Right around 173,000 terawatts of solar energy bombard the Earth at all times making it our most abundant energy resource. If we could harvest all of this, it would be enough to power all of the world’s energy needs 10,000 times over.
Solar power is the only logical solution for our society’s energy needs. Once you install some solar panels, it is essentially free energy.
If you live in Indiana and you are interested in solar energy, read on to find out about some great solar energy incentives.
All About Solar Power Incentives
You may already know the benefits of going solar such as saving money on your monthly electricity bill and saving the environment in the process.
But did you know that there are solar energy incentives such as tax write off’s and subsidies for initial solar panel installations? Indiana solar energy incentives used to center around a strong net-metering program.
This means that if you produce more power than you use you can sell it back to the grid at the retail rate and receive solar credits for later use.
While recent legislation has changed many aspects of Indiana’s net-metering program, it still exists for systems that are under 1 Megawatt.
In addition, to get your solar panels functioning at their peak performance Indiana has some solar easements and rights laws.
These help you work with surrounding property owners to maximize the amount of sunlight that hits your panels.
Indiana Solar Tax Benefits
You may already know that a solar panel system adds value to your home. Come tax season, Indiana legislators don’t think this should penalize you.
When it is time to pay your yearly property taxes the assessed value of your photovoltaic system is exempted from your taxes.
In addition to being exempt from property tax, most of your solar system’s parts are exempt from sales tax. Anything involved in the production of electricity is exempt from sales tax according to Indiana law.
In addition, you can receive the benefits of federal solar tax credits in Indiana. The Investment Tax Credit provides you with the option of deducting a significant amount of your system’s total installation costs from your taxes.
This can make it a feasible investment for you particularly if you have high taxes. The most expensive part of having a solar energy system is its initial installation costs.
With this federal tax credit, the cost of this installation is offset. If you want to learn more about what solar benefits you are entitled to as an Indiana resident check out Blue Raven Solar for more information.
Power Your Home With the Sun
There is free energy shining down on your home just waiting to be captured by a solar energy system. Once you switch to solar power, you will be wondering why you ever relied on the utility companies at all.
Make the solar switch today and get your energy needs fulfilled, free from the use of harmful fossil fuels. After that, come on back to our page for other unique and riveting information.