Louisiana is known for its winding bayous, amazing Creole cuisine, and wild Mardi Gras parades, but did you know that it’s also a great state for home solar? Whether you’re in Shreveport or Baton Rouge, you can save thousands of dollars on your electricity costs in the Pelican State when you install a solar panel system on your home. Here are the Louisiana solar incentives and rebates that can help make that happen.
Cut costs with Louisiana solar tax credits and incentives
Louisiana has some of the best solar incentives for homeowners in the country, including:
Louisiana net metering
Net metering is one of the most important regulatory policies for residential solar owners in Louisiana (and many other states across the country) because it allows you to sell any excess solar energy you may have back to the grid. While you are out and about during the day and not using much electricity at your house, your solar panels can be hard at work saving you money.
Home Energy Loan Program (HELP)
The Louisiana Department of Natural Resources offers low-interest home improvement loans to homeowners who go solar or conduct other energy efficiency measures on their property. After getting recommendations from an energy auditor, you can receive a HELP loan with a reduced interest rate to pay for the energy work thanks to funds allocated by the Department of Natural Resources.
The federal solar tax credit
The solar incentives in Louisiana will have a significant impact on your total solar costs, but you can’t forget about the federal solar tax credit, also known as the ITC. Thanks to the ITC, you can reduce the cost of your solar panels system by 26 percent through a credit on your federal income taxes. Remember, however, that the ITC applies only to those who buy their solar energy system with a cash purchase or a solar loan. If you don’t have enough income tax to receive the full credit in a single year, you can apply the remaining value to next year’s income taxes, so you can be sure you receive the full value of this great federal solar incentive.