Pennsylvania has a long and proud tradition of producing copious amounts of energy, from early oil discoveries and rich coal deposits to modern solar energy production. When it comes to energy, this state has a way of getting things done. Thanks to supportive government policies, going solar in Pennsylvania is easier than ever.
Solar Renewable Energy Certificates (SRECs) enables Pennsylvanians to sell the SRECs that their panels generate. As of late 2019, the going rate for these credits was about $24. At this rate, a 5-kilowatt (kW) system that generates 5 MWh per year could make an extra $120 per year from selling credits in the SREC market.
Extended renewable energy tax credits have been included in a $1.4 trillion federal spending package alongside a $900 billion COVID-19 virus relief spending bill. The solar investment tax credit (ITC), which was scheduled to drop from 26% to 22% in 2021, will stay at 26% for two more years. This means solar projects in all market segments (residential, commercial, industrial, utility-scale) that begin construction in 2021 and 2022 will still be able to receive a tax credit at 26%. All markets will drop to a 22% tax credit in 2023 so don't delay!
The Pennsylvania Public Utility Commission has published a final rulemaking order which promotes onsite generation by customer-generators using renewable resources and eliminates barriers which may have previously existed regarding net metering. The regulations also provide for metering capabilities that will be required and a compensation mechanism which reimburses customer-generators for surplus energy supplied to the electric grid.
Our renewable energy specialists will review your data to confirm your eligibility for state and federal incentives. We'll do that by generating a custom design to offset your electric usage. Enter in some simple answers regarding the property and we'll get back to you right away to schedule a quick review.
Follow us on social for all the latest updates on solar and other renewable energy sources.
This site is NOT a state or federal entity. ©2023 State Renewable Energy, LLC. All Rights Reserved.