Does Idaho Power Have An Incentive For Solar Panels

Idaho lacks any utility rebates for solar power.

Does idaho power have an incentive for solar panels. Idaho power solar contracts idaho power has contracts with 20 commercial solar energy projects that have a combined capacity of 319 mw. The most significant incentive to install solar panels for homes and businesses is the federal solar tax credit. Learn more about our energy mix and our 100 clean energy goal. With an rps in place and the accompanying penalties for utilities that fall short of rps goals you can bet the utilities would start offering incentives to switch to solar power.

Idaho also has a state income tax credit equal to 7 4 of the cost of your solar panel installation that can reduce your tax liability if you invest in solar energy for your home or business. Solar incentives rebates and tax credits available in idaho in 2020. At the end of 2020 the amount of the credit will decrease from 26 to 22 of the cost of the solar installation. All of idaho can take advantage of the 26 federal tax credit which will allow you to recoup 26 of your equipment and installation costs for an unlimited amount.

This is a direct result of the lack of an rps. Nearly 50 of idaho power s energy comes from clean hydroelectricity. Our energy mix also includes wind solar and geothermal resources. Residential alternative tax deduction with the residential alternative tax deduction you can deduct 40 percent of the cost of your solar panel equipment and installation from your personal income taxes.

There may still be other local rebates from your city county or utility. Studies show that most of your home s energy costs go to heating and cooling your home and water heating. Idaho power payment processing p o. Box 5381 carol stream il 60197 5381.

Estimate your solar costs. When you purchase a solar panel system in idaho keep in mind these favorable tax incentives. Idaho solar power incentives tax breaks and rebates while idaho lacks a renewable portfolio standard and rebates for solar power the state allows you to deduct the cost of the pv system from your taxable income over the first four years of ownership which helps improve the project cash flow initially.