Tuesday, February 23rd, 2010 11:27 am
Residential and commercial solar systems currently enjoy state and federal incentives that cover approximately 43% of the total system cost. While federal incentives are expected to be in place at the same level until 2016, the state incentives come down as more systems are installed on homes and businesses. In San Diego County, we moved into step 6 of the state incentive ($1.10/Watt) in October of 2009, and we expect to move into step 7 of the state incentive ($0.65/Watt) sometime in April of 2010. This means that on average, the state incentive will be reduced from 18% to 11% of the total system cost. In 2007, when the state rebate program started, incentives were $2.50/Watt. So don't wait any longer. If you do, you will still save money on electricity bills, but you will miss out on attractive rebates.Example of 3kW Residential System (Before April 2010)
Total System Cost $18,000
State Rebate $3,300
Federal Tax Credit $4,410
Net Cost $10,290
Example of 3kW Residential System (After April 2010)
Total System Cost $18,000
State Rebate $1,950
Federal Tax Credit $4,815
Net Cost $11,235
Contact us for a free energy assessment at 800-411-SOLAR or info@SolareEnergy.com
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