✅ Federal Incentives
All federal benefits apply to entities in Montana.
✅ State Incentives
⚡ Alternative Energy Revolving Loan Program (AERLP)
Montana residents can access low-interest loans through the AERLP to finance solar installations. The program offers loans up to $40,000 at a fixed 3.5% interest rate for a term of up to 10 years. (LINK)
⚡ Yellowstone Valley Electric Cooperative Stock Watering System Rebate
Members of the Yellowstone Valley Electric Cooperative can receive a rebate of up to 50% of costs or $1,000, whichever is less, for installing a solar panel system for watering stock. (LINK)
✅ Utility Incentives
Utility-based incentives in Montana vary by provider. Some utilities may offer rebates or incentives for solar installations. It's advisable to contact your local utility provider to inquire about available programs.
✅ Additional Considerations for Nonprofits
Under the Inflation Reduction Act (IRA) of 2022, tax-exempt organizations such as nonprofits are now eligible to receive a direct payment equal to 30% of their solar installation cost, effectively mirroring the federal Investment Tax Credit (ITC). This provision significantly enhances the financial benefits available to nonprofits investing in solar energy.
Summary
Montana offers a combination of federal incentives, state tax exemptions, net metering, and utility-level incentives to make solar energy a viable and beneficial investment for individuals, businesses, and nonprofits.