The need for renewable energy has increased drastically in recent years, and several advantages to switching to solar has encouraged 1.5 million rooftop solar systems now installed across the state of California. However, the most cited downside to switching to solar energy is the upfront costs of solar panel installation. Luckily, there are many programs for California residents that can make solar energy more affordable and accessible.
The quick and informative guide below will help direct you to several options as both a Southern California and Coachella Valley resident you may qualify for to help finance your solar energy system—saving you both money on solar installation costs, and then long term with lower monthly bills as you reap the benefits of solar energy.
Start saving by switching to solar energy! Contact Stada Energy today to learn how.
1. The Federal Solar Tax Credit
As of 2023, you can receive federal tax credits of 30% of your total installation costs, with no limit. If you owe less in federal taxes than the value of your tax credit, it will rollover for up to five years. The Department of Energy has released a comprehensive Homeowner’s Guide to The Federal Tax Credit that details exactly what the tax credit is, eligibility qualifications, and how to claim the federal solar tax credit when you file your next tax return.
2. California DAC-SASH
The Disadvantaged Communities—Single Family Solar Homes program is currently valid until 2030, and will cover a one-time, 100% rebate of your total solar system costs. There are some criteria to meet, including location and income guidelines. See if you qualify here.
3. Self-Generation Incentive Program (SGIP)
The California Public Utilities Commission offers a one-time rebate for installing energy storage systems. Like other programs, eligibility is depending on location, as well as your current utility company’s incentive block, which you can check in the official SGIP Handbook located on the program website.
4. Equity Resilience Incentives
Through the SGIP program, the Equity Resilience Incentive is a one-time rebate for the full cost of a solar system is available for residents of low-income households, those who live in high-risk fire areas, and other high risk energy areas. This $612 Million dollar fund was granted following the 2018 Campfire wildfire destruction and aims to add battery backup power for homeowners in these areas. The maximum rebate amount is $26,400 for two Powerwall batteries; note that once the designated funds have been allocated to rebate applicants, the program may close. Don’t hesitate – learn if you qualify here.
5. Solar System Property Tax Exclusion
California has extended this tax exclusion program. If you install residential solar panels, your property taxes will not increase until the end of next year with the sunset date currently slated for January 1, 2025.
Coachella Valley Specific Programs
If you live in Rancho Mirage, the Rancho Mirage Energy Authority (REMA) offers a $500 rebate to cover permit costs for your installation. REMA also offers a generous Net Metering Program as well as lower residential rates – learn more about the advantages of being a resident of Rancho Mirage on the REMA website to ensure you are taking advantage.
Your Affordable Solar Energy Solutions with Stada Energy
At Stada Energy, it is important to us that you are able to take advantage of the many incentives to finance your solar energy system. We are happy to help direct you to opportunities to assist solar installation costs, while offering our expert advice along the way.
Have more questions about switching to solar? Contact us today to ask questions, or to schedule your installation!
