California Solar Rebates and Incentives
California Incentives and Rebates
One of the reasons California uses and develops more solar energy than any other state in the country is that there are numerous incentives and rebates available from various government agencies. When financing a solar generation system for your home, taking advantage of the various offers will help you cut your setup costs considerably. However, it’s important to keep in mind that increased demand for solar power makes the value of these incentives go down.
Federal and Local Rebates
Federal - Solar Investment Tax Credit (ITC)
One of the biggest money-savers that can come with installing your own solar generation system is a huge rebate from the federal government. The Solar Investment Tax Credit (ITC) is for 30 percent of your system’s value, which could add up to thousands of dollars. The Solar ITC is set to expire at the end of the 2016. You will likely be able to take advantage of the Solar ITC directly or indirectly. The owner of the system gets the credit, but in instances of financing through a solar lease or PPA the credit is likely passed on through in the form of a lower rate.
California - Local Rebates
The state of California itself will also give you a break on your property taxes when you install a solar power system. The city and county rebates vary widely are dependent on your utility provider. We recommend that you contact your utlity provider directly to find out if you qualify.
While a solar panel system can drastically increase the value of your home, the state won’t count that added worth when calculating your property taxes.
Checking to find out what types of incentives you qualify for will make solar power even more affordable, but you won’t get the best deals unless you act soon. Find out more about how to save on your electric bill.
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With no end in sight for soaring electricity rates, your switch to solar will secure affordable power for your home and family for years to come.