South Dakotans savor a lesser electricity bill than the other property owners in the country. Mount Rushmore State ranks 50th in solar roof adoption because residents forsake the decision to invest in a solar energy system.
South Dakota has a ray of abundant sunshine to produce solar power, with an average of 75.27% in a year. And there are substantial solar incentives and rebates in a solar installation that a property owner can utilize as a return on investment, especially once electric bills increase, which is bound to happen. The solar energy system will ultimately compensate for itself, and property owners can enjoy continuing savings in their monthly electricity rates. Moreover, property owners can rely on more than just the electric grid because they will have their source of energy system.
There are substantial solar incentives and perks for property owners investing in solar power in South Dakota. Mount Rushmore offers interconnection standards that dictate how renewable energy sources can be connected to the electricity grid, a method of "plugging into" the grid. There are clear guidelines that make solar installation much more accessible.
South Dakota offers generous property tax exemptions for those who have installed solar systems. Additionally, on the exemption of solar panels installation, the property taxes paid will decrease for the residences where they work. So take advantage of these South Dakota solar incentives today and compare quotes from solar installers now
In addition to the above benefits, South Dakota residents can utilize the Solar Investment Tax Credit (ITC)! It will influence property owners who purchase their solar panel systems. The ITC is a significant tax solar incentive for South Dakotans. This Federal credit allows owners to deduct the installation cost from their Federal taxes. This is one of the fundamental reasons why it makes sense to go solar without delay.
And if you invest in a solar panel by the end of 2032, the federal tax credit is 30% of the price of your solar panel system. This means 30% off the system's total cost, including equipment, labor, and permitting.
Sample Calculation: Suppose your solar energy system costs $20,000. In that case, you can receive a federal solar tax credit of $6,000, calculated as 30% of the system's total cost.
By 2033, the federal tax credit will fall to 26%.
Overall, the solar energy system will be an excellent investment choice for property owners in South Dakota. Aside from gaining on the savings and solar incentives you will acquire from your electricity bills, you will also impart in taking care of our environment.
EnergyBillCruncher is an unbiased and free online resource created to benefit homeowners. Join our newsletter & stay up-to-date with the latest solar news.