This dynamic industry has just added another incentive for homeowners to “Go Green!’ Now customers will benefit monetarily with a “Buy-Back’ from their utility company.
One of the biggest advantages of a solar-powered home has been “net metering.’ Under this program, the homeowner sells a portion of the electricity they produce to the electric company, either APS or SRP. The meter actually runs backward indicating their solar panels are producing more power than the home requires. This excess electricity flows back to the utility company’s grid and creates a credit on the homeowner’s utility bill.
In the past, at the end of the year the utility company would zero out all credits and start fresh as of January 1st. The Arizona Corporation Commission has just approved APS to actually pay solar customers for any credit they have as of December 31 each year! For some customers this can be a significant check to look forward to each year.
The program, EPR 6, allows customers to install a PV solar system that would produce up to 125% of their current demand. APS will buy-back any remaining credits at the end of the year at the following rates:
This truly is an incredible time for customers to “Go Green!’ It all adds up: The sizable rebates from APS and SRP, a 30% Federal tax credit that can be taken in its entirety the following year with a carry- forward of five years on any unused portion, the $1000 State tax credit and now the ability to receive a check from the utility company all combine to make this one of the best investments a person can make.
Solar Energy Consultant