“If you’re looking for a merry land” in the solar industry, look no further than Maryland. Solar panels are a popular choice for clean power in Maryland because the state has some of the highest electricity rates in the country.
Maryland gets an abundance of sunny days throughout the year, and sunshine is all you need to free yourself from that high electricity bill from your utility. Install solar panels to transform sunshine into a clean, reliable, and affordable energy source. With solar panels from Direct Energy Solar, you can declare energy independence, lower your electricity bill, and do your part to protect the planet.
Now that’s worth being merry about.
According to the U.S. Energy Information Administration (EIA), Maryland is one of the top 15 most expensive states in the country for residential electricity—December 2016 rates averaged at $.140/kWh! Not many states had higher rates.
And while there are occasional dips in prices, electricity rates in Maryland are trending upwards. This table was compiled using Maryland electricity rate data provided by the EIA.
That’s more money back in your pocket to spend on more important things than utility bills. Just think of the possibilities.
Maryland Solar Snapshot
According to the SEIA, 144 MW of solar electric capacity was installed in Maryland in 2015, ranking it 11th nationally. That brings the total installed solar capacity in Maryland to 349 MW, ranking it 13th in the country—installed solar capacity in has grown by 109% over the last year!
The Solar Investment Tax Credit (ITC) is a very generous federal solar incentive that allows you to claim a tax credit for 30% of the total cost of installing your solar system.
It will remain at the 30% level until the end of 2019 and will then ramp down incrementally through 2021. After 2023, the residential credit will drop to 0% while the commercial credit will drop to a permanent 10%.
We’ve prepared a checklist you can use to ensure you meet the criteria for this incentive, with links to the forms needed.
Direct Energy Solar installation in Maryland
These grants are provided by the Maryland Energy Administration (MEA) to offset the cost of your solar investment.
The current Maryland grant is $1,000 for systems up to 20kW in size.
You can learn more at Maryland Energy Administration (MEA)—grants are available for both residents and small business owners.
Direct Energy Solar installation in Maryland
Local incentives are changing all the time as counties become more aware of the benefits of solar power or run out of funds. If your property taxes are lower than the credit amount in a year, you can carry the remaining credit forward so you always get the full amount. Please note that availability is dependent on each county's budget allocations.
There is a one-year property tax credit of up to 50% of your total installation costs up to $2,500.
There is a property tax credit of up to 50% of your total installation costs or $5,000, whichever is lesser. The maximum credit available is determined by the amount of property taxes you pay.
There is a property tax credit of up to $2,500.
There is a property tax credit of up to 50% of your total installation costs up to $5,000.
Maryland utility companies are required to participate in the net metering program. Net metering allows homeowners and businesses that generate excess energy with their solar system to offset the cost of power drawn from the utility.
When your net meter sends back to the grid any excess solar electricity that your solar system generates, you’ll receive the full retail value of that electricity.
At the end of each billing cycle, if you send more electricity back to the grid than you used, you earn credit towards your next bill.
When your solar panels produce electricity for your home, they also produce Solar Renewable Energy Certificates (SRECs). SRECs are credits that represent the environmental benefits associated with producing 1,000 kilowatt hours (or 1 megawatt hour) of solar electricity. You can sell your credits back to utility companies in an open market and earn more money from going solar.
As one of the country’s top residential SREC aggregators, Direct Energy Solar can offer you the best value for the Maryland SRECs you will generate with your solar system. We have various SREC offerings that help you maximize your earnings and allow you to choose the timing of your earnings.
Looking for more information about Maryland state policy, solar incentive information, statistics, and electricity rates?
We’ve compiled a list of useful links for you. When you meet with us, we’ll show you what incentives you are entitled to.
Direct Energy Solar combines the reliability and skill of a national solar company with personalized service and local knowledge. Going solar is an exciting decision! We can help you harness the sun’s full potential for your home in Maryland and are devoted to delivering the most carefree solar experience.
7101 Riverwood Drive
Columbia, MD 21046
Find out if you are in our service territory and if you are a good fit for solar by requesting your free solar quote.