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Get Solar Incentives | Join the Rise of solar energy in United States today

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  • Get Solar Incentives | Join the Rise of solar energy in United States today

About The Solar Brokers

Explained in more detail by the Energy Administration of Maryland

Buying a solar system for your yard or rooftop can provide you with a big tax incentive with the recent laws of Solar Energy in United States. The electric grid is used as a battery with the help of net metering by absorbing the excess solar energy from the PV panels and returns it to the home when required. High rates of electricity have made many people shift to solar energy in United States. 

An energy credit is provided to the resident when excess energy flows to the grid. Later on, if it is found that the solar array is not producing the energy and the excess energy is already used, the credit is then cashed for energy. A generation meter is installed on the outer side of the inverter to accomplish net metering. Another way to accomplish net metering is to install a power meter that can control the reading by increasing or decreasing on the basis of the direction of the flow of energy. 

The residents who have solar panels installed in their homes utilize the panels to store the excess energy during summer to increase the net metering credits. Whereas in winter, less sunshine leads to less solar energy which lets the customers use the credits. Each year in April, the net metering credits expire. So you must be aware of using the credits before April to avoid wastage of energy. 

The Solar Brokers provides various certificates, tax benefits, and grant programs to its customers following the rules and regulations of the energy administration of Maryland.

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Residential Clean Energy Grant Program

When you install solar energy in Maryland, the state will pay the owners $1000 as part of the Maryland Clean Energy grant, as long as the installation took place at the main residence. Delaware also has some great incentives for going solar which includes up to .60 and .70 cents per KW depending on which utility you are in, which could be up to $7,000 for a 10KW system! These are in addition to the Federal ITC incentive.

Solar Renewable Energy Certificates (SREC)

The owner of the solar system will receive an SREC for every megawatt-hour of energy produced by your home. The Solar Renewable Energy Certificate or SREC will consist of a dollar value that can be sold at the market for SREC. A simple explanation would be is if your solar system makes 10,000 kwhs annually, this means you would receive 10 SRECs a year which is 1 SREC for every 1,000 kwhs you produce. In Maryland you can currently get up to $75 an SREC, and in PA and VA we are starting to see $30-$40 per SREC, and of course there is the number 1 SREC spot in the nation which is DC which currently is around $400 per SREC!

Maryland Net Metering

This is a State policy that allows homeowners to receive full credit on their utility bills for any
extra electricity that their system may produce. Consider it a way to bank or store excess energy
that can be used at a later time for when homeowners need additional energy than what their
panels are producing for that day.

Maryland Solar Tax Benefits

In order to avoid excessive tax bills as a result of solar panels home installation, Maryland provides tax breaks on the purchase of the solar system. Homeowners are not required to pay taxes on the value of the solar system that is increased after its installment. This is stated by the Property Tax Exemption for Solar and Wind Energy.

Federal Solar Tax Credit

With the Federal Investment Tax Credit (ITC), homeowners can reduce the cost of their system
by as much as 26% as long as they: purchase or finance the system, and meet the minimum
income requirements.