Comparing Mississippi Solar Panel Options, the chart below gives you an idea of the costs and returns for each solar option available to Mississippi residents purchase, purchase with credit, and small solar.
Without it, utilities dont have any real incentive or push to adopt renewable energy themselves or encourage it among its customers, leading to a stagnant solar industry.
In these situations, what do you do?
If youre a co-op customer, youll need to call up your utility to find out exactly how their net metering works.However, these tax incentives are small potatoes when compared to the federal tax credit, so dont be too disappointed!Aprivate study commissioned by the Utility Commission found that under almost any possible scenario, solar would be beneficial to both the consumer and the utility companies, but the utilities continue to push back against uniform rules.Mississippi charges state tax on solar.Bottom Line: All that being said, paying for a system in cash is the most sure-fire way to save money by going solar in Mississippi and even without great net metering, you can still tesco vouchers boost save thousands.Bottom Line: Even if you dont have the cash to purchase your installation, youre not totally out of options!TVA Green Power Program If youre looking to make some cash from your solar installation and are customer of a TVA utility, check out their Green Power Program.High electricity prices mean high savings.Theyre about.01 lower than the national average and on par with prices in nearby Alabama, Kentucky, and Tennessee.However, even with just the federal tax credit, youre still getting a severely discounted installation!As the system owner, the installation can add value to your home as well (more on this later).That tax credit means you are 4900 ahead the first year!As we already mentioned, utilities raise rates every couple of years as well!For the first 500 kWh you use each month, youll pay.09 per kWh.Entergy, the electricity provider for the Jackson area, uses a tiered rate structure for residential customers.Some Positive Signs for Solar in Mississippi.In 2020, it drops to 26, then 22 in 2021.What this means for the state is that there is no incentive for power companies to convert from dirty power to clean solar and other renewable.If you must take out a loan, remember to shop around for the best deal, as interest rates and loan lengths greatly affect your total savings.
Renewable Portfolio Standard Mississippi is one of only 13 states that have yet to pass any form of renewable energy goals, known as Renewable Portfolio Standards (RPS).