Pennsylvania Sunshine Program

Click here to read about the PA Sunshine Program.

Solar Renewable Energy Credits

Solar Renewable Energy Credits are another revenue stream for owner's of solar PV systems. These credits are sold by the individual or through a broker on the SREC market.

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Here's another example of a 5 kW solar PV roof mount cost analysis:

PV System Size: 4,950 watt or 5 kW

Yearly Energy Production: 5,508 kWh*

PV System Installed Cost: (before rebates) $32,175**

Cost Per Watt: $6.50

PA Sunshine Rebate: $8,662 ($1.75/watt)

Federal Tax Credit: $9,652

PV System Cost after incentives: $13,861

Yearly Solar Renewable Energy Credit (SREC): $1,817.00***

First Year ROI: 16%

Payback Timeframe: 6 years***

*Yearly energy production for the above PV system was calculated from datasets from Wilkes Barre, PA (source: National Renewable Energy Laboratory).

**Installed cost includes PV equipment, shipping, permits, PA Sunshine application fee, taxes and all material and labor required to complete the PV install.

***SREC approximation is based on the current market value and may increase or decrease depending on the SREC market.

****Factors used to calculate payback timeframe included $.145 per kWh, per SREC value of $330, power utility rate increase of .05% year or year.