Solar Panel Credits Pennsylvania

As of early 2016 the going rate for these credits in the state was about 15 per megawatt hour mwh of solar.

Solar panel credits pennsylvania.

Financial incentives energy financial incentives for pennsylvania residents. Energy information administration the average pennsylvania family consumes more than 10 000 kilowatt hours kwh of electricity annually and spends more than 2 000 per year on energy bills. Pennsylvania s rps is split into two separate requirements. Solar renewable energy credit srec the third major financial incentive program available in pennsylvania is the solar renewable energy credit srec scheme sometimes referred to as solar power performance payments or production incentives.

In addition to the state specific incentives and programs mentioned above you can reduce the cost of your solar panels system by 30 percent thanks to this great government program. In 2018 pennsylvania has over 354 megawatts of solar power generation installed at nearly 19 000 homes farms and businesses and nearly 5 000 people employed in the solar energy field. The solar industry is growing at an unprecedented rate providing emissions free power opportunities for all sectors. For residents srec payments are a solid financial incentive to go solar.

A renewables portfolio standard rps requires utilities in the state to eventually source at least a certain percentage of their electricity from clean renewable sources like solar panels. The value of solar incentives in pennsylvania is even greater when taking into account the recent extension of the federal investment tax credit itc for solar. With power prices above the national average the return on investment for an installation of solar panels in the keystone state is one of the best in the us. According to the u s.

That s why sunrun is here to make your life easier with our solar lease brightsave. For each megawatt hour of energy you produce you earn an srec. 8 of the state s energy has to come from tier 1 technologies primarily solar wind and low impact hydro along with a few less common forms of environmentally friendly energy production. One of the better financial incentives available to pennsylvania residents is the solar alternative energy credit srecs system which began with the creation of the aeps program.

The residential renewable energy tax credit as the irs calls it can be an attractive way to save on the significant cost of installing solar panels or roofing an average sized residential solar.