If you’ve been hearing about the financial benefits of solar and wondering if it could benefit you, this information should help.
A solar system installed on your property can reduce or eliminate your SDG&E bill. Solar energy panels can benefit consumers regardless how small or large their bill may be. Instead of paying SDG&E, you are paying for your own solar powered electric plant which can provide a return on your investment in 4-9 years.
They say that in life, timing is everything, and that is certainly true in regards to solar. Right now the following incentives are being offered:
Tax Credit - The Federal Government provides a 30% Solar Investment Tax Credit. Not just a tax deduction but a tax credit and there is no cap on the amount.
Rebates - The California Solar initiative is offering rebates. The current residential rebate can help reduce the net cost of a solar system by as much as 20%. Rebates for commercial, new construction, non-profits, and other entities are even higher. But these rebates are on a tier system, meaning that as the money being allocated for the rebate program is used on a first come, first serve basis, at some point the percentage being offered will drop. So if you’re thinking about going solar, putting it off may cost you money in the form of a lower rebate.
Financing - The City and County of San Diego are rolling out programs which provide financing. The financing covers the cost of installing a system and can be repaid over 20 years. We now offer GE Financing. Please ask your solar consultant for details.
Example of One Client’s Monthly Savings
Monthly electric bill prior to solar
Monthly electric bill after installation
Monthly savings
$275.00
$ 31.00
$244.00
Net Energy Metering
When your solar system produces more energy than your home uses, your utility will provide you a credit. At night, when your solar system is not producing, your credited electricity will be used before you are charged for any from the grid.
The Benefits of Installing a Solar System
- Significantly reduces your monthly electricity bill
- Significantly increases the resale value of your property
- Protects you from the rising cost of fossil fuels
- You can receive credit from your local utility for excess power your system produces
- You can receive a 30% Solar Investment Tax Credit from the Federal Government
- CA. Solar Initiative offers rebates reducing net installation costs by approximately 20%
- The City and County of San Diego are rolling out programs that pay all costs upfront to be repaid over 20 years.
Environmental Responsibility
Each year, a two kilowatt solar roof positively impacts the environment in the following ways:
- Prevents 3600 lbs. of coal from being mined.
- Prevents 7200 lbs. of CO2 from entering the atmosphere
- Prevents 2520 gallons of water from being consumed
- Prevents NO (nitrogen monoxide) and SO2 (sulfur dioxide ) from being released into the environment
- Contributes to a cleaner atmosphere.
- Adds to energy independence
How Solar Works
- The sun´s rays hit the solar panels causing a photo-chemical reaction.
- The photo-chemical reaction creates Direct Current Electricity (DC).
- The DC electricity flows to an inverter that converts it to Alternating Current (AC) for household use.
- AC electricity not used in your home is fed into the grid.
- System performance can be monitored on your inverter or over the internet.
Solar Systems Increase Your Home’s Appraisal Value
"The increase in value is often as much or more than the systems initial net cost. …A solar electric system increases home value by $20,000 for each $1,000 in annual reduced operating costs, according to the Appraisal Institute. ... That is to say, if a solar system can reduce the electric bill by $1,000 per year, the home is worth about $20,000 more in increased appraisable value.”
(Many systems save their homeowners much more than that per year, doubling or tripling the added value mentioned here.)
“A solar electric system compares very favorably with other home improvements in percentage of cost recovered. Often, a solar system can recover much more than 100% of its cost and this percentage actually increases over time as electric rates rise."
Andrew J. Black,
Member of the American Solar Energy Society
Why Is A Solar Electric Home Worth More?
