Maryland is ahead of the game in the solar industry. The state offers great incentives and net metering to homeowners that go solar. Maryland also gets more than enough sunlight to power the average home. There are many reasons why you may want to go solar as a Maryland homeowner.
Maryland’s Residential Clean Energy Rebate Program (“R-CERP”) offers $1,000 if you and your system fulfill the requirements. You can also take advantage of the property tax exemption and solar tax exemption to not pay property taxes on the added home value from solar or sales tax on your solar installation costs. Maryland net metering is offered by both Pepco and Semco. Net metering in Maryland pays you a one-to-one credit for the electricity your solar system supplies to the grid. This means that you get paid back at the same rate that you are charged when you pull power from the grid. Net metering is required by the state until 1,500 MW is reached. Maryland’s Solar Renewable Energy Credits (SRECs) program allows you to sell excess energy back to participating utilities.
Maryland homeowners are also eligible for the Solar Investment Tax Credit (ITC).*** The ITC allows you to deduct 26 percent of the cost of installing a solar energy system from your federal taxes.
Electricity rates are on the rise. In Maryland, rates have been increasing by 78% since 2002.* When you go solar you may avoid the rate volatility. You may avoid higher rates from the grid if you produce your own energy. If you have batteries, you may be able to save even more because you can avoid grid energy altogether.
Many homeowners decide to go solar to protect themselves against power outages. Whether you want to have uninterrupted power or you are preparing for a worst case scenario, know solar has you covered. As long as you have a system with batteries you can keep your lights on, even when the grid is down. Your dealer can help you determine what batteries are the best fit for you.
The mid-Atlantic oasis is filled with beautiful outdoor scenery. Maryland homeowners looking to preserve the outdoors usually turn to solar. Going solar helps reduce your home’s carbon footprint and greenhouse gas emissions, such as CO2. By going solar you are directly fighting the climate crisis and pollution levels.
You may have noticed that your utility bills vary each month, mostly because you do not use the same amount of energy every month. If you go solar, you can expect less volatility. If you offset your energy consumption, you will only have a minimum bill with your utility. Then you only have to worry about your monthly solar payment, which won’t change during the duration of your loan.
One of the reasons many choose to go solar is to invest in their home and build equity. The average Maryland home is worth $341,148, that’s a 8.5% annual increase from last year.* Keep up with the rising market and put money into your home instead of your utility company.**
