At the forefront of Wisconsin’s solar revolution is the mission to enhance accessibility and affordability of clean, renewable solar energy for residents. These incentives not only slash energy costs for individuals and businesses but also propel the state towards its sustainability objectives. Here, we delve into the array of incentives accessible to Wisconsin residents and businesses in 2024.
Continuing its dedication to clean energy, Wisconsin reinforces its commitment with a suite of incentives aimed at fostering solar adoption among both homeowners and businesses. Let’s dive in.
Wisconsin sales tax exemption
New installed solar systems in Wisconsin are exempt from the 5% sales tax by state law, helping to make panel installations more affordable.
Wisconsin property tax exemption
Wisconsin has several laws that promote the use of renewable sources of electricity, including property tax exemptions for new solar installations. Unlike other home improvements that increase the value of your property, like solar, Wisconsin has a statute in place that prohibits photovoltaic devices (such as solar panels) from being included in property tax assessments.
Focus on Energy home solar rebate
The Focus on Energy program is helping install cost-effective energy efficiency and renewable energy projects in the state of Wisconsin. Starting May 1st, 2024 the program will offer residential solar customers a $300 rebate on their solar install. Customers in specific rural ZIP codes may be eligible for an additional $300 bonus. Solar on multifamily buildings will be eligible for a $50 per kW (DC) incentive and an agricultural bonus will match up to $10k.
Net metering
Net metering policies in Wisconsin allow solar system owners to receive credits for excess energy produced and fed back into the grid. This means that when your solar panels produce more energy than their owner can consume on-site, the surplus can be exported back to the grid, earning the owner of the system a credit to be used at a later time.
Federal solar tax credit
In addition to Wisconsin’s state programs and incentives, the federal government also offers property owners who install a solar PV system a healthy tax credit. The Investment Tax Credit (ITC) offers qualifying property owners who install solar panels a 30% tax credit on the total installation cost of their system when that system is installed between now and the end of 2032. In 2033, the federal solar tax credit will decrease to 26%. In 2034, the ITC will drop to 22%. and is set to fully expire for residential projects after 2034.
If you’re interested in learning more about the cost savings available for installing a solar system in Wisconsin (or elsewhere!), talk with a qualified solar installer who can help guide you through the process and make you aware of any solar incentive programs you or your property may qualify for.
