Renewable Energy Rebates & Incentives
Solar Rebates & Incentives
Federal Solar Tax Credit
The Clean Energy Investment Tax Credit (ITC) is the top incentive for solar energy systems in the U.S. If you install solar panels on a home or business, you can claim 30% of project costs as a tax credit on the next IRS filing. The benefit is also available for home batteries and other renewable energy sources beyond solar.
We at the Guides Home Team conducted a solar panel cost survey across all US states. In Atlanta, the average cost of a solar power system is around $3.00 per watt.
- You can expect to pay $15,000 for a 5-kW home solar system.
- The 30% federal tax credit is $4,500 in this case.
- The net cost of your solar installation is reduced to $10,500.
To claim the solar tax credit, you must submit Form 5695 along with your next tax return. We recommend contacting a Certified Public Accountant (CPA) to make sure everything is filed correctly.
If your taxes are not high enough to use the solar tax credit completely, don’t worry: you can use the difference the following year. For example, if you owe $3,500 and your home solar system generates a tax credit of $4,500, the remaining $1,000 will be available for your next IRS filing.
Source Marketwatch.com.
Energy Savings
Georgia Power Home Energy Improvement Program
Incentive Value: 50% of home upgrade costs up to $1,250
Frequency: Once per home upgrade project
The Georgia Power Home Energy Improvement Program (HEIP) does not offer direct rebates for solar energy systems. However, you can claim the benefit if you combine your solar installation with home energy efficiency measures.
To qualify for the Georgia Power rebate, the energy efficiency measures implemented in your home must reduce electricity consumption by at least 20%. The incentive covers 50% of project costs, up to a maximum amount of $1,250. The rebate can be claimed for multiple home energy improvements over time, but the maximum incentive is $1,250 per year.
If you own an electric vehicle and are considering solar for charging purposes, Georgia Power also offers EV charger rebates.
EV CHARGING Tax Credits & Incentives
Federal EV Charger Tax Credit
The U.S. Alternative Fuel Vehicle Refueling Property Credit is a 30% tax credit for the cost of a Level 2 Enphase EV Charger and its installation, up to $1,000. To claim the credit, EV drivers must file Form 8911.
If you purchase and install an Enphase electric vehicle (EV) charging solution between January 1, 2023, and December 31, 2032, your business may be eligible to receive a 30% tax credit up to $100,000 under the 30C Alternative Fuel Infrastructure Tax Credit.
Commonly referred to as the “federal tax credit,” the credit now requires applicants to be in designated census tracts (guidance and maps forthcoming from the IRS) and follow prevailing wage standards.
See the IRS guidance.
Download the IRS form.
Georgia Tax Credits
Electric Vehicle (EV) Charging Station Tax Credit
State EV charging Incentive
An eligible business enterprise may claim an income tax credit for the purchase and installation of a qualified EV charging station. The EV charging station must be located in Georgia and have public access. The tax credit is for 10% of the cost of the EV charging station, up to $2,500. For details on how to apply, including eligibility requirements, visit the Georgia Department of Natural Resources Clean Vehicle Tax Credits website. (Reference Georgia Code 48-7-40.16)
EV Charger Rebate – Georgia Power (Southern Co)
Utility/Private EV Charging Incentive
Georgia Power provides up to a $250 rebate for the purchase and installation of EVSE, with a maximum of two rebates per customer. For more information and to apply, see Georgia Power’s EV Rebates.
Cobb EMC Utility credit
EV Charger Incentive | Save up to $250
Cobb EMC wants to help make it easier to go electric. Get $250 when you install an EV charger, also known as electric vehicle supply equipment (EVSE), in your home. You are eligible for the EV charger incentive if you own a single-family home, install an ENERGY STAR certified level 2 EV charger and enroll in Cobb EMC’s Energy Network.