After servicing New Jersey for nearly a decade, it only made sense for Suntuity Solar to expand outside of its borders into Pennsylvania. In a relatively untapped landscape, there is a lot of potential in the Keystone State ─ solar prices have dropped 38% just in the last 5 years but only ranks #22 on the national scale for solar capacity.*
It’s time to start the trend in your community! Lower your monthly expenses and then recommend your family and friends ─ we’ll reward you with every completed solar installation.
The ITC is a driving force behind increased solar adoption in the United States. Since its implementation in 2006, solar installation has grown by over 1600% with an average annual growth rate of 76%.
The tax credit is available for purchased solar systems is worth 26% of the cost of the system, which is paid back to the homeowner and determined by the amount of the individual’s taxable income that year.
While not as strong of a market as other states, SRECs are still an added perk for switching to cleaner energy in Pennsylvania. One SREC (solar renewable energy certificate) is earned for every 1,000 kilowatt-hours (kWh) of solar energy that your system produces, incentivizing carbon-neutral energy in the form of credits that can be sold back to your utility company.
Net metering is a utility billing system the will credit homeowners for any excess electricity that their solar system produces. The excess power is sent back into the grid for community use through a bidirectional meter. The credits provided are meant to supplement the homeowner’s energy use at night or when it’s cloudy when the system isn’t producing as much.
Want to take advantage of these great tax incentives?
While Pennsylvania was off to a slow start in solar, the state is projected to add another 1,185 MW to its portfolio over the next 5 years. With over 29,000 solar installations completed, here are some additional statistics regarding Pennsylvania’s solar landscape: