Rebates and Incentives to help you go Solar

There are many ways to finance and reduce the cost of solar. The type of installation really determines what type of incentives and the return on investment that can be expected from the solar power system. ROI - return on investment means the time it takes for the solar power system to pay for itself, and then make money! In general, there are several types of rebates and incentives to help property owners go solar: -on the Federal level - Uncle Sam has what is called a Federal Incentive Tax Credit - this means you get back a tax credit for your solar power system. It used to be capped at $2000 for residential systems. In other words, if you paid $50,000 for a solar panel system on your home, Uncle Sam would only give you a tax credit of $2000. Now, the tax credit is unlimited and equal to 30% of the cost of the system - a big difference. The Federal ITC is also available for commercial installations. Right now the Stimulus bill moved the tax credit for commercial installations to a tax grant, which means a check back from Uncle Sam. The percentage is the same, 30%. So it is a really powerful incentive for businesses to go solar! -on a state level in California we have the California Solar Initiative, or CSI, that helps homeowners and businesses to go solar. This rebate is processed through your local utility company. In the case of Southern California Edison, SCE, where electricty rates are some of the highest in the country, you can also save up to 49% on a residential solar power system with the combined CSI and Federal ITC incentives. -some cities also have rebates and special programs in place. Areas like Santa Monica have group solar buying programs that help residents get great deals by going solar together. HelioPower is involved in the group solar buying program through 1BOG in San Diego. A qualified solar installation firm will help a property owner figure out all the rebates and incentives that can help them go solar at the lowest cost possible. A personalized proposal process should include reviewing a year's worth of electrical bills, discussion of any upcoming changes in electrical usage and how much of the electricity bill the property owner wants to offset with solar. The proposal should then calculate how much solar can fit on the roof and the rebates and incentives available to reduce the out of pocket cost.