As a homeowner, going solar can be one of the best investments you can make for your home. A solar power system can cover most, if not all, of your electric bill each month, giving you peace of mind and allowing you to lock in your monthly payment. At Shumaker Roofing Company, we believe in transparency, quality, and integrity. We want to provide you with all the necessary information so that you can make the best decision for you and your family when it comes to investing in solar.
One of the most critical aspects of going solar is determining the best position for the solar panels. For optimal efficiency, solar panels should be installed where sunlight hits them at as close to a perpendicular 90-degree angle as possible for as long as possible during the day. This means that most solar panels face the equator, which, in the US, is south-facing, and are installed at an angle of between 30 to 45 degrees relative to the horizon.
The orientation of your roof is also important. The ideal orientation for solar panels is true south, but southeast or southwest may also work. In Maryland, true south is about 11 degrees west of magnetic south. The tilt of the solar panel is another important factor. The ideal roof tilt for solar panels in Maryland is 35–40 degrees, but other slopes can work. If your roof is not well-suited for solar panels because of orientation, tilt, shading, or the shape of the roof, you may still invest in solar by getting ground-mounted panels or participating in a community solar project.
When it comes to tax credits and incentives, the federal solar tax credit is a clean energy credit that you can claim on your federal returns. The tax credit is currently set at 30% of your total solar panel system installation cost and can be claimed by any U.S. homeowner. The solar investment tax credit was originally created through the Energy Policy Act of 2005, and thanks to the passage of the Inflation Reduction Act in August of 2022, the tax credit was bumped from 26% to 30%. The credit will remain at 30% until Jan. 1, 2033, when it will drop down to 26%. In 2034, it will drop to 22% before phasing out in 2035. The federal tax credit covers 30% of the cost of solar panels, all additional solar equipment, such as inverters, wiring and mounting hardware, labor costs for solar panel installation, including fees related to permitting and inspections, and energy storage devices that are powered exclusively through the solar panels, including solar batteries. Storage devices must have a capacity rating of at least 3 kilowatt-hours (kWh).
In addition to the federal tax credit, in Maryland there is no sales tax applied to your solar system, your solar system is exempt from real property taxes, and local counties including Baltimore, Harford, Prince George’s, and Anne Arundel offers local property tax credits as well.
Solar Renewable Energy Credits (SREC’s) represent the positive environmental benefits of energy produced through solar. One SREC is created each time a solar system produces one megawatt hour (or 1000 kWh). These SREC’s are then sold through auctions on the open market. SREC values as of March 2023 are as follows; Maryland $58, Pennsylvania $47, Virginia $60, and D.C. $405
A 10 kW Solar System produces about 12 SREC’s each year
Going solar is a great investment in your home, and Shumaker Roofing Co. is committed to providing you with the best quality, integrity, and transparency in the solar installation process. Contact us today to learn more about how we can help you make the switch to solar and start saving on your energy bills while reducing your carbon footprint.
Call Shumaker Roofing today for a complementary Solar Consultation! (301) 662-0533
