What Are Utah’s Solar Rebates And Incentives?
All the ways Utah homeowners can save on their solar investment
There are plenty of rebates and incentives that promote solar energy in the Beehive State. These incentives aim to make solar more affordable and accessible for homeowners, businesses, and communities. We’ve compiled a few of them below.
Federal Solar Investment Tax Credit (ITC):
This tax credit allows homeowners to reduce the amount of federal income tax they owe by investing in a new solar energy system. For systems installed between 2022-2032, the ITC provides a tax credit of 30% of the system cost, reducing the upfront investment and making solar more financially affordable.
Utah State Tax Credit:
As of 2023, Utah residents can claim a tax credit of up to $400 or 25% of the total system cost (whichever is less) on new solar panel arrays. This credit can help further reduce the upfront cost of going solar.
Net Metering:
Utah has a robust net metering policy, which allows solar panel owners to receive credits for the excess electricity they generate and feed back into the grid. Under net metering, any excess energy produced by solar panels during daylight hours is exported to the grid, and homeowners receive credits that can offset their future electricity bills.
Performance-Based Incentives:
Utah also offers performance-based incentives for solar energy systems through the Renewable Energy Systems Tax Credit (RESTC). This program provides a monetary incentive based on the system's performance over a ten-year period. The incentive is calculated based on the energy production of the system, encouraging efficient and productive solar installations.
Rocky Mountain Power's Solar Incentive Program:
Rocky Mountain Power, the major electric utility provider in Utah, offers a solar incentive program that provides a cash rebate for qualifying residential and commercial solar installations. The program's rebate amount is based on the system's size and performance, providing a financial incentive for customers to go solar and reduce their electricity bills.
Local Utility and Municipality Programs:
Several local utilities and municipalities in Utah offer additional solar incentives and programs to encourage the adoption of solar energy. These programs may include grants, low-interest loans, or other financial incentives to support solar installations. Check with your local utility providers and municipalities for the most up-to-date information about specific programs available in your area.
The Torus Station is the most effective way to create, store, and manage clean, renewable energy at home. Curious? Learn more! Interested in a free consultation? Get in touch! Ready to commit? Customize your system.
