Our team of specially solar-trained representatives can take the guess work out of navigating the different tax credits, rebates, incentives, loans, and grants that might be available to you as a customer.
Live Wire Solar will research available incentives and incorporate them into a comprehensive proposal or portfolio. If the project moves ahead, we’ll proactively file for available rebates and incentives.
Federal Solar Photovoltaic (PV) Incentives
Some of the most common incentives on the national level include:
- 30% Residential Renewable Energy Tax Credit: A solar PV array owner can claim a credit of 30% of qualified expenditures for their home. This is not a deduction; it is a dollar-for-dollar credit on any federal taxes owed. The tax credit begins to step down after 2019: 26% in 2020, and 22% for 2021-2022. View the federal tax form here.
- 30% Business Energy Investment Tax Credit (ITC): A business can also claim the 30% tax credit. The step down also begins after 2019, but then continues at 26% in 2020, 22% in 2021, then 10% from 2022 onward. View the ITC federal tax form here.
- Modified Accelerated Cost-Recovery System (MACRS): Under the federal Modified Accelerated Cost-Recovery System (MACRS), businesses may recover investments in certain property through depreciation deductions. Solar PV arrays are classified as five-year property (26 USC § 168(e)(3)(B)(vi)) under the MACRS, which refers to 26 USC § 48(a)(3)(A), often known as the energy investment tax credit or ITC to define eligible property. Check out the tax form for MACRS here.
- Bonus Depreciation: Bonus Depreciation has been sporadically available at different levels during different years. Most recently, The Tax Cuts and Jobs Act of 2017 increased bonus depreciation to 100% for qualified property acquired and placed in service after September 27, 2017 and before January 1, 2023. Check with your tax professional.
- Net-Metering: Simply put, net-metering means that customers with solar PV arrays will be credited for each kWh produced by their system and have it applied to their electric bill. Specifics rules of net-metering may differ depending on the electricity provider. Investor-owned public utilities: Projects of 1 MW in capacity or less. Solar PV arrays greater than 40 kW in capacity may be limited up to 120 percent of annual electric consumption. Municipal Utilities and Electric Co-ops: eligible systems are sized to 40 kW or less. Munis and co-ops may charge net-metered customers fees for solar interconnection. Details in the MN Statute can be found here.
- 2019 Xcel Solar Rewards program: Starting January 28th, the 2019 Solar Rewards Program will be available. The incentive is $0.07 per kWh produced for residential systems and $0.06 for commercial systems, paid out once a year, for 10 years. View details here.
- 2019 Solar Rewards for Income-Qualified Customers The 2019 Solar Rewards Program has an income-qualified parameter to encourage solar PV installation. The incentive is $0.07 per kWh produced for residential systems, with an up-front incentive of $2.00 per watt. View details here.
- 2019 MN Power SolarSense: A PV system’s estimated first annual energy output is multiplied by $0.78/kWh. The total combined rebate and incentives cannot exceed $20,000, or 60% of installed costs, whichever is less. View details here.
- 2019 Dakota Electric Solar program: $0.50 per watt of installed solar, not to exceed $4,000. View details here.
- 2019 Focus on Energy Solar Rebate Program: Earn up to $2,000 (residential) and $4,000 (business) in incentives for installing a qualifying solar electric system. View details here.
- A variety of other rebate programs (to numbers to list here) are available throughout MN and Wisconsin. Contact Live Wire Solar and a representative will seek out every possible source of funding and incentive.
MN Solar Photovoltaic (PV) Incentives
Some of the most common incentives for the state of MN include:
WI Solar Photovoltaic (PV) Incentives
Some of the most common incentives for the state of WI include: