Pennsylvania Solar Energy Incentives

For each megawatt hour of energy you produce you earn an srec.

Pennsylvania solar energy incentives.

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. Pennsylvania solar incentives pave the way. Favorable laws rebates performance payments and high electric prices make going solar in pennsylvania a wise economic decision. The tax break reduces.

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. There are no statewide or utility specific rebates offered for residential solar systems. As of early 2016 the going rate for these credits in the state was about 15 per megawatt. That s why pennsylvania wants to make it affordable to go solar and find ways for.

An average sized residential solar system about 400 square feet of solar panels costs 18 000 according to the solar energy industries association an industry group. 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. According to the u s. Pennsylvania has a solid foundation to help boost solar power.

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. Financial incentives are offered as loans to promote clean energy technologies and for projects where energy savings are measurable. For residents srec payments are a solid financial incentive to go solar. Pennsylvania could use some room for improvement as far as solar incentives go.

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. Pennsylvania solar and renewable energy incentives. Pennsylvania solar power overview. Financial incentives energy financial incentives for pennsylvania residents.

The sustainable energy fund sef promotes and invests in energy efficiency and renewable energy projects and energy education initiatives in the state of pennsylvania. However there is a net metering law in place which has the potential to dramatically decrease homeowners electric bills. The solar industry is growing at an unprecedented rate providing emissions free power opportunities for all sectors.