Solar Power Rebates, Tax Credits and Solar Panel Incentives in Mississippi; 2012 Update
We have had a look at what's going on in Mississippi in relation to incentives and rebates for solar power systems. (May 2012)
Mississippi's RPS or Renewable Portfolio Standard
Mississippi don't have a Renewable Portfolio Standard, this doesn't mean there are no incentives available but generally (not always, hey Louisiana) it means that the state has a very poor overall incentives and rebate package. To help your understanding we distinguish the rebates and incentives available for solar electricity panels into incentives that reduce the up-front cost and incentives that increase the income and savings from the system over time.
Federal Tax Credit
The single most significant financial incentive for your solar power system in Mississippi is the same Federal Tax Credit that applies right across the USA. This gives you a credit on your Federal Tax bill equivalent to 30% of the cost of your solar system For more information on this visit out page "The 30% federal tax credit for residential solar power systems" Because this is a tax credit you get the benefit of this when you do your next federal tax return, rather than getting a cheque on the day of installation. Still, it has a real value if you are in a position where you are paying annual federal income tax equivalent to 30% or more of the value of your solar panel system.
Mississippi State Rebates
Mississippi has currently suspended its rebates and incentives program and they are under review.
Mississippi's Solar Incentives and investment case: Summary May 2012
There are some tax breaks for large companies or corporate's that can spend at least 50 million on a project but there is basically nothing available for your average Joe who wants to install solar power. This could all change soon as the local legislature are reviewing incentives and rebates for solar power systems. The best way to know about the incentives available to you in Mississippi is to click "here" and get some quotes from local solar professionals.