Solar Panel Grants and Incentives | Residential

In Maryland and DC there are a number of financial incentive and grants available. The process of securing funding requires paperwork and supporting documents, but Solar Energy Services will take care of the whole process, needing only your approval and signature.

MARYLAND RESIDENTS

Solar Energy Services Takes Care of The Whole Process - Requiring Only Your Signature.

RESIDENTIAL SOLAR HOT WATER/HEATING

There has never been a better time for solar. Marylanders currently pay as little as 25% of the total cost of an installed solar hot water system.

Here's a summary of the available incentives:

Federal Tax Credit of 30% of system - no cap
Maryland State Grant of 20% of system cost up to $500
County Property Tax credit (varies by county, but currently there are tax credits from AA, Baltimore, PG, Montgomery, and Harford)
Sale of *SRECS

RESIDENTIAL PV (SOLAR ELECTRIC)

Federal Tax credit of 30% of system, no cap
$500 per kW up to 20 kW (up to $10,000)
County Prop Tax credit – (AA, Baltimore, PG, Montgomery, and Harford)
Sale of *SRECS

DC RESIDENTS

RESIDENTIAL SOLAR HOT WATER/HEATING

Federal Tax Credit of 30% of system - no cap
Sale of *SRECS

RESIDENTIAL PV (SOLAR ELECTRIC)

Federal Tax Credit of 30% of system - no cap
District Dept of the Environment (DDOE) will provide a grant based on the following:
$1.50 for each of the first 3,000 installed watts/equivalent capacity
$1.00 for each of the next 7,000
$ .50 for each of the next 10,000
Sale of *SRECS

Rebates for all systems are capped at a maximum of $16,500 (at 20 kW capacity or greater) for each applicant site per program year.

*Solar Energy Services, Inc. has partnered with Sol Systems Inc., the largest SREC aggregator in the country, to provide you with reliable financing solutions that are tailored to fit your needs.

What Are SRECS?: SRECS = Solar Renewable Energy Credits. These are tradable credits that represent all the clean energy benefits of electricity generated from a solar energy system. Each time a solar electric system generates 1,000 kWh (1MWh) of electricity, an SREC is issued which can then be sold or traded separately from the power.
How Will SRECS Give Me a Return on My Investment?: Depending on the contract you choose via Sol Systems; you can reduce your solar electric system's cost anywhere from 20 - 40%. There are a variety of contracts that Sol Systems may suggest. For example, Sol Annuity is a long-term solution that gives you guaranteed prices for your SRECS even when spot market prices fall. You will receive a fixed, quarterly payment for each SREC produced over a 5 year term. For example, a system that produces 1 SRED/Quarter at a fixed rated of $325/SREC would generate $6500 over a 5 year period. You will receive your first payment 4 to 6 months after signing up with Sol Systems. After that, you will receive a quarterly payment in Feb, May, Aug, and Nov based on the number of full SRECS your system produces.

There are other contracts that give you a lump-sum payment up front, based on the size of your system. There are still other Sol System contracts that monitor SREC trading platforms and legislative changes and establish a floor price and a target price for your SRECS. They will enter into SREC purchase agreements that clear their aggressive floor and achieve their target SREC price. You receive a quarterly payment less a 5% brokerage fee.
How Much Are My SRECS Worth?: SREC's value differ from State to State, and year - to -year; depending on a variety of factors such as supply and demand, compliance fees dictated to the energy suppliers buying your SRECS and other variables. Most homeowners have limited options for selling their SRECS because most energy suppliers are not willing to engage directly with small systems owners. That's why SES have partnered with Sol Systems to provide you with reliable financing solutions that are tailored to fit your needs.
Who Will Buy My SRECS?: Energy and/or Utility Suppliers will give you a cash check for your SRECS. Solar RPS (Renewable Portfolio Standard) requirements demand that energy suppliers or utilities procure a certain percentage of electricity from qualified solar renewable energy resources in a state. These suppliers can meet solar RPS requirements by procuring SRECs from homeowners and businesses who own solar systems and produce SRECs.