Pennsylvania Solar Incentives and Rebates
Pennsylvania is a state that is rich in natural resources, including solar energy. The state has a wealth of solar incentives and rebates that can help residents and businesses to install solar panels and harness the power of the sun to reduce their energy costs.
The Federal Investment Tax Credit in Pennsylvania
One of the most significant incentives for solar energy in Pennsylvania is the Federal Investment Tax Credit (ITC). The ITC is a 22% credit that can be claimed on federal income taxes for the cost of installing solar panels. This credit is available to both residential and commercial property owners and can be used to offset the cost of solar panel installation.
State-Level Tax Incentives in Pennsylvania
Unfortunately, there is no State Tax Credit in Pennsylvania, but the State provides various other incentives. Visit https://www.dep.pa.gov/Citizens/solar/Pages/default.aspx for more details on state-wide solar initiatives in Pennsylvania.
State-wide Solar Initiatives in Pennsylvania
Pennsylvania has several state-wide solar initiatives that can help residents and businesses to install solar panels and reduce their energy costs. These initiatives include:
Solar Renewable Energy Certificates (SRECs): SRECs are credits that are awarded for every 1000 kilowatt hours of electricity produced by solar panels. These credits can be sold to utilities in order to offset the cost of solar panel installation. The current value of an SREC is between $35 and $40.
Local City & Utility Rebates: Many cities and utilities in Pennsylvania offer rebates for solar panel installation. These rebates can help to lower the cost of solar panel installation and make it more affordable for residents and businesses.
City of Philadelphia: The City of Philadelphia offers a rebate of $0.20 per watt up to $1700 for solar panel installation. This rebate does not conform to State rules on Modified Accelerated Cost Recovery System (MACRS).
State-wide tax exemptions in Pennsylvania
Unfortunately, there are no state-wide tax exemptions available in Pennsylvania for solar energy.
State-specific laws on Solar Easements in Pennsylvania
Pennsylvania does not have any specific laws on solar easements. Solar easements are legal agreements that allow property owners to ensure that their solar panels will not be shaded by neighboring properties.
Net Metering in Pennsylvania
The power generated by solar panels in Pennsylvania is credited through a system of net metering. This system allows solar panel owners to sell excess electricity back to the grid, offsetting the cost of electricity and making solar energy more affordable.
Benefits of Going Solar in Pennsylvania
There are many benefits to going solar in Pennsylvania, including reduced electricity bills, increased property value, improved home resale value, and tax incentives. By installing solar panels, residents and businesses can reduce their energy costs and help to protect the environment.
Conclusion
Pennsylvania is a state that is rich in solar energy and has a wealth of incentives and rebates that can help residents and businesses to install solar panels and harness the power of the sun. These incentives include the Federal Investment Tax Credit and local city and utility rebates. While there is no state tax credit, the various options available can still help to offset the cost of solar panel installation and make it affordable for anyone considering going solar.
FAQs
What kind of incentives are available for solar energy in Pennsylvania?The most significant incentive is the Federal Investment Tax Credit (ITC). Additionally, the State provides various other incentives such as Solar Renewable Energy Certificates (SRECs), net metering, and local city and utility rebates.
Is there a state tax credit for solar energy in Pennsylvania?
No, there is no state tax credit for solar energy in Pennsylvania. However, there are other incentives available such as Solar Renewable Energy Certificates (SRECs), net metering, and local city and utility rebates.
Does Pennsylvania have any specific laws on solar easements?
No, Pennsylvania does not have any specific laws on solar easements.
How does the power generated by solar panels in Pennsylvania get credited?
The power generated by solar panels in Pennsylvania is credited through a system of net metering. This system allows solar panel owners to sell excess electricity back to the grid, offsetting the cost of electricity and making solar energy more affordable.
What are the benefits of going solar in Pennsylvania?
The benefits of going solar in Pennsylvania include reduced electricity bills, increased property value, improved home resale value, and tax incentives such as the Federal Investment Tax Credit (ITC). Find expert reviews of verified solar companies in Pennsylvania at SolarEmpower.
