Adding solar panels and switching rate plans can lower your Metropolitan Edison electric bill
Updated: October 22, 2020Installing solar panels can help reduce your Met Ed bill, thanks to Florida’s sunshine and the company’s net metering program! Combined with the 30% solar tax credit, KUA customers can see great savings when they switch to solar!
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Solar panel cost calculator
Are solar panels worth it for Metropolitan Edison customers?
Absolutely. Pennsylvania has a solid SREC program which amounts to annual cash payments in your pocket for you when you go solar as a Metropolitan Edison customer. Metropolitan’s net metering policy also ensures you get credited on your power bill at full retail rates for the excess solar electricity your panels produce. Your credits are rolled over and applied to your next month’s bill.
Does Metropolitan Edison offer net metering credits for exported solar power?
Yes, Metropolitan Edison offers net metering credits.
Under the Metropolitan Edison net metering program, solar panels will first send energy to your home. Any excess solar energy is sent to the grid and purchased in the form of a bill credit. The credit value is determined by the Tri-Party Net Metering Power Purchase Agreement. KUA customers are billed for all of the electric energy delivered to them by the company.
If you have excess energy credits after offsetting your usage over the course of a year, Met Ed will pay you out for those credits at lower "price to compare" rate. After that, the amount of excess energy in your account will be reset to zero.
What incentives, tax credits, and rebates are available to Met Ed customers for installing solar?
The biggest financial incentive for solar homeowners is the 30% federal solar tax credit. The tax credit equals 30% of the solar installation costs and directly reduces your federal income tax liability.
Some states and local governments offer additional solar incentives. These incentives include state tax credits, rebates, or performance-based incentives like Solar Renewable Energy Credits (SRECs). The best part is that these local incentives can be used in addition to the federal tax credit!
Here is every incentive you may be eligible for as a Met Ed customer:
Table 1: Incentives
| Upfront Incentives | Value* |
|---|---|
| Residential Clean Energy Tax Credit (Federal) | -$7,464 |
|
Solar Alternative Energy Credits
(State)
Current pricing is around $43 for 2021 SRECs. |
Varies |
|
Net Metering
(State)
Electric distribution companies must credit a customer generator the full retail rate for each excess kWh produced. |
Varies |
| TOTAL | -$7,464 |
*Based on 11.60 kW system, average installation cost $24,879
How much does installing solar panels save the average Metropolitan Edison residential customer?
If you input the details for a Met Ed customer with a power bill of $140 per month into the best online solar panels calculator, it tells you that you need a 11.60 kW solar system that will produce 13,968 kWh per year and that this system will return the owner a $33,716 profit after repaying the cost of the system.
The solar savings possible for you as a Met Ed customer will depend on the amount of electricity you use and the cost of the solar system you buy. Savings also vary based on the direction of your roof or any shading of your roof that affects output.
Here is a monthly and lifetime solar savings estimate for the same relatively typical Met Ed customer with a $140 per month electric bill prior to solar and who installs a 11.60 kW solar system.
How much do residential solar panels cost for Met Ed customers?
Showing data for:
Prices based on a 10.5kW system, after 30% federal tax credit
Solar prices near you
Net profit (savings less system cost)
$29,389-$35,920
Payback period
9.1-11.2 years
Recommended size for the selected utility bill
10.5kW
Solar panel cost calculator
Detailed information about your estimate
Table 2: Estimate details
|
System Size (for 100% usage offset) 11.6 kW |
|
Annual Power Generation 13,968 kWh |
|
Pay-back time (assuming Cash purchase) 10.7 Years |
|
Internal Rate of Return (IRR) on Investment 3.6% |
|
Gross cost $24,879 |
|
Total Upfront Incentives and Rebates -$6,468 |
|
Net Cost of System after rebates and incentives $18,409 |
|
Total Cost of Utility Power Avoided over 25 years $52,125 |
Please note that the investment return figures do not include the possible increase in property value.
What are the environmental impacts of Metropolitan Edison customers installing solar panels?
While most homeowners decide to install solar panels because of financial savings over time, the environmental impacts of this choice are the primary motive for others. Here is a breakdown of the environmental benefits from a Metropolitan Edison customer installing a 11.6 kW solar system on their property:
A solar system generating 13,968 kWh per year will save you money AND make the world a nicer place
Saves you
$1,349
on average per year
Reduces CO2 emissions
6.91
tons per year
Equivalent to planting
48 trees
per year
Equivalent to driving
15,295 mi
less per year
CO2 emissions calculation based on the electricity generation and emissions data for your state in 2015 as published by the US Government Energy Information Administration.
What factors affect the price of solar panels for Metropolitan Edison customers?
The cost of installing solar panels will vary with brands of solar panels and inverters you choose and also the installation company you choose to install them.
It is common to see really good systems, using quality brands of equipment, being sold for around $2.14 per watt or $18,409 for a standard 11.60 kW solar system after the customer claims the 30% federal solar tax credit.