pay a premium of about 15% more for homes with solar panels.
- When you install solar power systems, you help combat greenhouse gas emissions, thus reducing our dependence on fossil fuels.
- Unlike non-renewable energy sources, solar energy is beneficial to our health.
- Solar energy systems don’t require water to generate energy, even during a drought or heatwave.
- Maryland has quadrupled its solar energy capacity since 2015.
Energy Storage Rebate Program
Are you considering on-site energy storage? The Maryland solar battery rebate program offers a substantial financial incentive to purchase solar batteries. The tax credit in Maryland is structured similarly to other tax credits for the installation of solar energy.
Interested in adding solar panels to your single-family home?