California Homeowners Should Take Advantage Of New Solar Programs

If you live in California, then congratulations: You live in the one of the best states for home solar in the country! The huge growth of home solar in California is led by generous rebates, tax exemptions, and net metering policies, on top of national incentives and tax credits that were recently extended. In addition, California homeowners pay one of the highest energy rates in the nation for electricity through their utility, so homeowners who switch to clean, environmentally-friendly solar power can save even more.

To make sure homeowners can continue to benefit, California recently put new programs in place that make now a great time to go solar. The Clean Energy and Pollution Reduction Act of 2015 states that by 2030, 50% of all electricity produced in the state must come from renewable energy.

“Clean tech companies in California are creating more jobs and investing more money than competitors in any other state, and these policies will keep this momentum going and expand its reach.”

Any utility that doesn’t produce 50% of its electricity from renewable energy will have to pay huge fines and fees, so to meet those ambitious goals, California utilities are incentivized to help homeowners go solar. This has driven a huge increase in solar power in the state, and will continue to drive demand for the foreseeable future, as homeowners look to take advantage of favorable conditions and huge savings.

Generous Solar Power Rebates

California has some of the best solar rebates in the country. The California Solar Initiative (“CSI”) was created to encourage the adoption of solar power, and has a goal of 3,000 megawatts of new solar by 2017. Some utilizes have already met their goal, but others are still offering generous rebates, so it’s important to move quickly to see if those rebates are still available in your area.

Property Tax Exemptions

According to a study by the Lawrence Berkeley National Laboratory, buyers are willing to pay a premium of $15,000 for a home with an average-size solar power system (3.6 kilowatts, or 3,600 watts). However, in California the premium for solar is $1.10/watt higher than in any other state, resulting in an additional home value increase of $3,960.

Normally an increase in home value would also increase property taxes, but thanks to a generous property tax exemption (which has been in place since 1999) you won’t pay any additional property taxes in California for your new solar power system.

Strong Net Metering Policies

California has an easy to understand, and easy to use, net metering policy that helps save homeowners even more money. With net metering, solar customers who produce more energy than they use can sell that extra energy back to the grid. California recently extended that policy with what many are calling Net Metering 2.0, ensuring that you can sell your extra energy at retail rates, which means more money in your pocket. In fact, California estimates that net metering will provide more than $1.6 billion in annual benefits to homeowners!

National Solar Tax Credits

In addition to state solar programs available in California, a little known national program called the Residential Renewable Energy Tax Credit helps homeowners install solar for shockingly low cost, and reduces their electricity payments by hundreds of dollars per year.

President Obama recently signed the Omnibus Spending Bill into law, extending the solar tax credit deadline. With the extension, homeowners who go solar now can save up to 30% on their installation!

Do You Qualify For Affordable Home Solar?

HomeSolarPrograms.com helps homeowners like you obtain more information about the solar programs and incentives that are available in California. It just takes a quick consultation with a solar specialist to find out if your home is a good candidate for solar, and there are no fees or obligations, so you have nothing to lose except your energy bill – while the incentives last.