Solar Calculator

Solar Calculator

How this solar calculator works

This solar calculator compares the costs of buying, leasing, or financing solar panels versus switching to a renewable energy plan or to the lowest available rate of traditional plans. This equips you with everything you need to make the right energy choice based on what is most important to you.

Federal Solar Tax Credit and Incentives

All US residents can receive the federal solar tax credit. This tax credit deducts 26% of the cost of installing a solar energy system. This credit is available for both residential and commercial systems. The sooner you take advantage of this credit the better because as time goes on the amount of the credit diminishes.

Here's how it works:

  • 2016 – 2019: Tax credit refunds  30% of the cost of the system for residential and commercial.
  • 2020-2022: Residential and commercial receive a 26% deduction of the cost of the system from their taxes.
  • 2023: Residential and commercial receive a 22% deduction of the cost of the system from their taxes.
  • 2024: Residential tax incentives are no longer available. Commercial owners can deduct 10% of the cost of the system on taxes.

Local Solar Tax Credits and Incentives

Depending where you live you may be able to receive various tax credits, rebates, and other incentives from your local government and or utility. The rebates can have a drastic impact on the cost of your solar system so make sure you research all the available options. Our solar incentive database has all of the local incentives in your area.

Buying vs Leasing Solar Panels

There are many options when it comes time to purchase our solar panels. You can finance, lease, or pay the entire cost upfront. The right choice will depend on your financial situation and the costs of your system and other factors. Our solar calculator will help you weigh your options. You can find more information on leasing vs buying solar panels here.