Maryland Residential Clean Energy Grant Program
Maryland offers a Residential Clean Energy Grant Program that offers a $1,000 flat incentive grant to homeowners that install Solar PV systems with a capacity of up to 20 kilowatts (kW) in their primary residence. When this Maryland Grant Program is combined with the Federal Tax Credit homeowners will recoup over one third of their investment in solar energy.
Typical Systems With the Federal and Maryland Incentives Would Earn
|
System Size |
Approx. Costs |
Maryland |
Federal Tax Credit |
% Paid Back From These Two Incentives |
|
3.35 kilowatts |
$28,475 |
$ 1,000 |
$ 8,542 |
$9,542 / 36% |
|
5.00 kilowatts |
$42,500 |
$ 1,000 |
$12,750 |
$13,750/ 32% |
|
7.50 kilowatts |
$63,750 |
$ 1,000 |
$19,125 |
$20,125/ 32% |
* This credit may be deemed taxable income by Maryland. Consult your tax advisor to determine what impact, if any, it could have on your tax obligations.