Pennsylvania Solar Energy Incentives

Pennsylvania could use some room for improvement as far as solar incentives go.

Pennsylvania solar energy incentives.

Financial incentives are offered as loans to promote clean energy technologies and for projects where energy savings are measurable. There are no statewide or utility specific rebates offered for residential solar systems. Pennsylvania has a solid foundation to help boost solar power. According to the u s.

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. Solar panels are an integral part of pennsylvania s economic makeup. 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.

For each megawatt hour of energy you produce you earn an srec. 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. The tax break reduces. Favorable laws rebates performance payments and high electric prices make going solar in pennsylvania a wise economic decision.

With over 400 solar businesses in the state and over 3 000 employees in the solar industry 1 clean energy not only makes the keystone state a stronger one but helps its citizens save money. 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. Financial incentives energy financial incentives for pennsylvania residents. Pennsylvania solar power overview.

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

For residents srec payments are a solid financial incentive to go solar. 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. That s why pennsylvania wants to make it affordable to go solar and find ways for.