Maryland New City Hero

Maryland Solar Incentives

Take a Look at the Benefits of Going Solar in Maryland

-45%

Maryland’s solar price drop over the last five years.1

10%

Solar power in Maryland is more cost-effective vs. other states.2

50%

State electricity generation that will come from renewable energy sources by 2030.3

Residents in Maryland pay over 20% more for their home electric bills compared to the national average,4 but increasing control of their energy usage and cost isn’t the only reason Marylanders choose to go solar. The state also offers excellent solar incentives that could help you make the switch for less.

As the leading residential solar and energy storage company in the U.S.,5 Sunrun works so you can gain energy freedom and protect your home from outages while ensuring you get the most solar benefits possible.

Here’s the List of Tax Incentives, Tax Credits, and Rebates Maryland Offers*

Incentive

Value

Federal Solar Investment Tax Credit (ITC)**

The 26% federal tax credit is available for purchased home solar systems installed by December 31, 2022.6

Solar Renewable Energy Credits (SRECs)

Compensation per kilowatt-hour (kWh) produced by the system. (Based on market value.)7,8

Solar Energy System Property Tax Exemption

Property tax exemption that excludes the added value of an installed solar panel system from the home’s value for tax purposes.9

Solar Panel System Sales Tax Exemption

6% home solar system state sales tax exemption.9,10

Residential Clean Energy Rebate Program (R-CERP)

Marylanders who purchase and install a new residential solar power system may qualify for a $1,000 rebate.11

Find out if You Qualify for Maryland Solar Incentives

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Learn the Details of Maryland Solar Incentives

Buy and install new solar panels in Maryland in 2021, with or without a home battery, and qualify for the 26% federal solar tax credit. The residential ITC drops to 22% in 2023 and ends in 2024.6

Average-sized 5-kilowatt (kW) system cost in Maryland: $14,320 Approximate system cost in Maryland after the 26% ITC in 2021: $10,59712

Maryland is one of the few states that offers an SREC program. With SRECs, you can earn credits for every kilowatt-hour (kWh) of solar power your solar installation creates.7 Each year, you can make money by selling your solar credits in the SREC market.8

When you purchase and install a new solar panel or solar hot water system in your home in Maryland, you won’t pay any state or local property taxes.9

Installing a residential solar array could also build home value. Approximate solar home value increase in Maryland: 3.8%13

When you purchase a new solar panel system in Maryland, you won’t pay any state sales and use tax.9

The exemption is for 100% of the sales tax on eligible equipment that uses solar energy to heat or cool a home, create electricity, or provide hot water. This can save you 6% right off the bat.10

Thanks to the R-CERP, people in Maryland who purchase a new residential solar power system may qualify for a $1,000 solar rebate.11

Solar rebates are allocated on a first-come, first-served basis and are subject to change in amount and existence based on funding availability.11Apply for the R-CERP.

Choose a Cleaner, Safer, and More Affordable Energy Future

Aside from the great solar incentive programs mentioned above, our home solar and battery storage plans in Maryland start at $0 down. With Baltimore Gas and Electric Company (BGE), Delmarva Power, Potomac Electric Power Company (PEPCO), and other Maryland utility companies’ net energy metering (NEM) programs, you can earn credits on your bill for the excess electricity you add to the grid.14,15,16 Net metering in Maryland can help you save money on your future electric bills.

Teaming up with a Maryland solar company like Sunrun is cost-effective. Plus, we’re one of the best solar installers in Maryland. Ready to take the next step? Use our Product Selector or request a free quote to get one-on-one service from our expert Solar Advisors through a safe, socially-distanced virtual consultation.

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DISCLAIMERS:

*Customer’s ability to monetize rebates, incentives, and tax credits depends on several factors, including, without limitation, continued state subsidization of these policies, the applicable Sunrun product type, and whether a customer purchases or leases a home solar system from Sunrun.

**We recommend contacting a tax professional to most accurately determine the impact of the solar Investment Tax Credit (ITC) on your federal taxes.

 

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