Tax Incentives — Rebates and Credits
A tax credit is generally more valuable than an equivalent tax deduction because a tax credit reduces tax dollar-for-dollar, while a deduction only removes a percentage of the tax that is owed. A rebate is an amount paid by way of reduction, return, or refund on what has already been paid or contributed. STATE — Solar Energy Grant ProgramMaryland state rebate is determined by total watts and is calculated as follows:
Maximum grant amount remains at $10,000 for a 20 Kilowatt system. FEDERAL — Renewable Energy Tax CreditFederal tax credit - 30% of total cost, there is no maximum amount Eligible sectors: Residential & Commercial http://www.irs.gov Property Tax CreditThis credit is based on your property tax amount and each county varies. Please check Individual County for more details. Simply Solar of Maryland will personally offer a 10% discount to military, police, firefighters and seniorsSimply Solar of Maryland will take care of all necessary paper work and or applications free of charge. **The benefits are endless! The above rebates and credits are in addition to the monthly savings you will see on your utility bill. You are also contributing to reducing our dependency on fossil fuel and helping better the future to come.
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