Federal Incentives: All three types of renewable energy systems are eligible for a 30% Federal Tax Credit. Customers take advantage of this program when they file their taxes. This opportunity extends through 2016. Please check with your tax advisor to determine how this incentive will benefit your situation.
State Incentives: The Pennsylvania Sunshine Grant Program is currently available for installed solar/photovoltaic systems. This program offers residential solar customers a rebate for each watt of solar energy installed on a home. There is a very limited amount of funds available for this program, so now is the best time to take advantage of this incentive!
REC’s: Renewable Energy Credits can earn you money for producing solar electricity. For every 1000 kilowatt hours (kWhrs) a system produces, one REC is generated. Currently, RECs are valued at approximately $20.
Financing: While a secured loan will always yield a better interest rate (i.e. a home equity line of credit), unsecured loans are available through Pennsylvania Keystone Help Program. These loans cover a variety of home improvement investments, including solar and solar thermal systems.
Utility Companies: Some utility companies offer incentives for renewable energy systems and home energy audits. Check with your current provider to see if they can help.
For the most up-to-date information on incentives in any state, visit DSIREUSA.org.