Feed-in Tariffs (FiTs): Some states and territories offer FiTs, which allow solar system owners to sell excess electricity generated by their system back to the grid. The rate at which electricity is purchased can vary depending on the state or territory.

May 10, 2024by Luke0

Net Metering: Net metering allows Solar system owners to receive credits on their electricity bill for excess electricity generated by their system that is fed back into the grid. This means that the electricity generated by the Solar system offsets the electricity consumed from the grid, resulting in lower electricity bills.

Solar Renewable Energy Certificates (SRECs): SRECs are tradable certificates that represent the renewable energy benefits of generating electricity from Solar energy. Solar system owners can earn SRECs for every megawatt-hour of electricity generated by their system, which can be sold to utilities or other entities to meet renewable energy targets.

Tax Incentives: Many states and territories offer tax incentives, such as rebates or tax credits, to encourage the installation of Solar energy systems. These incentives can help offset the upfront costs of installing a Solar system and make Solar energy more affordable for homeowners and businesses.

Property Assessed Clean Energy (PACE) Financing: PACE financing allows property owners to finance the upfront costs of installing a Solar energy system through a special assessment on their property taxes. This allows property owners to pay for the Solar system over time, making it more affordable and accessible.

It is important for Solar system owners to research and understand the various financial incentives available in their state or territory to maximize the benefits of installing a Solar energy system. By taking advantage of these incentives, homeowners and businesses can save money on their electricity bills, reduce their carbon footprint, and contribute to a more sustainable energy future.

Share on:

Leave a Reply

Your email address will not be published. Required fields are marked *