With The Solar Investment Tax Credit (ITC), a homeowner or business owner can claim up to 30% of their solar or battery storage cost as a federal income tax credit.  This tax credit is available to homeowners who purchase their systems outright or who finance their systems through a solar loan.

Also known as Solar Renewable Energy Certificates, SRECs are redeemable cash credits issued each time a solar array produces 1,000 kWh (1 MWh) of solar electricity.  This is different from being paid for the power you don’t use, as this is an extra credit designed to promote the adoption of renewable energy in states like New Jersey and Pennsylvania.

A billing mechanism which allows a solar producer in Florida to pay the “net” of their energy usage each month (ie. the difference between what was put into the grid and what was pulled from the grid).  This gives the ability to be connected to both grid power and your own solar array, and is what results in a reduced electric bill with solar.

In some states like Florida and New Jersey, a solar electric system is exempt from property tax increases. This means you can create your own power and save on electricity costs, without any increased property tax burden.