Solar Rebates: Renewable Energy for Missouri
French Gerleman prides itself in offering the latest and most accurate information regarding automation and electrical needs to its customers. In doing this, we have made it our goal to become well versed with three major electrical utility companies in Missouri: Ameren Missouri, KCP&L and Empire Electric (Joplin, MO).
All of these work with their customers to ensure the best quality utility resources as well as meeting their electrical needs. The most recent electrical industry trend is renewable energy, particularly solar power.
Benefits of utilizing renewable energy in your home and business
In 2008, Missourians voted to begin the Missouri Renewable Energy Standard (RES), otherwise known as Proposition C. This requires that utility companies gradually phase in electricity generated by renewable energy sources such as solar, wind, biomass and hydropower. This began with at least 2% of the energy sold coming from renewable sources in 2011, leading to the projected 15% of the energy sold by 2020.
Ameren Missouri and KCP&L became the first Missouri utilities to start crediting rebates to its customers. This process didn’t actually start until the year 2013. By law, these energy providers were required to meet a percentage of their sales with renewable sources (2%), from the time the Renewable Energy Standard passed until they had reached their “cap” of 15%.
What does this mean for solar energy customers?
With a steady decrease in dollar per watt solar rebate, customers are urged to submit the Completion Requirements Application by the deadlines listed below to qualify for a rebate.
There is also a Federal Tax Credit of 30% available based on the total cost of the installed solar system. This credit is available for both commercial and residential systems installed prior to December 31, 2016.
After December 31, 2016, there will no longer be a Federal tax credit available for residential systems. Commercial systems reduce to a 10% tax credit.
Based on Empire Electric’s calculations ($1 per watt), the average residential unit would be 5 kW and the customer’s cost of installation would be around $15,000. The advertised rebate would cover $5,000 of the original cost ($1 x 5,000 watts, 1kW= 1,000 watts) and if the customer was to apply for the Federal Tax Credit, 30% of the total cost of installation, $4,500, would be credited as well.
Where can you find more information and stay up-to-date on the latest in Solar Energy News?
KCP&L at $50 million, has already reached its cap on solar rebates for their customers and provide a detailed chart for your convenience on their website.
Ameren Missouri at $91.9 million, has also reached their cap on solar rebates for their customers.
Empire Electric, in Joplin, is now giving rebates to their customers. You may still have time to apply for the rebate program. Their cap is estimated to be anywhere between $4 and $5 million, so the sooner you apply the better!
Ready to go green with solar?
Are you interested in solar for your home or business? Contact our Clean Energy team by completing this web form or calling 1-800-333-3122, ext. 5958. You can also visit our Solar Solutions webpage for additional information.