California Solar Power Incentives to Finance Your Installation
Going solar has never been more affordable than it is today. And if you live in Southern California, you can take advantage of several federal, state, and utility solar power incentives to reduce the cost of your installation by as much as 45%. This is free money that the government and utility companies are prepared to donate towards your installation. But these solar incentives won’t be around forever. ACT NOW before this free money disappears.
Available Solar Power Incentives in the Los Angeles Area
Below is a partial list of some of the more popular solar incentive programs that exist within Southern California. Whether you’re a homeowner or a business manager, it’s possible to combine many of these incentives together for optimal savings. At SavOn Solar, we help you with all of the necessary paperwork.
1.The Federal Tax Credit
Thanks to the 2009 Solar Stimulus Bill, homeowners qualify for a 30% federal tax credit that they can apply towards their systems. And the best part is, there’s No Price Cap under this program. In other words, it doesn’t matter whether your solar panels cost $5,000 or $50,000 – the federal government will cover up to 30% of your total installation costs.
2.The California Net Energy Metering Program
Under California’s net energy metering program, solar PV system owners are allowed to sell excess clean electricity to the utility company at market rates. At the end of each billing cycle, you’re only responsible for the “net” difference in energy bought and sold. This means that it’s possible to receive negative electricity bills from your local utility company (in the form of credits). Imagine the peace of mind you’d enjoy from this role reversal. To learn more about this highly popular solar energy incentive, click here.
3. California Solar Rebates
Under the California Solar Rebate, solar PV system owners receive free cash for installing panels on their properties. The exact amount of each rebate depends on the size and power-generation of the system. However, funding under this program is limited due to overwhelming demand. In other words, this free lunch won’t be around forever. But if you ACT NOW, you may be able to take advantage of this lucrative solar power incentive.
4. Increased Property Value
Technically speaking, the following isn’t a direct incentive. But it’s a powerful financial benefit that many California solar installers overlook. Adding panels can dramatically increase the property value of your home or business – provided that you own (instead of lease) the system. According to Berkeley Lab, for every $1 in annual electricity bill savings that your panels generate, the value of your property rises an average of $20. But don’t home improvements also increase property taxes? Read the next point.
5. The California Solar Tax Exemption
In California, solar-related home improvements do not increase property taxes. The state exempts solar projects in order to encourage renewable energy adoption and environmental responsibility.
Act Now Before These Solar Energy Incentives Expire Forever
The above represents just the tip of the iceberg. There exist countless other ways to reduce the cost of your solar installation – and increase your monthly electricity bill savings. But as with all “free” things, nothing lasts forever. As solar continues to go mainstream in California, many of these grants, tax credits, and rebates will disappear. And you’ll have to pay full price for your installation. Act now while these solar energy incentives are still going strong. At SavOn Solar, we’ll help you with all applications to ensure you pay as little as possible for your solar PV installation. Schedule an appointment with one of our advisors today. All consultations are free of charge. Just click here to get started.