In Southern California, Rancho San Diego is known for it’s sunny, comfortable climate and overall year-round good weather. It’s one of those places that is just made for taking advantage of solar energy.
While it’s never “too late” to install solar panels in Rancho San Diego in our books, there are some things that are a little time sensitive to keep in mind. For instance, if you are looking to maximize your savings on a solar panel system, there are some incentives, credits and rebates that will be expiring soon or in the near future. That’s why we recommend jumping on the solar bandwagon sooner than later!
Don’t Miss Out On Major Savings
You can always save when switching to solar — especially with the rising popularity and development of solar technology driving the cost for production down — but why not save even more by taking advantage of incentives as well?
Here are some of the timelines to be aware of:
That Beloved Tax Credit Expires Soon
When you’ve heard about the savings you can get on a residential solar system, you’ve probably heard the Investment Tax Credit (ITC) mentioned – or also referred to as the federal solar tax credit. This tax credit allows you to deduct 30% of the total cost of installing your home solar panel system from your federal taxes. While this credit tax credit was initially put in place by the Energy Policy Act of 2005 and set to expire after just two years, it was later extended time and time again to allow more homeowners to take advantage of solar savings.
Unfortunately, the clock is now ticking on the ITC, with the credit set to drop incrementally over the next few years before being phased out completely. For example, through 2019, homeowners can still claim the 30% credit as long as construction has begun on their system (and it’s operational by 2023). By 2020, it will drop to 26% and 22% by 2021. After 2021, there will no longer be a federal tax credit available for residential solar system owners.
Rising Electricity Costs Aren’t Slowing Down
Over the last decade, electricity costs have spiked nearly an average of 9% across the country, with some areas facing even higher increases. The sooner you install a solar panel system that covers your household needs, the sooner you are free from volatile electricity prices, putting major savings back in your wallet (around $1,200 per year for the average home). Solar installation is more affordable than ever, especially with numerous financing options available to homeowners. This makes energy independence from the grid all the more attractive in the face of rising electricity costs.
Solar Incentive Programs Continue to Be Phased Out
We love the growing demand for solar. Obviously, there is good reason more and more homeowners want to take back control of their electricity usage and become more self-sufficient with a solar panel system that can save them big over the years. Unfortunately, this also drives down the “need” for other incentive programs and rebates that are used to encourage homeowners to get on board with the solar movement. For example, California alone used to offer up to $15,000 in rebates and other programs for eligible homeowners, most of which are no longer available. That’s why it’s important to take advantage of any local programs and rebate options sooner than later. Again, you can still save with solar, but who doesn’t love to save a little more?
Want to Find Out More About Your Solar Options?
Whether you’ve done hours of research or are just getting the ball rolling on the whole solar thing, we are here to help. As one the top Ranch San Diego solar contractors, Semper Solaris is proud to serve customers throughout the region. We’ve installed thousands of solar panels on homes in Southern California and are ready to work on your residential solar project.
When you enlist our team, you can be confident we will do everything in our power to not only maximize your solar savings, but provide stellar service and unbeatable workmanship. Living by our military roots and values, we always put the customer first, providing loyalty, great integrity, and work ethic in everything we do.
Go solar with Semper Solaris — contact us now to find out more about your options.