If you're thinking about installing solar panels on your home, 2024 is the perfect time to do it.
The solar industry has grown substantially each year for over 2 decades now. As more people understand the importance of solar energy and as solar prices continue dropping, we're seeing record numbers of installations happening.
California is one of the states leading the solar energy charge. This is due to a variety of factors, including the state's climate and its many solar incentives. Today, we're going to look at some of the best California solar incentives for 2024.
If the cost of solar panel installation is causing you to hesitate, keep reading and let the top solar installer in El Cajon explain some of the benefits.
The environmental benefits of solar energy are well-documented, but our main purpose here is to talk about financial benefits. One of the things that makes solar power so fiscally beneficial is that you don't have to pay electricity bills each month.
That's right - as long as you install enough solar panels and battery storage to cover your energy usage, you'll never have electricity bills again. A lot of solar panel systems generate more power than is needed, which homeowners can then sell back to utility companies for profit.
Combine this with the solar incentives that we'll discuss next and you'll see that you can actually make money by installing panels.
The biggest solar incentive that every solar panel owner is eligible for is the federal investment tax credit (ITC). This incentive gives homeowners 30% of the cost of their solar panels back in the form of a tax credit.
So, if your solar panels are $20,000, you can claim $6,000 on your federal taxes. These claims are exclusively for solar panels installed between 2022 and 2032. In 2033, the ITC will go down to 26%, then 22% by 2034, so the time is now to have your panels installed.
On top of the federal ITC, there are incentives exclusively for certain Californians who decide to go solar. In particular, these incentives target low-income households, offering them a way to get free solar installation.
This program is called the DAC-SASH rebate program. It's implemented by the California Public Utilities Commission and has very specific qualifications that you can read about.
There are a few different one-time rebate programs, such as the Self-Generation Incentive Program and Equity Resilience Incentives. Most Californians will also be eligible for the Solar Energy Property Tax Exclusion. This halts any increase to your property taxes after you install solar panels.
As you can see, there are a variety of solar incentives in California in addition to the federal ITC. When you combine these with the savings you'll see every month, you can break even on your solar panel installation in no time at all.
If you want to know more about the various California solar incentives for 2024, it helps to hire a great solar installer. Semper Solaris has been one of the most trustworthy and reliable voices in California solar installation. Contact us today to learn which incentives you qualify for and how to maximize solar energy in your home.
