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California and the federal government offer homeowners incentives to adopt residential solar panels and/or home solar batteries. California is the #1 state in the US for solar and offers some of the best solar incentives. As a local San Francisco Bay Area company, we understand our state’s solar incentive programs and are ready to help guide you.
Federal Solar Incentives
The Solar Investment Tax Credit (ITC)
The solar Investment Tax Credit (ITC) is the most lucrative federal solar tax credit incentive program available for homeowners. To be eligible for the ITC, the homeowner must own the residential solar panel and/or battery storage system and have been granted permission to operate it by their utility company.
Through 2022, the ITC will cover 26% of the total cost of your solar power system including batteries. However, the ITC will drop to 22% in 2023 and is set to expire for homeowners in 2024. The ITC might be extended, but it was not intended to last indefinitely. You should start your solar project as soon as possible to qualify for the highest possible savings. The ITC must be applied to the tax year in which the solar system was placed in service. Any remaining ITC can be applied to subsequent tax years as long as tax is owed by the system owner in each of those years.
California Solar Incentives
Solar Energy System Property Tax Exemption
Under Section 73 of the California tax and revenue code, your home or residential property taxes will not increase if you install a new solar energy system by Dec 31, 2024. The value of the solar energy system is exempt and will not trigger a tax reassessment.
Self-Generation Incentive Program (SGIP)
SGIP offers financial incentives to homeowners who install new clean energy technologies that meet some or all of their family’s electricity needs such as a home solar battery. Customers of the following utilities are eligible: PG&E, SCE, SoCalGas, and SDG&E. The SGIP program was created to help reduce greenhouse gas emissions and create a more reliable electric grid in California.
SGIP rebates for homeowners are dispersed in a strict step system that requires early application and a comprehensive monitoring program. Sun Light & Power can tell you whether your solar battery storage system qualifies for a particular phase of the SGIP program and whether funds are available, exhausted, or expected to be refreshed.
Do You Qualify for Federal and California Solar Panel Incentives?
Do you have questions about solar panel incentives in California? Call Sun Light & Power for answers today. We’re here to help make your solar journey as smooth as possible.
Sun Light & Power is a 100% employee-owned B Corp, committed to being a force for good in our community. Our goal is to help California homeowners achieve their dream of going solar and ensure they have an exceptional customer experience.
Why Go Solar?
When it comes to combining solar energy with your business operation, think of solar as an investment that actually provides a return. A custom designed solar PV system or solar thermal hot water heating system will reduce your operating expenses, protect you from volatile utility costs, show your commitment to the environment and the green business movement, and can even increase the reliability of your electrical system.