Vermont takes solar seriously. Thanks to its Comprehensive Energy Plan1 and an ambitious goal to rely on 90% renewable energy by 2050, the state is paving the way towards a more sustainable future.
So what does that mean for you? Solar incentives like tax exemptions, along with the Federal Solar Tax Credit, and other state programs all help make a home solar system a worthwhile investment. Keep reading to learn more about the solar incentives available to you when you go solar in Vermont.
With a home of your own, you know that property tax exemptions can be a pretty big deal. So you’ll be pleased to hear that Vermont also employs a property tax exemption for home solar panels.3 And when owning a solar system can increase the value of your home by $15,000 on average, you can bet that it’ll amount to even more savings.4 The added value to your home from your solar system won’t be taxed, while getting you more bang for your buck if you decide to move.
The price of solar systems has gone down by over 50% in the past 5 years5—but we’ll never turn down a way to keep saving. That’s why the Renewable Energy Systems Sales Tax Exemption6 is a welcome addition to the other incentives available, saving you at least 5% when you buy Vermont solar panels.7
Vermont is also a solar friendly, green state and we want to play up the environmental benefits of going solar where possible.
In addition to Vermont’s state solar incentives, solar system owners are also eligible for the federal solar tax credit 8 if you buy your own solar system outright.* The federal solar tax credit gives you a dollar-for-dollar reduction against your federal income tax. The 30% tax credit applies as long as the home solar system is installed by December 31, 2019. Starting in 2020, the value of the tax credit will step down to 26%, and then again to 22% in 2021. After 2021, the tax credit for residential solar ends. We can help you maximize on all the solar savings available to you.
Our BrightBuy™ and BrightAdvantage™ plans give you the chance to buy your own solar system outright or through a hassle-free loan. We’ll create a customized agreement based on your individual needs. And by partnering with the top solar companies near you, you’ll also get a custom solar installation in Vermont to meet the unique needs of your home and lifestyle.
Whichever one you choose, we’ll help you take advantage of the Vermont solar energy incentives that might be available to you. We’ll even handle the paperwork. All you have to do is sit back and soak up the savings.
See why other customers have chosen to go solar with Sunrun. Want to see how much you could save? Get your free quote today.
*We recommend contacting a tax professional to most accurately determine the impact of the ITC on your federal taxes
**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 solar system from Sunrun.