Yes, there are several incentives available for solar battery storage systems, particularly in states like California and through federal programs.
Federal Incentives
- Federal Investment Tax Credit (ITC): This incentive offers a 30% tax credit on the cost of a solar battery storage system, provided it meets certain conditions, such as being charged using on-site renewable energy. Starting from 2023, standalone storage systems also qualify for this credit.
California Incentives
- Self-Generation Incentive Program (SGIP): SGIP offers rebates for energy storage installations. As of now, most residential customers can receive $200 per kilowatt-hour (kWh) of stored energy capacity. However, higher incentives exist for certain groups:
- Equity Rebate: Offers $850 per kWh, primarily for low-income households.
- Equity Resiliency Rebate: Provides $1,000 per kWh for communities in high fire threat areas or those that have experienced power outages frequently.
Other State Incentives
Other states also offer incentives for solar battery storage:
- Connecticut: Offers up to $16,000 for residential installations and a 50% savings for businesses.
- Massachusetts: Provides financial incentives and financing solutions through the Mass Save Connected Solutions program.
- New York: Offers a $250 per kilowatt rebate for Long Island residents.
These incentives can significantly reduce the cost of installing solar battery storage systems, making them more accessible to homeowners and businesses.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/are-there-any-incentives-for-solar-battery-storage-systems/
