Stake Claim to TVA’s Solar Incentive Before End of the Year
TVA’s Green Power Providers is now available! However, there is a 2.5 megawatt cap for the rest of 2012. Plus, TVA expects their solar premium to drop from 12 cents to 9 cents on January 1st, 2013. We’re encouraging anyone interested in installing solar within the next 6 months to contact us now in order to lock-in the 12 cent premium while it is still available.
What difference does 3 cents make? The bigger the system, the bigger the impact. Here are two examples:
1. An average sized residential system is 5 kilowatts and generates about 6,570 kilowatt-hours (kWh) per year: 6,570 kWh x $.03 = $200/year. Over 10 years, that’s $2,000.
2. For businesses installing 50 kilowatts, that’s $2,000 per year or $20,000 over 10 years!
Here are program details to consider:
- Green Power Providers will keep the $0.12 solar premium for projects with Participation Agreements executed by December 31, 2012. However, TVA will stop accepting Participation Agreements on December 1, 2012 and resume acceptance in January.
- Local distributors usually take 2-4 weeks to send project documents to TVA, so we encourage application submittals by November 1, 2012. Some utilities can take even longer, so it is important to get started as soon as possible.