California is a titan in the solar energy industry. According to California Solar Statistics, the state leads the country with more than 247,006 solar projects, 2,402 megawatts installed at an average cost of $4.71 per watt (>10kW). There are a number of reasons why California leads the nation. With more than 300 days of sunshine, the state receives more than enough sunlight to generate solar power to fulfill the needs of residential and commercial establishments. Strong leadership coupled with residential solar rebates, incentives, and tax rebates, has made it easy to install solar power systems in the state.
An integral part of the Million Solar Roofs Program initiated by Governor Arnold Schwarzenegger, the California Solar Initiative (CSI) is the state rebate for going solar. Under this program, the state of California hopes to create 3,000 megawatts of solar powered electricity by the year 2016. Managed by the California Public Utilities Commission (CPUC) and the California Energy Commission (CEC), CSI is a decade-long $400 million initiative that encourages new residential solar power system installations. Due to this and other governmental initiatives the $ per watt cost of residential self-owned solar power systems in California has reduced from $8.14 per watt in 2007 to $4.71 per watt in 2014.
Depending on your utility company, there are a number of solar incentives that you can apply for and get. These include incentives for going solar offered by investor-owned utilities (IOUs) such as Pacific Gas & Electric, Southern California Edison (SCE), etc., electric service providers, publicly owned load-serving entities, and rural electric cooperatives.
In 2008, solar tax credits were included under the Emergency Economic Stabilization Act. This legislation extended the solar investment tax credit also known as ITC till December 31, 2016. Before 2009, tax credits for residential solar installations were capped at $2,000 per project. However, under ITC post-2009, residential solar power system owners can file for tax credits capped at 30 percent of the total cost of the solar system installation.
Depending on your residential location and the type of solar system panels you choose to install chances are that you may even be able get your residential solar power system installed for free after state and federal government tax credits, incentives, and rebates. Get your estimates for your residential solar power system today. Get started with free estimates from our licensed solar panel companies right now!