The complete list of Wyoming solar incentives and tax credits for 2023
Wyoming ranks 42nd for installed solar capacity in the U.S., according to the Solar Energy Industries Association (SEIA). The state has just 143 megawatts of solar installed, almost all of which belongs to the utilities and was installed in 2018 and 2020. Homeowners have been slow to adopt solar in the Equality State, and no wonder. There are barely any incentives here to make going solar more cost-effective for the average household.
Reader note: Our top rated solar installer operating in Wyoming is currently SunPower.
By far, the biggest incentives for going solar in Wyoming are the federal solar investment tax credit of 30% and the cost savings by producing your own electricity on your rooftop! Some homeowners will be able to make a bit of extra cash through net metering, but other than that Wyoming provides no financial help for switching to renewables.
Wyoming Solar Incentives
|Net Metering in WY||Net metering is allowed in Wyoming with credits rolling over month to month and annual payouts for unused credits at the avoided cost rate.|
What Wyoming does have going for it is plenty of sunshine. The state gets 5.75 peak sun hours daily, which is much higher than the national average of 4 peak sun hours. So, even with the low cost of electricity here, Wyomingites stand to save money and maybe even make money from their home solar energy system.
Net metering in Wyoming
Wyoming allows for net metering with excess energy treated as a kWh credit or other compensation on the next month’s bill. Annually, the utility will purchase any unused credits, but only at its avoided-cost rate.
Wyrulec offers net metering, with any excess unused credits purchased at avoided cost rate the following month and annually. There is no requirement for residential solar producers to have liability insurance to sign up for net metering with Wyrulec.
Rocky Mountain Power also offers net metering, with any unused credits purchased annually at the utility’s avoided cost rate. Bridger Valley Electric Association (BVEA) offers a similar net metering program.
Final thoughts on state solar incentives in Wyoming
Wyoming doesn’t have laws regulating renewable portfolio standards, meaning there is no market for solar renewable energy certificates (SRECs) in the state. There are also no exemptions from state sales tax or property taxes associated with value added by solar installations in Wyoming.
No wonder there are only five solar installers and developers working in Wyoming!
The good news is that Wyoming utilities have to offer net metering programs, and the rules for these are fairly generous. That means customers who go solar at home can enjoy the benefits of free electricity from their rooftops and net a little extra cash each year if they produce more energy than they use year-round.