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Maryland md residents who switch to solar are eligible for these local, state and federal tax programs.
|Program Name||Program Type||Amount|
|Residential Renewable Energy Tax Credit||Tax Credit||30% before 2020 26% during 2020 22% during 2021|
|Residential Energy Conservation Subsidy Exclusion (Personal)||Tax Exemption||Full rebate amount excluded from taxable income|
|Clean Energy Production Tax Credit (Personal)||State Tax Credit||$0.0085/kWh for 5 years|
|Residential Clean Energy Grant Program||Grant||$1,000 (flat per installation/household incentive)|
|Net Metering||Utility Credit||Excess power credited to customer's next bill at full retail rate; paid annually at commodity energy supply rate|
|Property Tax Exemption for Solar and Wind Energy Systems||Property Tax Exemption||Tax exclusion for 100% of system appraisal|
|Sales and Use Tax Exemption for Renewable Energy Equipment||Sales Tax Exemption||exclusion for full amount of purchase|
The main cost of a solar system is the panels, which will vary depending on your power and roof needs. Newer ones are expected to last 25 years in good conditions. Inverters tend to cost around $500 and usually need to be replaced in 5-10 years, but this will depend on the inverter type. Other costs include frames to hold the panels, wiring, etc, and are relatively small.