Many fellow Georgians have turned to solar energy systems to generate their own electricity. As of 2020, Georgia had enough solar installed to power 312,450 homes. Georgia's solar market is projected to grow to 1,924 MegaWatts over the next 5 years.
The best way to compare your solar options and save money at the same time is by registering on the EnergySage Marketplace. When you compare quotes for solar panels on EnergySage's competitive solar marketplace, you can expect to see prices up to 20% lower than working with a single solar company.
What are the top Georgia solar tax credits and incentives?
Not only will going solar enable you to generate electricity for your own use, but you may also be able to sell it back to the utility as well, thanks to a policy known as net metering. Under this policy, participating utilities will measure the amount of excess solar electricity you put on the grid and pay you a rate determined by Georgia’s Public Service Commission.
The Georgia net metering rate is set at the utilities’ avoided cost, which refers to the rate that the utility would otherwise pay to power generators. They would have had to pay to a large electric power plant if they had not bought it from you and your panels. In 2016, for example, the utilities would pay you between $40 and $60 for each megawatt hour (MWh) you generate; if you install a 5-kilowatt (kW) system that generates 5 MWh per year, you could sell the electricity for $200 to $300. Georgia Power offers the top utility net metering program in Georgia.
The federal solar tax credit
Don’t forget about federal solar incentives! With the Investment Tax Credit (ITC), you can reduce the cost of your PV solar energy system by 26 percent. Keep in mind that the ITC applies only to those who buy their PV system outright (either with a cash purchase or solar loan), and that you must have enough income for the tax credit be meaningful.