PV and Thermal Solar Incentives
OUC’s solar incentives include Net Metering and production credits for solar PV systems.
Any time a customer’s solar PV system generates more energy than the home/business can use, the excess energy will flow out to the OUC grid and OUC will purchase the kWhs from the customer at the customer's retail electric rate.
Photovoltaic Credit Program
Once the solar PV system passes the required inspections, customers receive a monthly credit on their OUC bill of 5.0 cents per kWh produced by the solar system regardless of whether the energy was used by the customer or sent back to the OUC grid. To provide customer credits, OUC requires the solar installer to provide and install a steel electric meter base with the solar system.
Solar Thermal Incentive Program
Once the solar Thermal system passes the required inspections, customers receive a monthly credit on their OUC bill of 3.0 cents per kWh produced by the solar system. OUC also process a one-time $250 credit towards the installation of the BTU meter on the OUC bill.
Federal Tax Credits
The Energy Policy Act of 2005 (H.R. 6, Sec. 1335) established a 30 percent tax credit for the purchase and installation of residential solar electric and solar water heating property. An individual can take both a credit for a photovoltaic system and a credit for a solar water heating system. Initially scheduled to expire at the end of 2007, the tax credits were extended through December 31, 2016, by Section 1122 of The American Recovery and Extension Act of 2008 (H.R. 1). Please check with your tax advisor to verify your tax savings prior to the purchase and installation of a solar system. For more information, visit the Energy Policy Act of 2005 on the IRS website or contact the Internal Revenue Service directly at 800. 829.1040. To learn more, visit the tax credits page of the Energy Star website.