Sunshine Rebate
$1.25/watt (Residential units) or $.75/watt (Commercial units) up to 10,000 watts or 35% of the cost of the system, whichever is less. Maximum rebate - $22,500.00. System must be tied to a utility grid rather than being independent from the grid. Must use a state certified installer. Generally takes 60-90 days from the date the final inspection is done on the system.
Utility Rate
Some utility companies are offering a rebate. We will check with your utility company if you are not sure. PPL is offering $2/watt with a $5,000.00 maximum per customer.
Federal Tax Credit
30% of the cost of the system.
Solar Renewable Energy Certificate (SREC's)
Generally speaking a 5k system will produce 6 SREC’s per year. A 10k system will produce about 12 SREC’s per year. You earn a SREC for every megawatt (1,000kW) that is produced from your system.
Do not confuse SRECs with power that you've produced over what you've used. SRECs and power that you sell back to the grid are two distinctly different cash streams positively affecting payback and ROI of your Solar System. SREC’s are available for sale on the market to utility companies. Utility companies are required to sell renewable energy to their clients. They have a minimum % that they have to sell compared to their total sales. They either have to make their own renewable energy or buy from other generators. After your system is registered with the state, you become a generator off SREC’s. The weighted average for a SREC started in January of 2009 at $225.00 and was up to $397.05 in January
of 2010.
Solar Energy Incentives
You may find the following links helpful in making your decision to invest in solar technology:
The purpose of this tool is to allow you to calculate how much energy will be produced by photovoltaic solar panels in a geographical area. It takes into account the amount of sun in the area and average electric ratesx
DSIRE is a comprehensive source of information on state, local, utility and federal incentives and policies that promote renewable energy and energy efficiency. Established in 1995 and funded by the U.S. Department of Energy, DSIRE is an ongoing project of the N.C. Solar Center and the Interstate Renewable Energy Council.
PPL Renewable Energy designs and constructs photovoltaic systems that convert the energy from sunlight into electricity.
Solar energy technology helps reduce clients’ operating costs by using a reliable and renewable power source. Rooftop or ground-mounted solar panels can significantly reduce your energy bills by generating electricity during the daytime or “peak” hours when power prices are highest.
PPL Renewable Energy’s portfolio includes a growing number of solar energy facilities throughout Pennsylvania and New Jersey and will continue to explore partnership opportunities to develop solar energy projects.