Maryland increased their Renewable Portfolio Standard (RPS) target of 25% renewable energy by 2020 to 50% by 2030. In 2019, Governor Larry Hogan proposed theClean and Renewable Energy Standard (CARES)that sets the state on a path to 100% clean electricity by 2040 with zero carbon emissions.
Maryland has quadrupled their solar energy capacity from 258 megawatts to 1,000 megawatts. Maryland offers programs that support residential, commercial, and community solar projects. The State offers solar grants to help residents, businesses, nonprofits, and local government organizations.
THE SOLAR TAX CREDIT IS EXPIRING SOON!
Extended renewable energy tax credits have been included in a $1.4 trillion federal spending package alongside a $900 billion COVID-19 virus relief spending bill. The solar investment tax credit (ITC), which was scheduled to drop from 26% to 22% in 2021, will stay at 26% for two more years. This means solar projects in all market segments (residential, commercial, industrial, utility-scale) that begin construction in 2021 and 2022 will still be able to receive a tax credit at 26%. All markets will drop to a 22% tax credit in 2023 so don't delay!
Pepco customers who generate their own electricity will receive bill credits for any excess power generated. Using a special net-capable meter, Pepco measures the difference between energy you use from the grid and any power generated from your solar panel system. If your panels generate more electricity than you use that month, the excess is carried over onto your next month’s bill as credits. You may generate more energy than you use in a year. If so, at the end of the year you can sell that energy in the form of Solar Renewable Energy Credits (SRECs). An SREC is equivalent to one megawatt-hour of electricity.
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Our renewable energy specialists will review your data to confirm your eligibility for state and federal incentives. We'll do that by generating a custom design to offset your electric usage. Enter in some simple answers regarding the property and we'll get back to you right away to schedule a quick review.