Incentives for Solar Panels in Sparta, WI

What Is the Federal Solar Tax Credit?

If you install solar energy equipment at your residence any time this year through the end of 2032, you are entitled to a nonrefundable credit on your federal income taxes, equal to 30% of eligible expenses. There’s no dollar limit on those expenses; you’re entitled to that 30% tax break whether you spend $20,000 or more than $100,000 on costs associated with residential solar panels in Viroqua, Richland Center, La Crosse, Westby, Cashton, Readstown, Holmen, Onalaska, Sparta and many other nearby areas.

The credit lowers your federal taxes. So if you spend $24,000 on a system, you can subtract 30% of that, or $7,200, from your federal taxes. (You must take the credit for the year the installation is completed.) If, say, you owe $7,000 in taxes before the credit, a $7,200 credit would reduce what you owe to zero. You can’t get a tax refund for the remaining $200, but you can carry forward that remainder into a later tax year.

Focus on Energy

If your utility is a member of Focus on Energy, you've been dutifully funding their programs through your monthly energy bill payments. Because of this, you are eligible to partake in their programs. One of these programs is the Renewable Rewards program. This program funds solar projects at the residential, commercial, farm, and special sectors (nonprofits, schools, government and Native American tribes and nations) levels. In fact, residential projects are eligible for $500 - $1,000. Plus, depending upon system size, commercial projects are eligible for up to $50,000, farms up to $60,000, and special sector projects up to $81,000.

This program is a nice cherry on top for residential projects and can serve as a serious source of project funding for the other three categories. Most utilities in Ethos' service territory are members of Focus on Energy, meaning their customers can utilize this program, but there are a couple of notable exceptions. Riverland Energy, serving the Holmen, WI area and Jackson Electric Cooperative serving Jackson County. Customers of these two utilities can not take advantage of Focus on Energy programs.

As part of the turn-key service Ethos provides, we reserve and apply for these funds on your behalf. No need to do anything except deposit the check when it arrives in your mailbox! Click here to learn more about this program and how you can get solar panels in a surrounding community soon.