Mississippi, with its abundant sunshine, approximately 220 sunny days per year is poised to harness solar energy as a key component of its renewable energy strategy. Despite having one of the highest average costs for solar panel installation in the country, recent incentives as stated below aim to transform the state’s solar landscape, making it more accessible and financially viable for homeowners.
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Federal Solar Investment Tax Credit (ITC)
The Federal Solar Investment Tax Credit (ITC) is a nationwide incentive that significantly reduces the cost of solar systems. Mississippi residents can take advantage of this tax credit, which amounts to 30% of the total system cost, including installation.
Mississippi Solar Rebates
In 2022, the Mississippi Public Service Commission implemented a program that pays homeowners a one-time rebate of up to $3,500 for installing a solar system. This initiative is designed to offset the upfront costs of solar installation and encourage more residents to consider solar energy.
Net Metering in Mississippi
Mississippi offers a program similar to traditional net metering. Credits for excess solar energy sent to the grid are equal to the avoided energy cost rate plus an additional 2.5 cents per kWh. This program ensures that homeowners can receive financial benefits for the surplus energy their solar systems produce.
Local Incentives
Various local incentives for green upgrades are available depending on the power company. These rebates can vary but contribute to making solar energy a more attractive option for Mississippi residents.
Mississippi’s solar incentives, including the Federal Solar Tax Credit, solar rebates, and net metering programs, provide a solid foundation for the adoption of solar energy. While the state may not offer as many incentives as others, these programs still present significant financial benefits for those looking to invest in solar energy.
Further information and programs can be found at the Programs.Dsireusa.org
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