Austin Energy commercial and multi-family customers may now apply for a performance-based incentive (PBI) rather than receiving an upfront rebate on the installation of solar systems. Austin Energy will pay a fixed payment for each kilowatt-hour of electricity produced over a 10-year period to the solar system owner and expects the program to encourage proper design and maintenance of systems to maximize production. Over the next five years, the PBI program is expected to pay an average of 8.0¢/kWh with funding being sufficient to support almost 260 solar systems, each up to 20 kW in size. Total PBI payments over the next 14 years under the plan are projected at $4.8 million.
Residential customers can also receive rebates of $2.50 per installed watt with annual rebates limited to $15K with maximum rebates set at $50K over the life of installations at a single property.
News Release - Austin Energy Launches Innovative Solar Incentive
Additional Information - Austin Energy's Power Saver Program - Solar Photovoltaics
Contact: Ed Clark, 512-322-6514