Arkansas Solar Installation Agreement
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How to fill out Solar Installation Agreement?
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FAQ
The 2019 session's Solar Access Act is credited by advocates and those in the industry with accelerating the growth of solar power in the state. The law increased the solar project maximum from 300 kilowatts to 1 megawatt, establishing full retail credit for net-metering or selling excess power back into the grid.
In Arkansas, Net-Metering is available to residential customers whose solar system has generating capacity up to 25 kilowatts (kW). For reference, a 25-kW solar system will produce approximately 35,000 kWh per year, with the average household only using approximately 14,500 kWh, annually.
Summary of Arkansas solar incentives 2022Arkansas continues to be a strong place to consider investing in home solar, because costs have fallen and there's a high amount of sunshine blanketing the state. It also helps that there is a strong net metering policy in effect.
The difference between a solar lease and solar PPA is simple: With a lease, you pay a fixed monthly rent in return for use of the system. With a PPA you pay a fixed price per kWh for power generated.
In Arkansas, Net Metering is offered through all utility companies and you will get credited for full retail electricity rates when your property produces more solar power than you are using. In Arkansas, systems partaking in Net Metering are permitted to be up to 25 kW in size.
A solar power purchase agreement (PPA) is a financial agreement where a developer arranges for the design, permitting, financing and installation of a solar energy system on a customer's property at little to no cost.
The Act creates a legal framework for solar access. It includes limited protections to allow consumers access to sunlight and to limit the ability of HOAs and local governments from preventing the installation of solar energy systems.
Introduced in 2005, the credit was originally a 30% tax credit that is now in the process of phasing out. Projects starting construction in 2021 and 2022 will receive a 26% credit and those starting 2023 will receive a 22% credit.
A PPA is a great option for households who cannot afford to buy solar panels outright. However for those homeowners who do have the spare cash required to purchase solar panels outright, the return on investment will be much greater by buying instead of leasing or entering a Power Purchase Agreement.
Are solar panels worth it in Arkansas In 2020 they also remain subsidized by the 26% federal tax credit and the net metering law, making them an excellent investment. They offer a return well above the long term average return from both the share market and also property investment.
