Although the boom of federal rebates for solar power is long since over, California still leads the way in providing attractive incentives for homeowners who want to take advantage of abundant sunlight and cut their energy costs and their carbon footprint in the process. If you’re interested in a solar installation, you should know that there are several incentives to consider. Which solar rebates are you eligible for and what can you gain by utilizing them? Keep reading as what you need to know is all below.
Net Energy Metering in California
Net energy metering is a perk available to homeowners who choose to go solar. Net Energy Metering allows California homeowners to gain credits for excess solar power they produce and sell that power back to their utility company. In other words your utility provider act as a so-called battery, for when your solar system generates more power than you use during peak hours of the day. At peak hours of the day, your utility provider will buy your power at a higher rate and sell that power back to you at a lower rate in the evening. Giving you the power to buy low and sell high!
California Solar Initiative
Many homeowners agree this is, by far, the most attractive of the solar rebates offered insomuch as it is simple, straightforward, and beneficial to eligible homeowners. In addition, the benefits amount to cash back on what you paid for installing solar panels on your single-family or multi-family affordable housing unit.
What’s the catch? One catch is that homeowners must qualify for income-eligibility standards in order to apply. They must also be customers of specific energy providers, including Pacific Gas and Electric (PG&E), Southern California Edison (SCE), or San Diego Gas and Electric (SDG&E). Still, for those that qualify, this is potentially the best incentive for solar installation in California.
Local Solar Rebates
Different areas of California offer a variety of local solar rebates to entice homeowners to follow through with installing clean, green energy systems. Residents of Los Angeles; for example, can enjoy a rebate up to $0.25 per watt of installed solar power, provided they are customers of the Los Angeles Department of Water and Power (LADWP). Therefore, as more people participate, the value of this incentive will decrease.
The city of Rancho Mirage is also keen to encourage residents to install solar power, which is why they offer a $500 rebate to cover the expense of the permit fee for installation (to be given out once the utility company has offered permission to operate). Additionally, it’s always a good idea to check with your municipality or local power provider to find out if any local rebates exist that you can take advantage of.
Financing for A Solar Installation
Several cities and counties across the state of California participate in the Home Energy Renovation Opportunity (HERO) program by offering Property Assessed Clean Energy (PACE) financing to help homeowners install their solar system and begin reaping the benefits. If PACE financing isn’t available in your area, you may find similar incentives like the Energy Independence Program available in Sonoma County.
Federal Investment Tax Credit
Even though federal funding for solar installations is scarce these days, you can still take advantage of a stacked Federal Investment Tax Credit, extended through 2021. This tax credit provides a 30% discount on top of any state rebates and incentives you qualify for.
So, if you’re looking into going solar and want to take advantage of California’s different solar incentives look no futher! The options are out there, but they are diminishing quickly. Get quotes from California’s best solar installers today!