Photo credit: eagle102.net

Want to get four-fifths of your solar electric system paid for? Well then Louisiana is the state for you. There, you can now get up to 50% off a solar system (up to $12,500) through a state tax credit. Louisiana has perhaps the most generous of state solar subsidies and, when combined with the 30% federal tax credit, many Cajun homeowners can now get a whopping 80% off their new solar energy system.

With a cap set at $12,500, that means home systems priced at $25,000 will benefit the most. Fortunately that is roughly the price of the average 3-kilowatt residential solar electric array, which in turn means that the average Louisiana home can offset a very large portion of their electricity usage at an unprecedented low cost. Energy conservative homes may even eliminate 100% of their grid power needs.

Even if you don’t live in Louisiana, have no fear. In several states, again with the help of the federal tax credit, purchasing solar power has never been cheaper. Many homeowners and families around the country can now enjoy at least a 50% discount if not higher.

Bear in mind, however, — and I’ve heard this from a lot of homeowners I’ve talked to — that tax credits and rebates pay back the cost over some time. In some cases that may come within the next tax year, in others, such as my home state of Oregon, the state tax credit is paid over the course of four years. So even with an 80% discount, many homeowners are leery of the initial cash necessary to install a solar system.

If that includes you, check out these solar financing examples (similar programs exist in many states and cities, as well as from private entities) that can break down that final barrier to your solar future. Then, as the rebates roll in the loan or other financing may be paid back, all while you’re producing clean solar energy and saving big bucks on utility bills.

Yet another option: get your neighbors involved and reap huge discounts for everyone.

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Posted on July 8th in Solar Funding by Dan.