You may have heard that going solar isn’t just a good idea because of the energy savings, but the incentives as well. There are varying incentives across states, a federal solar tax credit, net metering savings, solar feed-in tariffs, SREC’s and RPS, and many other money-saving options that make installing a solar panel system on your home extremely profitable and affordable. So what options apply to you?
Figuring out what incentives you are eligible for is an important step when it comes to going solar. Take a look at a few of the options below.
The Federal Tax Credit
While this credit was facing potential extinction, the 26% federal tax credit has now been extended through 2023. This credit allows taxpayers to claim a credit for 26% of qualified expenditure for their home solar system. This includes costs for labor, on-site prep (such as roof updates), assembly / installation, and additional services.
Living in California has its advantages – especially when it comes to solar panel systems. Did you know that California is ranked #2 in the nation for homeowner savings from installing solar panels on homes? As one of the prime locations to add solar panels, Californians can maximize their savings thanks to great sun exposure, high utility electricity rates, and established net metering policies.
In California, the average lifetime savings for homeowners who go solar is $34,483 after repayments. Thanks to The California Public Utility Commission passing an extension of net metering laws, homeowners who produce an excess amount of solar power that feeds back into the grid are credited for future needs.
Incentives Offered by San Diego Solar Companies
Many local companies offer even more incentives for homeowners to take advantage of. This means that when you are calculating the cost of going solar, you should always check out your potential savings through incentives, tax credits, and net metering to get a better idea of the true cost of going solar. You might be surprised how much you can cut back on the cost before you even begin to save on your electricity utility spending.
For example, Semper Solaris offers additional savings to customers, such as a $500 online coupon, a discount for veterans and first responders, $0 down and zero payments until 2019, and up to $2,000 off a new roof. Going with the right solar company in San Diego is just as important as the process of going solar itself!