California has some of the most progressive solar energy policies in the world. Not only is it leading the way in terms of adding new solar power projects, but it’s also rewarding people for installing solar energy systems on their properties. This blog post will give you all the information you need to know about solar energy credits in California, including how to get started and earn the most from your investment.
If you’re looking to invest in solar power, you’re in the right place. Thanks to the success of Tesla and SolarCity, both of which are based in California, numerous other companies have also hopped on the solar train. There are currently about a million solar-related jobs in the state, and the industry continues to grow. This growth is supported by a series of government incentives designed to promote residential solar power.
Incentives For Residential Solar Power
The most well-known of the residential solar power incentives are the Solar Investment Tax Credits (.SITC) and the Renewable Energy Credits (.SRECs). The first of these is available for projects that generate up to 10 kilowatts of power, and the second is available for larger projects that generate up to 100 kilowatts of power. Both the SITC and SREC are available for residential projects, and there are several associated credit-reducing requirements.
There are also a number of loan programs that are specifically designed to help with residential solar power. These loans have terms of up to 20 years and are fully-guaranteed by the federal government. If you’re looking for a safe and secure investment option with excellent returns, you may want to consider putting your money into a residential solar power project.
Government-Mandated Energy Efficiency
Not only does California have some of the most progressive solar energy policies in the world, but it also has some of the most energy-efficient laws. As part of its effort to combat climate change, the state has implemented a number of energy-saving requirements, including the 2016 mandatory energy efficiency standards for commercial buildings.
While these new energy efficiency standards won’t directly help with your solar power project, they will help to reduce your energy bills. By substantially decreasing your power needs, you’ll also be helping to reduce the state’s dependence on fossil fuels and increasing its renewable energy capacity. This, in turn, will help to further reduce your energy bills.
Other Government Incentives For Solar Power
While the previous two sections focused on residential projects, there are also a number of other benefits to be had from the California government. To begin with, all homeowners and lessees in California are guaranteed energy savings equal to 20% of their annual electric bill. Second, commercial property owners and lessees in California can receive tax credits for purchasing and installing energy-efficient lighting and equipment.
In addition to these two major credits, the state also offers substantial rebates for a variety of industries, including roofing contractors, insulation manufacturers, and large commercial users. All you need to do is contact the California Energy Commission, the California Public Utilities Commission, or the local power supplier for more information.
The Bottom Line
If you’re looking for a state where you can easily invest in solar power, consider moving to California. Not only do you have all the necessary government incentives, but you’ll also be able to reap the benefits of a new solar power industry that is gradually taking over the state.