Solar for residents
Madison residents have many incentives for the purchase of solar energy systems.
Financial Incentives
- Federal Tax Credit – Covers up to 30% of a residential solar energy system
- Focus on Energy Incentive – FOE pays up to 35% of the system cost (Currently suspended)
- The system adds value to your home but does not increase your property tax bill. Solar energy systems are exempt from property tax.
- Check Database of State Incentives for Renewables & Efficiency (DSIRE) for a comprehensive source of information on state, local, utility and federal incentives:
Energy Saving Incentives
From the date of installation, a solar electric system will reliably produce electricity during daylight hours for more than thirty years. As the cost of utility supplied electricity inflates, the actual energy savings from the solar system will increase.
Solar energy prices have fallen over 40% from 2010 to 2012. For some homeowners that can tax advantage of incentives and lower pricing, solar now costs the same or even cheaper on a per kWh basis when the cost is considered over the life-time of the system. Check with your solar installer and tax-advisor to find out what incentives you are currently eligible for.
Integrating energy efficiency measures into your building can further increase energy savings.
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