Rebates, Financing, and Tax Credits – Savings Made Simple!

Are you ready to make your home more energy-efficient but unclear on how to pay for the upgrades?

We’ve got you covered! Access the best rebates, financing options and tax credits to help you fund your energy efficiency improvements, keeping more money in your pocket.

Using these options can make it easier and less expensive to make your home more energy-friendly.

Financing Options

Financing is another way to say loans, and loans are when you borrow money from a bank. Sometimes, you can get free money from the government or other groups, and those are usually grants but right now there aren’t many grants available to residents.

Maryland Clean Energy Center

The Maryland Clean Energy Center helps Maryland residents reduce energy bills and improve the comfort of their homes. Financial support is available for heating, cooling, insulation, and energy-efficient appliances. They also provide educational materials to help people understand what’s available and how to take advantage of all their options. 

• Clean Energy Advantage (CEA) Loan Program: This program offers homeowners a 0% APR loan for the first 24 months for residential energy improvements. This program is designed to help make energy upgrades accessible for more Maryland households.
• Solar for All (SFA): The Maryland Solar For All Program supports the expansion of solar programs for financially vulnerable households across Maryland. This initiative helps under-resourced Maryland residents lower their energy expenses and boost efficiency with affordable solar energy projects.

Montgomery County Green Bank

The Montgomery County Green Bank is a publicly chartered 501(c)3 nonprofit corporation dedicated to accelerating energy efficiency, renewable energy, and clean energy investment in Montgomery County, MD. They partner with the private sector to provide more affordable and flexible financing options for County residents and businesses for clean energy and climate-resilient projects.

• Energy Efficiency Financing: Offered in Partnership with Maryland Clean Energy Center as part of an EmPOWER Maryland supported program. 
• Renewable Energy Financing: For Montgomery County residential properties, flexible financing is available for solar panel installation. Get a proposal, apply online and join the Clean Energy Credit Union for access to both short and long term loans. Application fees range from $100 to $200 and are rolled into the loan.
• Access Solar: This program is tailored to Montgomery County homeowners earning $97,500 or less, and is for the installation of either rented or purchased solar panel installations.

Maryland Department of Housing and Community Development

The Maryland Department of Housing and Community Development transforms communities into places people want to call home. Through investments in community-led placemaking, housing and small business development, infrastructure and broadband deployment, they partner with local government, nonprofits, and private sector stakeholders to make great places.

• BeSMART Home Loan Program: This program provides financing to improve the energy efficiency and comfort of your home. By replacing and upgrading appliances, heating, ventilation and cooling systems, and whole house envelope improvements – homeowners can save on the utility bill.

• Net Zero Loan Program: ​​​​​​​​​​​Net Zero homes are energy efficient homes that produce as much or more energy than they will use. The Maryland Department of Housing and Community Development supports the construction of Net Zero homes throughout Maryland.​ Net Zero home features ​may include advanced energy efficient design and technology, renewable energy resources, and a Home Energy Rating System (HERS) rating of 50 or lower.

Rebates

Rebates are partial refunds offered by manufacturers or governments after the purchase of energy-efficient products or installations.

Start by exploring the Energy Toolkit to access rebates that can reduce the cost of your energy-saving projects. Whether you’re upgrading your insulation, HVAC system, or appliances, there’s a rebate that fits your needs. All of the programs in Maryland are funded by EmPOWER Maryland Program.  

Tax Credits

Tax credits are government-provided financial incentives that reduce the amount of tax owed by individuals or businesses.

COUNTY TAX CREDIT 

Montgomery County Energy Efficiency Tax Credit: Claim a $250 tax credit for energy-efficient improvements like insulation, HVAC upgrades and window replacements. The credit can be taken once per year for purchases made during that fiscal year (July 1 – June 30). The total amount available annually in the County is $100,000, so apply HERE early. Section 2 of the application applies to the Energy Conservation Devices

• • You can also fill out the application online NOW
  • If you have questions about this tax credit opportunity, please email Finance.propertytaxcredits@montgomerycountymd.gov

FEDERAL TAX CREDIT 

Federal Energy Efficiency Tax Credits: Upgrade your home with energy-efficient products and qualify for federal tax credits. Visit the EPA’s ENERGY STAR® website to learn which products are eligible.

Federal Energy Efficient Home Improvement Credits: If you make qualified energy-efficient improvements to your home after Jan. 1, 2023, you may qualify for a tax credit up to $3,200. You can claim the credit for improvements made through December 31, 2025. Find out more in the IRS website.