Missouri Is Getting Paid To Go Solar
Missouri as a strong Renewable Portfolio Standard (RPS) which means they are quickly converting the renewable energy to meet a specific deadline in the year 2021. Utilities must meet this goal by either producing their own clean energy or purchasing it through customers or pay higher fees.
How the Missouri Solar Incentive Works
Net Metering allows solar power producers to transfer excess solar energy back to the grid to receive compensation. This excess power is collected when your solar energy system is producing more energy than you are using. Net Metering in Missouri is strong, and utilities benefit by getting closer to their deadline in 2021.
In Missouri, it is mandated that electrical corporations (utility companies) make solar rebates available for any solar arrays that became operational or have expanded between June 30, 2019 and December 31, 2023. This rebate is a twenty-five cent per watt ($.25/w) up to 25kW per system for residential and 150 kW per system for commercial properties. Kansas City Power and Light Company, KCP&L Greater Missouri Operations Company, Ameren Missouri and Empire District Electric Company are the participating utilities companies. Often there are applications, permits and forms to fill out to get approval for the installation and credits. Let a seasoned solar energy developer help you through the process to be sure that you get all of the incentives and grants available.
Missouri, Go Solar with Sunvest
Missouri doesn’t have statewide interconnection standards that apply to both the electricity customers and utilities. This makes the process easier and less expensive and can be a benefit when bringing a solar energy system online.
Missouri does not offer performance-based incentives but does support electricity produced with Solar Renewable Energy Credits (SRECs). This is a great way to help your solar power system pay for itself. SRECs require an application and registration process as well as job documentation to receive payment. Work with a trusted developer to make sure that you don’t miss any savings opportunities.
Property Tax Exemptions are available in the state of Missouri making installing solar energy for residential or commercial properties more feasible. Solar energy systems would raise the value of you building and as a result increasing property taxes due. This exemption allows businesses and homeowners to exclude the added value of the system from the evaluation.
Commercial and residential customers in Missouri are eligible for the Federal Investment Tax Credit (ITC), which is a 26% tax credit on solar equipment and installation. With these benefits combined, your solar energy system could pay itself off in less than 5 years.