SolarReviews | Wyoming Solar Power Rebates and Incentives

Solar Power Rebates, Tax Credits and Solar Panel Incentives in Wyoming; 2012 Update

Wyoming incentives to purchase a solar power system Wyoming offers a number of incentives to help residents install solar. First of all there is a sales tax exemption for purchases of renewable energy equipment, although this is about to expire in June 2012, unless extended. There are no up-front state rebates or state tax credits but with the price of solar panels now as much as 80% cheaper than it was three years ago a solar power system in Wyoming can still make great financial sense. The biggest single incentive for solar electricity panel purchases in Wyoming is the 30% Federal tax credit that is available until 2016. The second biggest incentive, and the one that over time is probably more important, is the availability of net metering which effectively gives Wyoming customers of electricity utilities a 1 for 1 credit for kwh (kilowatt hours) of electricity they feed back into the grid. The important thing to realize about this is that although Wyoming has quite cheap electricity (prices of around 9 cents per kwh on average), a solar system takes away usage of your most expensive kwh's of power, which are often as high as 12 cents per kwh For those of you who don't know power charges are stepped so that you pay more per kwh the more power you use in each period. Look at the example below to see why solar panelscan give a good return even in a state that has less support for solar than some other states. This is based on an irradiation level of 5.3 sun hours per day. (a sun hour is how many kilowatt hours of irradiation fall on 1 square metre of ground in an average day) Size of System (kw)

Size of System (kw) 5
Space required (square feet) 650
   
Price of system per watt $3.50
Price of power (marginal cost high usage kwh's) $ per kwh 0.12
Average daily kwh produced per 1 kw of solar 4.2
Total average daily production 21
Total Price (before incentives) $17,500.00
Federal Tax Credit $5,250.00
State Tax Credit $0
State Rebate (assuming PGE or SCE level 9, other utilities may be more) 0
   
Actual out of pocket cost after incentives claimed $12,250.00
   
Annual Power production 7665
Total Annual Energy savings based on net metering at 1:1 919.8
Cumulative Energy Savings 919.8
Annual Return on Investment 8% in the first year rising to 14% within 6 years assuming annual increases in electricity costs of 7 % per annum
   
Payback Time assuming 7% annual increase in power prices 8 years

Please remember that these numbers will need to be confirmed at the time of purchase with a licensed local installer as power yields and other information may make your system different to this typical example. Click "here" to get quotes from local solar installers.


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