Renewable Portfolio Standards
Utah has a voluntary Renewable Portfolio Standard that suggests that 20% of all the state’s energy should come from a renewable source by the year 2025. This means that companies are more inclined to offer aggressive incentives and rebates to help meet that goal.
Utah is a state that offers excellent net metering laws. Net metering offers solar energy credits to owners of systems for the electricity that they add to the grid. This is particularly helpful for those who don’t use all of the electricity that their solar panels generate.
Clear Interconnection Standards
Interconnection standards are the rules that everyone must follow when it comes to how a renewable energy system can be connected to the electricity grid. The clear interconnection standards of Utah make it much easier for companies to offer net metering.
Utah has a state rebate program for those who go solar. This program is another reason why many homeowners are making the solar switch. Solar power rebates help reduce the cost of installing panels, and typically can either be a lump-sum payment or an amount taken off the final installed price. Rebates do require paperwork, but in many cases, the installer will assist with the necessary forms!
In addition to the solar rebates that are available, Utah offers solar tax credits up to $1,200.
Sales Tax Exemptions
If you’re looking for yet another reason to go solar in Utah, the state offers tax exemptions on PV systems that have a 2MW capacity or greater. Opt for a system without having to pay sales tax on it? It’s a win-win for homeowners!
Federal Tax Credit
Utah owners of a solar panel system also get to enjoy a Federal tax credit. Thanks to the solar Investment Tax Credit, those who have installed a solar panel system can deduct 26% of the system’s cost from their Federal taxes. This percentage is expected to lower as the years go on, so be sure to make the switch early so that you can take full advantage of this perk!