Financing Solar Panels In Ga

Solar incentives rebates and tax credits available in georgia in 2020 the most significant incentive to install solar panels for homes and businesses is the federal solar tax credit.

Financing solar panels in ga.

A solar lease is similar to a solar loan in the sense that both are forms of residential solar financing with zero down solar financing options. On a cost per watt w basis a solar panel installation in georgia ranges in price from 2 51 to 3 39. But the similarity pretty much stops there. With a solar lease you are renting your system from a third party owner.

In 2016 i was told that tesla powerwalls or other batteries were likely to come down in cost. However the funding wasn t renewed. Georgia solar program gefa will provide rebates to cities counties and k 12 public schools and will reimburse up to 50 percent or 50 000 whichever is less of the cost of materials design and installation of up to 60 kilowatt kw ground mount or rooftop solar. A bill to be entitled an act to amend article 1 of chapter 3 of title 46 of the o c g a relating to the generation and distribution of electricity generally so as to provide for financing of solar technology by retail electric customers for the generation of electric energy to be used on and by property owned or occupied by such customers or to be fed back to the electric service provider.

Another calculation that potential solar buyers have to consider is the solar payback period. The company buys back my excess solar power at 0 03 per kwh. So the only tax credit you can tap today is the 30 itc that the federal government offers. At the end of 2020 the amount of the credit will decrease from 26 to 22 of the cost of the solar installation.

Georgia doesn t currently have a tax credit for homeowners switching to solar. Review your options below to learn more about each provider. If georgia power increased its buyback rate this system would pay for itself faster. Georgia s average cost of a solar panel installation ranges from 12 538 to 16 962.