Benefits Available in California for Residential or Commercial Solar Panel Installation
Imagine YOU are ready to reap the benefits from installing a solar panel system. However, you aren’t really sure how to go about it and you are certain there must be laws and regulations; mostly in your favor.
If you live in California, be it Fresno, San Diego, Clovis, San Jose, Bakersfield or any other populated city (or even smaller ones having around 4000 people or more), you will want to be diverse on the exact steps to take before the installation process begins.
Find below a list of all the incentives, rebates, tax credits, loans, and savings installing solar panels can reap.
Below are a few steps on what you need to do to earn incentives.
• First, complete an energy efficiency audit. Make certain you take advantage of ways to save energy in either your business or your home.
• Second, you will need to find a proper company for installation. You will want to make sure they are registered with the Energy Commission’s Retailers/Installers List.
• Third, you will want to apply for rebates. Your registered solar panel installer will know how to handle the application. However, rebates are discussed in the next point and you will want full knowledge of the rebates apply to you.
• Fourth, it is time to install your system. Be sure you wait to install until you have revived your reservation confirmation letter.
• Fifth, after your solar panels are installed, you are now ready to submit the Incentive Claim Form.
• If you are a customer who has a commercial building and your electric company is San Diego Gas & Electric, and you have roof or ground space that receives unobstructed sunlight from the hours of 11:00 an until sunset, you may be eligible to qualify for cash rebates through the California Solar Initiative.
• If you have a municipal building, you may also qualify for rebates through their municipal service provider.
• However, as of now, all rebates for PG&E, SDG&E, and SCE are closed for residential customers as they have been exhausted.
• Purchasing solar panels makes you eligible for federal tax incentives. Depending on how much you paid for the system will yield how much you receive on the investment return.
• These include solar photovoltaic (PV) and solar hot water or solar thermal systems.
• You must have a federal tax liability to take advantage of the solar investment tax credit.
• The tax credit is available for both residential and commercial installations
• If you own property and are eligible, many cities allow a low-cost 20-year loan
• You might be eligible for solar loans (residential customers) and get a home-equity line of credit for up to $17,500.
• Plus, there are many leasing and financial options to relieve any upfront costs of installing panels.
• You can also rent a solar panel system
• Savings vary depending on how much you pay for your current electric bill, or natural gas. It also depends on how much your utility company will pay you for any excess power you will generate with your solar system.
• Average investment returns yielded 13.4% on a PV installation.
• Many Californians saved an average of $493.00 a year.
• If you offset 50% of your monthly energy consumption, you might net 60% or more off your monthly bill. Over the lifetime of the system, that could be a savings of $60,000.
Here are some tips to keep in mind before installing solar panels.
• Throughout the state, you can take classes so you can gain better knowledge about going solar.
• When you are ready to install your solar panels, you will need to first fill out an application.
Note: If your panels are less than 10kW, there are no application fees. If the kW is over 10 be sure to read up on the laws to see what fees apply to you.
With all the positives of solar panel installation, it really is the way to go. Arm yourself with knowledge before you install and save yourself plenty of money with all the incentives, rebates, tax credits, loans, and savings.