One of the very first renewable energy goals was enacted by the state legislature of Maryland in 2001, which mandated that at least 6% of all energy consumed in government buildings had to be sourced from renewable energy. The state’s Renewables Portfolio Standard (RPS) also dictates that 20% of all energy must come from renewable sources by the year 2020, which is an aggressive and laudable initiative.
The state’s electric companies must pay for this initiative, and of course they are not enthused about private citizens generating their own electric power (which negates the need for their product and service), but they have no choice in the matter – if they do not comply with the state’s mandate, they will be fined heavily, and that would be worse than the loss of business. The upshot of all this is that the state of Maryland is committed to promoting the usage of renewable energy sources like solar power long into the future.
Rebates and incentives for going solar in Maryland
Maryland has made it easy for homeowners to switch to solar powered energy systems, by providing a number of rebate programs and financial options to help the process along. No matter where you live in the state, there are applicable rebates and incentives available to facilitate your transition to solar powered energy.
Maryland‘s Clean Energy Grant Program provides for at least $1,000 to every homeowner installing a solar power system rated at 20KW or below. If you’re installing a larger system than this, you would then become eligible for the state’s Clean Energy Tax Production Credit, which also provides a $1,000 inventive to help defray the cost of installation.
Every solar power homeowner in Maryland is also eligible for the Federal Government’s 30% tax credit, so there is considerable assistance available to encourage you to make the switch.
Options for going Solar in Maryland
There are three main options for going solar in Maryland. The first of these, leasing, requires no money upfront, and calls for a third party company to install solar panels on your rooftop at no cost to you. After installation, you would then be responsible for paying a monthly utility bill to that company, at a rate much lower than your current electric bill. However, in this scenario you would not be eligible for any rebates or incentives, since you do not own the system.
Both of the other two implementation methods involve you purchasing and installing solar panels, with one method calling for you to purchase a system with cash you already have, and the second method requiring you to take a home equity loan to cover installation costs. By purchasing a solar panel system, you will receive by far the greatest return on investment, since there would be no monthly utility bills after installation.