The United States has been experiencing a green energy renaissance. It’s now more affordable and easier than ever to stop using traditional power sources like coal and oil and start using wind, solar, and other renewable clean resources to power your home. Some states and cities have taken more to alternative green energy sources than others. Solar energy in San Francisco is booming, and states like Tennessee and North Carolina have been making it easier for their citizens to use wind and solar.
There are many reasons why people choose to use green energy sources to power their home. Some do it because they care about the environment, and others do it because they want to save money on their energy bills. Now some people may be switching to green energy because they think it’ll help them earn more green for their wallet.
It isn’t a secret that many states offer their residents tax incentives, subsidies, and even grants for homeowners that choose to install solar panels so that they can cut back on their reliance for traditional energy sources. The personal finance website NerdWallet did a report on which states give their residents the most money back for installing solar panels on their homes. In order to rank the states, they focused on four main factors: The expensiveness of energy bills, the amount of economic incentives states offer, the sunniness of states, and the state’s existing solar capacity. When you read their list, you may be surprised to learn which states are doing the most to promote solar power.
1). California
You shouldn’t be surprised to see California at the top of the list. California has some of the most expensive electricity costs in the country, but it’s also one of the few states that has made a commitment to transitioning the population to renewable energy forms. The state has the goal of deriving 1/3rd of the state’s electricity from renewable resources by 2020, and the state is hoping to convince their residents to make the switch by offering them a lot of incentives. San Francisco alone has cash back incentives that range from $2,000 to $10,000 depending on household income.
2.) Hawaii
Hawaii is the perfect place to switch the solar. The state has very high electricity costs, nearly $0.36 per kilowatt hour. Its close proximity to the equator guarantees that this state has plenty of sunlight, and the government has done a lot to ensure that switching to solar is beneficial for its residents. The state’s residents have the option of receiving a 35% state tax credit, along with the national 30% personal tax credit.
3.) Arizona
Arizona has very high electric costs and an abundance of desert sunshine, in other words they’re the perfect state for switching to solar. Arizonians have the option to participate in solar leasing, or they could get panels installed on their home. The government has made switching to solar extremely affordable for their residents. Homeowners can have the state cover up to 50% of installation costs, and receive a 25% tax credit that is applied to the residents’ income taxes.
4.) Maryland
Maryland hopes to have 20% of their state’s energy come from renewable resources by 2022, and they’re offering their residents incentives to make it happen. Almost all homeowners in the state qualify for $1,000 to go towards installation costs, and they receive cash back from their local utility company for every kilowatt they produce. On top of state property and sales tax exemptions, Maryland residents that make the switch to solar stand to save a lot of money.
5.) Delaware
Delaware is famous for its lack of sales tax, but soon it could be known for its high number of residents with solar power. The state wants to generate 25% of its energy from renewable resources by 2025 or 2026. The state offers its residents installation rebates that are based on the size of their home’s solar system. The first 5 kilowatts can get home owners $1,250 per kilowatt, and $750 on the next. With their rebate system, their solar panels should be able to pay for itself in 5 years.