Renewable Portfolio Standards Have Been Met
Montana already met its Renewable Portfolio Standards. Good going! States give themselves a goal such as to generate 25% of their required power from renewable sources by a certain year. Montana met its goal and the RPS is no longer needed to drive progress.
Net metering is a system in which solar panels or other renewable energy generators are connected to the public utility, allowing customers to offset the cost of the power they draw from the utility with credits they earn on their own production. If your system produces more energy than you need, the excess power is sold to the grid, which you see as a credit on your power bill. Montana has these laws, smoothing the way to get a solar system connected to the public grid.
The state’s standards for connecting private solar power systems to the grid are clear and simple statewide. This makes net metering more effective.
State Rebate Program
Through NorthWestern Energy, Montana offers a strong state rebate program.
State Solar Tax Credit
The credit is good for 100% of the purchase and installation costs of a solar system, up to a maximum of $500. You simply deduct the amount from your tax payment, rather than as a deduction from taxable income.
Property Tax Exemption
A property tax exemption means that the increased value of your home after a solar energy system is installed will not raise your property tax. You continue to pay the same property tax you would have paid without the system.
Federal Tax Credit
In addition to these many rebates and incentives in Montana, of course you also get the hefty tax credit from the Federal government. The solar Investment Tax Credit (ITC) is worth 26 percent of the system cost, and will be deducted from your Federal income tax. The credit goes to the system’s owner, it’s important to note. Be sure to buy yours with cash or a loan. If you lease a system, then the incentives go to the third-party owner.