Philadelphia Solar Panels Incentives

For each megawatt hour of energy you produce you earn an srec.

Philadelphia solar panels incentives.

The philadelphia solar incentive program gives all property owners an additional incentive to install a solar photovoltaic system and would be in effect from january 1 2020 through december 31 2024. If you re lucky enough to live in philadelphia you can access new 20 per watt home solar rebates. Solar panel cost data philadelphia 2020 updated. This is lower than the average price of residential solar power systems across the united states which is currently 2 60 per watt.

Solar installation costs do not include the 26 federal investment tax credit or local incentives. Philly plays host to 10 of the state s population so the rebates have a chance to make a real impact in the lives of people who want to go solar in 2020. Going solar in the keystone state is easier than ever and pennsylvanians are saving hundreds on their electricity bills with solar. Solar renewable energy credit srec the third major financial incentive program available in pennsylvania is the solar renewable energy credit srec scheme sometimes referred to as solar power performance payments or production incentives.

This one time incentive payment will be issued by the city after the solar project has been installed and has received permission to operate from peco. The value of solar incentives in pennsylvania is even greater when taking into account the recent extension of the federal investment tax credit itc for solar. Save money by installing solar panels in pa. In addition to the state specific incentives and programs mentioned above you can reduce the cost of your solar panels system by 30 percent thanks to this great government program.

Philadelphia city council and mayor kenney established the rebate in 2019 to take action on climate change and drive local economic development.