Maryland Solar Tax Incentives
Federal, state and local governments offer tax incentives to encourage homeowners and businesses switch to solar. Solarpanel4free stays on top of the latest local solar incentives for you, so that you don’t have to worry about missing out. We also apply for all of these incentives on your behalf so you get the benefit without the hassle.
Federal Solar Incentives
The Federal Residential Renewable Energy Tax Credit allows you to claim a credit of 30% of qualified expenses for a solar panel or solar energy system installed at your home. This federal rebate is ensured through the end of 2019, after which it will begin to decrease incrementally. In 2021, the rebate will be locked at 10%.
Maryland Solar Grants
The Maryland Residential Clean Energy Grant Program currently offer homeowners $1,000 grants for Maryland solar panels up to 20 kilowatts. The Maryland Commercial Clean Energy Grant Program offers similar incentives for Maryland businesses, non-profits, and government offices that go solar. Visit the Maryland Department of Energy’s Solar Progress site to learn more.
Local Solar Tax Credits in Maryland
Maryland’s statewide push to go solar has compelled many Maryland counties to offer solar tax credits as well. Solarpanel4free stays on top of the latest local solar incentives for you, so that you don’t have to worry about missing out.
- Anne Arundel County: One-year property tax credit of up to 50% of your total installation costs (up to $2,500)
- Baltimore County: Property tax credit of up to 50% of your total installation costs OR $5,000 (whichever is lesser). Maximum credit determined your property taxes.
- Harford County: Property tax credit of up to $2,500
- Prince George’s County: Property tax credit of up to 50% of your total installation costs (up to $5,000).
More Maryland Solar Resources
- Maryland Energy Administration
- Maryland State Solar Progress
- Anne Arundel County Solar Tax Credit
- Baltimore County Sustainability Resources
- Harford County Solar Energy Tax Credit
- Prince George’s County Sustainable Energy Program
New Local Incentives Now Available for Solar Lease/PPA:
- Baltimore County: To be eligible for the credit, applications but be submitted within the 12 months immediately following the installation date, Estimated 2-3 year wait, Incentives: The lesser of 50% of materials and installation costs or $5000
- Anne Arundel County: Applications must be submitted on or before June 1, 2016 for tax credits for the taxable year beginning July 1, 2016, Incentives: 50% of the cost of materials and installation of the solar energy equipment, maximum credit of $2,500
Maryland Solar Renewable Energy Certificates (SRECs)
In Maryland, once your system is installed you can earn money by selling excess power you generate back to the grid. We calculate how much excess energy you are likely to generate and we will set up the automatic system so you can earn and sell your Solar Renewable Energy Certificates (SRECs).
More Financial Incentives for Going Solar:
- Solar panels and solar energy products are exempt from Maryland sales tax.
- Maryland electricity rates have increased 78% since 2002. Switching to solar panels and solar energy protects you from this volatile market and saves you thousands of dollars in long-term energy costs.
- Maryland is a sunlight-rich state. Weather tracking shows that Maryland gets 50% more sunlight per day than Germany, a country that leads the world in solar panel installations.
- Solar panel systems increase your home or building’s value. An energy-efficient home often sells faster and at a premium.
Energy storage rebate program for solar batteries:
The Maryland solar battery rebate program offers a financial incentive worth thousands of dollars to homeowners and businesses looking to purchase batteries that can store energy on-site. The solar battery tax credit in Maryland is structured similarly to other tax credits for solar. It offers a credit against state taxes worth 30 percent of the installed cost of an energy storage system.
The value of the credit is capped at $5,000 for a residential project and $75,000 for a commercial project. The rebate program is funded up to $750,000 worth of credits each year. Maryland’s energy storage tax credit was established during the 2017 legislative session and will be offered starting in 2018 through 2022.
