How Does Solar Work In Wisconsin – Wisconsin is on the horizon of becoming one of the best states for residential and commercial solar power thanks to their legislation, incentives, sun hours, and production. Wisconsin solar panel policies like Net Metering make solar energy worthwhile the possibility of saving money on your electric bill.
Wisconsin Solar Power Incentives, Tax Breaks and Rebates
1. Federal Tax Credit (Solar ITC)
Nation-wide federal legislation makes available the Federal Tax Credit, otherwise known as the Solar ITC, to all Wisconsin homeowners. This tax credit funds you 26% of the total cost of your solar energy PV system.
This incentive makes solar a great option to realize cost-savings and price reduction, often resulting in a lower monthly electric payment.
The Solar ITC was set to expire in 2020, but was extended for another three years. In 2021, the ITC will cover 26% until December of 2022. This federal legislation was passed in order to keep the solar power industry healthy and viable for energy production, as well as helping homeowners save money on electricity costs.
2. Wisconsin Solar Rebate
For Wisconsin homeowners who install a solar energy system on their home in Wisconsin, it is likely that they qualify for a solar rebate from Focus on Energy. The size of your solar panel system does not affect your rebate. Wisconsin homeowners can receive a $500 rebate that will decrease the permitting and interconnection labor cost associated with installing your solar panel system. View the Focus on Energy website to see if your current utility company offers this incentive.
Net Metering in Wisconsin
Wisconsin has one of the best Net Metering policies, further establishing the state as an attractive state for solar.
One of the best things about solar is that you do not need a battery to guarantee that you’ll have electricity when you need it. Thanks to net metering in Wisconsin, your excess solar energy that your solar panel system produces will be sent back to the utility grid. In return, you will receive credits on your utility bill. When your home needs more electricity than what your panels are producing, the credits you received from your excess production will be used to make up the difference. This is how solar remains affordable and attractive year round, even in colder climates.
Talk with one of our Wisconsin solar energy specialists to see what Net Metering can do for energy savings on your home.
Increase In Home Resale Value
With new verified research coming out over the years, it is now proven that solar panels can increase the value of your home on the real estate market. According to a study by the University of California, Berkely, numbers do vary based on location, city, and state, but studies have concluded that for every 1 kilowatt of solar panels installed on your property, the value of your home can increase anywhere between $4,000 – $6,000. For example, the average system size in Wisconsin is 7 kilowatts. This means your home can increase in value anywhere between $28,000 and $42,000 in resale value.
How Many Solar Panels Does My Home Need?
Each home’s energy needs are calculated off of past utility bills. For the most accurate assessment, we take the most recent 12 months of your power usage, and input them into our Sunlight software that takes into account sun hours, roof space, panel type, usage and more. The average system size is 7 kilowatts, which can often result in anywhere from 16-40 solar panels needed, depending on the type of panel and other factors. Tron Solar provides these designs free of charge. Our experts will take care of all calculations for you and are happy to walk you through exactly what your home’s design and savings will look like with solar.