Utah Solar Incentives
Now is a great time to go solar in Utah! There are federal solar incentives, Utah state-level solar incentives, and often community-based programs. These can change quickly and our team will help you navigate the latest solar updates to capture the best value for your project.
Contact Creative Energies at 801.487.6489 or info@CEsolar.com today for the latest solar incentives in your area.
Federal Tax Credits, Rebates, Incentive, and Grants for Solar
Solar ITC Details for Residential and Commercial Projects
The Federal Solar Investment Tax Credit (ITC) is valued at 26% of your total solar power system cost through 2022 for residential and commercial properties. This means that you'll receive a tax credit of 26% of your system's cost. This credit is used when residential homeowners or commercial businesses purchase solar systems and have them installed. A tax credit is a dollar-for-dollar reduction of the income tax you owe. If you can’t use the full value in one year, you can roll over the remainder to the next year. You should check with a tax adviser to make sure you can claim the entire value.
The Solar ITC will phase down every year after 2022: the Solar ITC drops to 22% in 2023; then, in 2024 the residential solar tax credit will be phased out and the commercial tax credit will drop to 10%. So take advantage of this Solar ITC now!
The Solar ITC extension is included in the stimulus package legislation H.R. 133.
Solar Backup Batteries Qualify for Federal Tax Credit
Commercial Solar Federal Tax Credit
The commercial solar federal tax credit at 26% applies to all kinds of businesses, including farms, ranches, agricultural businesses, breweries, car dealerships, coffee shops, restaurants, outdoor industry retail shops, bike shops, and more.
USDA Grants for Solar
The United States Department of Agriculture Rural Energy for America Program (REAP) grants provide guaranteed loan financing and grant funding to agricultural producers and rural small business owners to purchase or install solar energy systems. Our team can help you go through the application for solar grants.
Utah Solar Incentives
State Residential Solar Incentives
The Utah Solar Tax Credit (or the Renewable Energy Systems Tax Credit) will cover up to 25% of the purchase and installation cost for residential photovoltaic (PV) projects or a capped dollar amount which will be phased down over the next few years.
25% capped at $1,200 until 12/31/21
25% capped at $800 until 12/31/22
25% capped at $400 until 12/31/23
State Commercial Solar Incentives
For installations of commercial buildings, the tax credit is refundable and is calculated as 10 percent of the eligible system cost or $50,000, whichever is less. The tax credit amount is calculated the same for all eligible renewable energy technologies.”
Utah tax credit expires in 2024
Local Utah Community Solar Programs and Solar Rebates
At this time there isn't a local community solar program in Utah, but more towns are going #SolarForGood with clean energy commitments and Creative Energies has worked on several community-sponsored solar programs in the past. We closely follow and advocate for renewable energy policies and programs, so we'll keep you updated.
You should check with a tax adviser to make sure you can claim the entire value of solar tax credit(s).