The price for solar & wind is now almost competitive with fossil fuel electricity in most locations around the country. Current federal and state incentives are being reduced, and many will expire soon. While solar will continue to be cost-competitive with traditional electricity even after the tax incentives change in 2016, those who take action soon will gain the best returns — and largest savings.
According to a study by the investment banking firm Lazard, the cost of utility-scale solar energy is as low as 5.6 cents a kilowatt-hour, and wind is as low as 1.4 cents. In comparison, natural gas comes at 6.1 cents a kilowatt-hour on the low end and coal at 6.6 cents. Without subsidies, the firm’s analysis shows, solar costs about 7.2 cents a kilowatt-hour at the low end, with wind at 3.7 cents.
It is now possible for municipal, school, and other electricity customers to “go solar” with ZERO cash outlay – saving money immediately and over the long-term with Solar Power Purchase Agreements (PPAs).
In addition to federal tax incentives that allow private companies to gain tax benefits from Public-Private partnerships – the main driver for the immediate and long-term savings comes from the NYSERDA cash incentive programs.
In April, NYS Governor Andrew Cuomo announced the $1 Billion NY Sun program.
As per the release: “To drive market penetration on a large-scale basis, the PSC order provides long-term, stable funding over a 10-year period to support photovoltaic (PV) projects throughout the state. In doing so, the PSC approved a transition to a “Megawatt Block incentive structure” that allocates MWs to specific regions of the State; breaks those regional MW targets into blocks to which incentives are assigned; and awards incentives based upon the block in effect at the time…. The key to the MW Block model is to enable the market to grow at its own pace, enabling a self-sustaining industry in the long run. As the blocks are fulfilled, incentives will decline at the rate the market will bear.”
NYSERDA recently announced their new “MW Block Program” for larger systems. The incentives are start at 63c per watt for ConEd customers, and at only 36c for the rest of the state — then rapidly decline as additional customers sign on.
EarthKind is urging all NYS utility customers to consider signing up for solar NOW – before the incentives decline (and ultimately disappear). If you are a commercial customer, you can still gain the benefits of solar – even if you don’t have a good solar location – through “Remote Net Metering”.
Contact EarthKind to investigate the opportunities today.