SOLAR SERVICES

Incentives

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Incentives

To encourage the expansion of solar, governments, utilities, and other organizations offer solar tax breaks and financial incentives to make solar more affordable and accessible. With federal and state rebates at their peak, you can achieve the most savings with your solar array by acting quickly.

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Active Incentives

Incentives vary significantly by state. Below is a selection of the most common incentives currently on the market.

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Federal Investment Tax Credit (ITC)

Known as the ITC, this tax credit allows businesses and organizations to deduct a portion of their solar costs from their taxes. The 2020 ITC is 26% of total system costs and the 2021 ITC is 22%. While the ITC is slowly phasing out, there are ways to “safe harbor” the value for projects completed in future years by acting soon.

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State Tax Credits

Similar to the ITC, select states offer tax credits and other financial incentives that decrease your tax burden by installing solar. Credits vary significantly by state. 
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Solar Renewable Energy Certificates (SRECs)

The legal environmental attribute generated from solar is called an SREC. Each SREC is the equivalent of 1,000 kWh of energy. In some regions, the utility or state will pay you for the SRECs produced by your facility’s solar energy installation. 

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Net Metering

In select states, net metering requires utilities to provide bill credits for all electricity produced. Should your system overproduce, energy is credited towards future months of electricity consumption.

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Pivot Energy is a national leader in the development of onsite solar projects and small utility solar projects, including community solar.