This tax incentive is set to decrease to a maximum of $400 in 2023, and it will no longer be available for solar PV systems in 2024. With most Utah homeowners paying $21,440 for their solar systems, the majority of residents will be eligible for the entire $800 credit. The credit is for 25% of your total system cost up to a maximum of $800 for systems installed in 2022. Utah homeowners have access to the Utah Renewable Energy Systems Tax Credit, which is the state solar tax credit. This incentive provides an upfront rebate for certain solar storage options, based on the size of the battery. Rocky Mountain Power customers who opt to install a solar battery along with their panels will have access to the Wattsmart Battery Program. Rocky Mountain Power Wattsmart Battery Program 3 We’ll include more information on net metering programs and the potential to save money with the policy below. It allows you to offset any energy bills you might have after solar installation using energy you overproduce with your panels. Net metering is a billing policy that isn’t mandated in Utah but is offered by some utility companies in the state. 2 The maximum credit will decrease in 2023 and will no longer be available in 2024. The state tax credit is for 25% of your total system cost up to a maximum of $800 in 2022. Utah offers a state solar tax credit in addition to the federal tax incentive. Utah Renewable Energy Systems Tax Credit (RESTC) The ITC will be changing in the future, and we’ll include information about those changes below. 1 This amount is credited to your federal income taxes for the tax year in which your system is installed. The ITC is for 26% of the total cost of your solar system, which, in Utah, averages out to around $5,574. The federal solar tax credit is available to all Utah residents, as it is offered by the federal government. It will include a short description of each incentive, and we’ll provide additional information for each further below. The table below provides a brief overview of the solar incentives afforded to Utah homeowners. *Note: In 2013, Idaho Power made a request to the PUC to modify its net metering program, resulting in changes to the capacity cap and net excess generation.VIEW MORE Current Solar Rebates, Tax Credits and Incentive Programs in Utah For larger commercial and agricultural customers, NEG is credited at 85% of the monthly weighted average of the daily on-peak and off-peak Dow Jones Mid-C Index prices for non-firm energy and carried forward to the next month. Rocky Mountain Power must submit annual reports to the PUC on net metering participation.įor residential and small commercial customers, net excess generation (NEG) is credited at Rocky Mountain Power's retail rate and carried forward to the next month. In an April 2016 order, the PUC removed both the system-wide capacity cap of 0.1% of peak demand, and the individual capacity cap of 20% of the customer's peak production. The framework of the utilities' net-metering programs is similar, in that each utility's original program: (1) offers net metering to customers that generate electricity using solar, wind, hydropower, biomass or fuel cells (2) limits net metering to 0.1% of its retail peak demand in a baseline year (2002 for Rocky Mountain Power) (3) limits residential systems to 25 kilowatts and (4) restricts any single customer from generating more than 20% of such peak production.* Rocky Mountain Power's net-metering tariff is Schedule 135. However, each of the state's three investor-owned utilities - Avista Utilities, Idaho Power and Rocky Mountain Power - has a net-metering tariff on file with the Idaho Public Utilities Commission (PUC). Idaho does not have a statewide net-metering policy.
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