Arkansas Solar Panel Rebate

If you buy your system in cash or with a solar loan that means you also get the tax credits rebates and srecs for the system however if you lease your system the third party owner will receive all of the solar incentives.

Arkansas solar panel rebate.

Rebate program funds are budgeted on an annual basis and is subject to approval by the arkansas public service commission. Eligible equipment includes furnaces back up furnace systems hydronic heaters storage water heaters and tankless water heaters. As of sep 2020 the average cost of solar panels in arkansas is 2 63 per watt making a typical 6000 watt 6 kw solar system 11 677 after claiming the 26 federal solar tax credit now available. Rebates are awarded on a first come first serve basis until funds are depleted.

Arkansas tax credits for solar panel systems. Entergy arkansas purchases 81 mw of solar energy from stuttgart solar llc a subsidiary of nextera energy resources at a solar facility near stuttgart and will purchase another 100 mw of solar energy from nextera s chicot solar project at lake village when the plant comes online in 2020. All of the financial benefits listed below go to the owner of the solar panel system. Arkansas has lots of sunshine and some laws that are favorable for solar power and renewable energy.

Arkansas has no state level incentives tax breaks and rebates for solar power but you have access to the 30 federal tax credit which can greatly reduce your initial investment when you install a pv array. An average sized residential solar system about 400 square feet of solar panels costs 18 000 according to the solar energy industries association an industry group. Arkansas solar power incentives tax breaks and rebates. Finally the solar incentives section includes information about money back rebates and grants tax credits and tax exemptions for going solar in arkansas.

You also have access to an excellent net metering policy which maximizes savings obtained per kwh produced by your pv system. This is higher than the average price of residential solar power systems across the united states which is currently 2 55 per watt. Solar panel cost data arkansas 2020 updated. Also keep in mind that the federal government offers a 30 tax credit for the whole installed cost of your system that s a huge benefit available to you no matter where you live in the us.

The solar investment tax credit is a generous 26 tax credit available to homeowners and business owners who install environmentally friendly solar panels. Click any of the boxes below to go to that section of the page or scroll down to read the page in order.