Pa solar power incentives

What are Pennsylvania solar incentives?

Pennsylvania solar incentives include Solar Renewable Energy Certificates you can combine with favorable net metering policies and the federal tax credit. At 18.12 cents per kilowatt-hour, electricity prices in Pennsylvania are slightly above the national average, which means you can expect above-average energy savings when using solar panels.

Does Pennsylvania have a solar tax credit?

The federal solar investment tax credit (ITC) is the most significant solar incentive in Pennsylvania. Tax credits offset your tax liability, so it’s only useful if you owe federal income taxes in the first place. Pennsylvania’s solar rebates and alternative energy credit program can also make clean energy improvements more affordable.

How much does Pennsylvania pay for solar power?

The Pennsylvania alternative energy credit program provides additional compensation for solar power generation — typically $30 to $47 per megawatt-hour (MWh). The state also allows meter aggregation. Alternative energy credits: Pennsylvania law requires electric companies to get 18% of their power from renewable sources like solar.

How much do solar energy credits cost in Pennsylvania?

Purchasing alternative energy credits from homes and businesses that are not subject to the requirement. Pennsylvania residents with solar panels can sell SRECs to local electric utilities at varying rates. You can check SRECTrade to see the current market rate, which has fluctuated between $46 and $48 in recent months.

Are solar panels a good investment in Pennsylvania?

Solar panel systems in Pennsylvania can be expensive, but they are well worth the investment thanks to incentives from the state and federal governments. Between the federal tax credit and other state-specific incentives, you can save thousands on solar panels.

How much can you save on solar panels in Pennsylvania?

Between the federal tax credit and other state-specific incentives, you can save thousands on solar panels. Solar panel systems in Pennsylvania are expensive, but incentives from the state and federal governments can help you reduce the upfront cost, making them well worth the investment.