Solar Investment Tax Credit & Grants
Utility providers are switching to net energy metering and increasing the rates for their customers at an average of 10% per year.
The huge technological leaps in recent years paired with the fact that Solar has become insanely affordable is all the more reason to make the switch to solar. But don't let the buck stop there. There are more savings on the table.
The federal government has implemented a rebate program for individuals and businesses installing solar systems. As seen on the graph below, rates currently sit at 26% for individuals and businesses, followed by 22% in 2023, and then completely gone for residential in 2022, while remaining 10% indefinitely for commercial systems. In other words, you can get $260 back in a credit for every $1000 you spend on all costs associated with solar. This means you can bundle in that new roof, patio, or carport you've been wanting, all with that added discount.
And for those of you that have suffered from extreme bill changes due to your utility providers newer time-of-use program, there is relief to be found. California has a rebate in place for those who are willing to install an energy storage system. This SGIP grant could potentially cover the entirety the the energy storage portion of your installation, plus receive an additional 26% off due to the ability to combine with the Federal Tax Credit!