Along with public-sector initiatives like tax credits, some energy utilities offer or participate in programs that help solar customers offset the costs of installation.
Here’s a selected handful:
Xcel Energy—Solar Rewards
This residential and commercial plan offers regular monthly incentive payments in exchange for Renewable Energy Credits (RECs) for the energy produced by your system. If you produce more energy than you need, that extra goes to Xcel’s grid, and is credited to your account.
SolarSense offers rebates to reduce the upfront costs of installing solar, on a first-come, first-served basis. According to the utility, “if more applications are received than funds available, names will be placed on a wait list. Annual budgets for the SolarSense program are approved through 2020.”
MidAmerican Energy—Interstate Power and Light (net metering programs)
Although Iowa has no official net metering policies, these utilities offer the practice. With net metering, you send extra, unused electricity back into the grid and get credits on your electric bill. Then when your panels are producing less power than you need, you can use your credits to claim additional power without additional cost.
The utility works with the state-level NY-Sun Initiative and its Megawatt Block program, providing rebates and performance incentives that offer major discounts to New Yorkers who install residential or commercial solar systems. “The discounts are delivered in a dollar per watt format with the incentive rate determined by the region’s current Block.,” according to the programs web site. “Blocks work by offering a specific incentive amount until the [Block’s] megawatt limit is reached, at which point the next Block begins with a different (lower) incentive rate.”
Focus on Energy
This is an initiative of 107 electric and natural gas utilities that offers “cash incentives for qualified solar electric installations.”
For more on strategies to make solar affordable, see our eBook, “Tax Incentives Explained.”
Download our eBook, Solar Tax Incentives Explained, to learn more about the financial assistance offered and why it's important to act as quickly as possible!