Electricity Price Stability: Solar power creates a financial hedge against rising utility costs by generating predictable, sustainable renewable energy.
Investment Tax Credits (ITC): Federal Government through Department of Treasury offer a 30% investment tax credit for qualified project expenses to provide incentive for Solar development. As a system owner you also take advantage of an accelerated depreciation model for your Solar Generating assets.
Solar Renewable Energy Credits (SRECs): Each time a solar system generates
1,000 kWh of electricity, an SREC is earned and placed in the customer's electronic account. SRECs can then be sold on the SREC tracking system, providing revenue for the first 15 years of the system's life.
Electricity suppliers, the primary purchasers of SRECs, are required to pay a Solar Alternative Compliance Payment (SACP) if they do not meet the requirements of a particular State’s Solar Renewable Portfolio Standard (RPS). One way they can meet their RPS is by purchasing SRECs.