The incentives will provide technical support and incentives for the installation of renewable generation systems. Under the pilot program, customers sell all of the power they generate to TVA at a premium price, and the local power company credits the customer for the generation received through a credit on their monthly electric bill.
The expanded pilot program offers new participating customers a one-time incentive of $1000 to help offset the startup costs for installing qualifying renewable resources, such as wind and solar generation.
The maximum installation size has been increased to 999 kilowatts, and the price TVA pays for the generation is now 12 cents per kilowatt-hour above the local electric rate for solar and 3 cents per kilowatt-hour for wind, low impact hydro, and biomass, including the Fuel Cost Adjustment.
In partnership with local distributors, TVA has offered the Generations Partners pilot program since 2003, and 68 homeowners in the region currently participate.
“The Generation Partners program allows TVA and local power distributors to work together with those customers who are interested in expanding renewable energy across the Valley,” said TVA Senior Manager of Generation Partners Susan Ross. “Now we are including even more eligible renewable resources and additional incentives to make the program more attractive to more customers.”
“We also encourage anyone thinking about purchasing renewable energy sources to check out the federal and state tax credits that may be available,” said Ross.
