MARYLAND STATE REBATE PROGRAM

• Maryland Residents can expect to be eligible for a rebate of up to $10,000 based on size of system installed. The grant calculation is $500 per kW installed.
• Maryland Business's can also recieve $500 per installed kW, with a maximum of $50,000.

This rebate is called the Maryland Solar Energy Grant Program. Details can be found by clicking here.

Green Street Solar handles all of the application process and even will allow for the customer to receive their panels prior to the grant money being funded.

30% FEDERAL TAX CREDIT

In addition to the Maryland State Rebates, the Federal Government offers a 30% tax credit on the total amount spent installing your solar electric system.

• There is no maximum credit for systems placed in service after 2008.
• The home served by the system does not have to be the homeowner's principal residence to be eligilbe.
• Please refer to http://www.irs.gov/pub/irs-pdf/f5695.pdf  or contant your tax consultant for more details that may pertain to your unique tax situation.

MARYLAND COUNTY TAX CREDITS

Maryland counties have eneacted tax credits of up to $5,000 per solar electric system.

Click here for Montgomery County incentives.

Click here for Howard County incentives.

Click here for Harford County incentives.

Click here for Anne Arundel County incentives.

Click here for Prince George's County incentives.

LONG-TERM FINANCIAL BENEFITS OF OWNING SOLAR ELECTRIC SYSTEMS

Once you have purchased your solar electric system, you can start reaping the financial benefits!

Your utility company must pay you full value for the electricity you produce. You can offset your bill all the way to nothing!

Your utility company is not required to pay you for power you create in excess of your electric use.

In addition, there is a market for Solar Renewable Energy Credits (SRECs). Green Street Solar arranges to have these sold on your behalf at no additional charge.

For a typical system that costs a homeowner $19,600 after incentives, a Maryland homeowner can expect approximately $22,908 in  electric savings and REC proceeds in the first 5 years!

Electricity prices have risen at over 6% annually over the past 30 years. Should this trend continue, your savings can become much larger over time!

Business owners can apply accelerated depreciation to the system! 

In December 2010 the provision for bonus depreciation was amended and extended yet again by The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (H.R. 4853). Under these amendments, eligible property placed in service after September 8, 2010 and before January 1, 2012 qualifies for 100% first-year bonus depreciation. For 2012, bonus depreciation is still available, but the allowable deduction reverts from 100% to 50% of the eligible basis.

 http://dsireusa.org/incentives/incentive.cfm?Incentive_Code=US06F&re=0&ee=1

Also keep in mind that your savings are “pre-tax” savings, meaning that you are saving money that would normally have been taxed before you spend it.

*Note: The SREC market is constantly changing. Green Street Solar will strive to keep thier customers aware of current policies affecting their SRECs.