Oncor Electric Delivery Co. LLC, a Dallas-based regulated electricity distribution and transmission business, has extended its solar photovoltaic program, which offers incentives for the installation of qualifying solar PV systems.
The success of the program helped to develop the solar PV market in Oncor's service area faster than expected, the company says. Earlier this year, Oncor nearly doubled funding for the program, and the budget was still fully subscribed in only two months.
Oncor is re-allocating program budget funds from 2011 and 2012 to meet consumer demand. Due to these increased funds, Oncor expects to re-open the program to new applications within the next month.
The program's new incentive funds will have lower project incentive rates to ensure that it will serve a larger number of program participation requests. Oncor will offer an incentive rate of $2.25 per DC watt, up to a maximum of $22,500 for approved residential projects, and $1.75 per DC watt up to a maximum of $175,000 for approved nonresidential projects. These new rates will apply to approved projects that have not previously reserved funds from the program.
SOURCE: Oncor Electric Delivery Co.