30% Federal Solar Subsidies & Renewable Tax Credit
The Residential Energy Efficient Property Credit tax credit helps individual taxpayers pay for qualified residential alternative energy equipment, such as solar hot water heaters, solar electricity equipment and wind turbines. The credit, which runs through 2016, is 30 percent of the cost of qualified property. There is no cap on the amount of credit available, except for fuel cell property. Generally, you may include labor costs when figuring the credit and you can carry forward any unused portions of this credit. Qualifying equipment must have been installed on or in connection with your home located in the United States; fuel cell property qualifies only when installed on or in connection with your main home located in the United States.
California Solar Initiative Rebates
California Solar Initiative rebates vary according to utility territory, system size, and customer class, and performance and installation factors. The rebates automatically decline in “steps” based on the volume of solar megawatts (MWs) with confirmed project reservations within each utility service territory. To find the currently applicable rebate level in your area, check the CSI Statewide Trigger Tracker, which tracks the currently available MWs at each step level per utility and per customer class.
The GoSolarSF Incentive
The GoSolarSF incentive was established to help low-income families afford a solar energy improvement investment for their home. This program is income based and everyone that lives in the boundaries of the city qualify for an incentive regardless of their income.
We here at All Bay Solar are city certified installers for this program which optimizes the incentive for residents and business.