State ID
Maryland boasts an impressive RPS, established net metering, and solar power tax benefits. The solar incentives in Maryland make investing in solar an easy choice for energy-conscious homeowners and have made a name for itself in the solar community.
Solar Incentives
If you install a solar energy system on your primary residence smaller that 20 kW through an NABCEP installer, Maryland will pay you $1,000. Under the Solar Renewable Energy Certificates (SREC), you are granted one Maryland SREC for each MWh of clean electricity your panels produce, which you can then sell in the SREC market. You will not have to pay any extra taxes on the increased value of your home when you install a solar or wind energy system in Maryland. Sales and Use Tax Exemption for Renewable Energy Equipment makes your purchase of your new solar energy system tax-free. Net metering is available statewide until the aggregate capacity of all net-metered systems reaches 3,000 MW. In addition, you qualify for the federal solar tax credit.
Frequently asked questions
FAQ
Growth Projection and Ranking: 1,161 MW over the next 5 years (ranks 28th)
Total Solar Investment in State: 3.8 billion. As of March 2022, the average solar panel cost in Maryland is $2.83/W
Given a solar panel system size of 5 kW, an average solar installation in Maryland ranges in cost from $12,028 to $16,272, with the average gross price for solar in Maryland coming in at $14,150.
Generally, homes with solar energy systems sell for more than homes without. In most parts of the country, going solar can increase your property’s value by 4.1 to 9.9%, depending on where you live. Please note: The value of your property will only increase if you own, rather than lease, your solar system. However, a leased solar system may increase your home’s marketability.
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