Solar Alternative Energy Credits Pennsylvania

The residential renewable energy tax credit as the irs calls it can be an attractive way to save on the significant cost of installing solar panels or roofing an average sized residential solar.

Solar alternative energy credits pennsylvania. Fortunately there are renewable energy and energy efficiency financial incentives to help. Pennsylvania homeowners with solar panels receive one renewable energy credit for every 1 000 kilowatt hours their solar system produces with the value of the srec being based on market value. Peco energy offers the top utility net metering program in pennsylvania. Alternative energy alternative energy portfolio standards act of 2004.

3 pa solar renewable energy certificates or credits srecs. The pennsylvania public utility commission puc implements act 129 which guides consumers and electric utilities toward achieving reduced energy consumption and peak electric demand. Available sources of renewable energy in pennsylvania include solar geothermal wind hydropower and biomass. 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.

Act 129 electric company energy efficiency programs and rebates. On november 30 2004 governor edward rendell signed act 213 into law. Solar is the conversion of sunlight into electricity by either solar photovoltaic pv panels or solar thermal systems. More than 32 500 alternative energy suppliers participate in the pennsylvania alternative energy credit program view qualified facilities report.

The solar industry is growing at an unprecedented rate providing emissions free power opportunities for all sectors. The solar alternative compliance payment sacp is the penalty price that electricity suppliers must pay per srec if they fail to file the required number of srecs by the end of each compliance period. The pa sacp is 200 of the average srec solar aec price paid by power providers in that year. 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. Solar renewable energy certificates srecs this program enables pennsylvanians to sell the srecs that their panels generate. For each megawatt hour of energy you produce you earn an srec. Solar pv panels are what you may see on the roof of someone s house.