Rebates and incentives
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Rebates and incentives |
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Although a solar energy system for your home can be a substantial investment, in many states you can offset the cost through renewable energy rebates and incentives
It’s now easier than ever to finance and pay for your BP Solar Home Solution® system. Many states offer tax incentives to offset the cost of installing solar panels, making it a smart, financially viable energy decision .
Choose your state to see how much you might save.
Save up to 60% of the purchase price with state buy-down programsState- and utility-sponsored incentives ('buy-down' programs) are available in many areas throughout the country. For example, the California Energy Commission is now offering a rebate of $2,300 per kilowatt, or up to almost 30% off the purchase price. New Jersey offers up to 60% off the purchase of a residential system.Deduct system costs with tax credits and exemptionsThe Federal government offers a 30% investment tax credit for the purchase of residential and commercial solar electric systems, making solar more affordable than ever. See your tax preparer for full details.Replace your most expensive electricityMany utilities have or are moving to tiered pricing structures. Tiered pricing structures can charge the home owner more per kWh depending on the total amount of energy used in a given period, the peak amount of power drawn or simply the time of day.
If your utility has tiered rates, a BP Solar Home Solutions® system can offer additional cost savings. By decreasing the amount of electricity you purchase from your utility, especially during peak hours when your solar electric system is producing its highest output, you could fall into a lower pricing tier.
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