Harness the Power (and Savings) of the Sun:
Getting New Solar Rebates through PECO Ways to Save

As of June 1, 2023, PECO Ways to Save has added solar to its list of options eligible for custom rebates. Businesses that invest in new solar system installations can capture incentives of $0.10 per kWh saved. This is a great savings opportunity for businesses in the Greater Philadelphia area, especially as the cost of electricity continues to rise.

Eligibility Requirements for Solar Rebates

Commercial and industrial customers will be eligible for financial incentives based on their installation of a solar PV (photovoltaic) system. Components of a solar PV system include solar panels, a controller, a battery bank, an inverter, and a power meter.

To ensure rebate eligibility, customers must also:

• Install & operate the solar-power system,
• Be able to provide hourly/daily solar electricity usage data,                          
• Get approval from PECO by May 31, 2026.

Financial Incentives Available for Companies Going Solar

The incentive being provided by PECO is a custom rebate available through their Ways to Save program. Businesses can receive $0.10 per kWh saved in the first year of solar power production (minus any kWh utilized from the power grid). The rebate amount is capped at the total project cost. The total project cost can include both the cost of solar products as well as any labor costs accrued from contractors during installation. (Please note: Internal labor costs cannot be included.)

How Much Can You Really Save by Going Solar?

Things to consider...

1. Have you maximized your efficiency?
   1. This includes switching your lighting to the options that will consume the lowest amounts of energy. For indoors, this will be LED lights. For outdoor lighting, this will be LED solar lighting.
   2. Adding smart controls both indoors and outdoors will also be important, as it will ensure your lighting is not in use when it is unneeded.
2. Are you eligible for utility rebates and how much?
   1. If you own a commercial property that is serviced by PECO, you could receive up to 99% of your upfront costs covered if you choose to switch to more efficient LED lighting.
   2. If you follow the requirements outlined above when installing and operating a solar system, you can receive up to 100% of your project costs covered within the first year through monthly energy bill incentives.
3. Can you receive any federal tax credits?
   1. As of April 2023, businesses (as well as nonprofits and tribal governments) that purchase solar energy systems can apply for one of two tax credits:
      1. The Investment Tax Credit, which reduces federal tax liability by up to 30% of the cost of a solar system installed during that tax year.
      2. The Production Tax Credit is a per kWh tax credit based on solar electricity generated throughout the first 10 years of system operation (adjusted annually for inflation).
          

         For more information on these federal clean energy programs, visit https://www.energy.gov/eere/solar/federal-solar-tax-credits-businesses.

 Interested in Choosing Energy-Efficiency for Your Business?

Check out our energy-efficient, rebate-eligible LED Lighting and Solar Lighting.

See if your LED Lighting or PV Solar System project qualifies for financial incentives by Checking Utility Rebate Eligibility.

Or reach out to our team with any questions at the contact info below!