Discovering the best financial tips for solar in Livermore can be the key to making the transition to a green energy alternative
. Installing a solar system can seem like an expensive task, but talking to the right professionals, like the staff at Diablo Solar Services can give you the help you need to make the move with ease.
Financial Tips for Solar in Livermore
- Check out the federal tax credit available to homes that implement alternative energy systems. The amount of some of the Consumer Energy Efficiency credits have been reduced from previous years (with only a $500 per unit limit on fuel cells, for example), but Photovoltaic (PV) Solar-Electric systems still qualify for 30% tax credit on the complete cost of the system.
The tax credit for the Photovoltaic (PV) Solar-Electric can be used on primary and secondary residences, but is not valid for rental properties. Installation of solar systems in either new construction or existing homes can benefit from the tax credit offered by the Federal Government under the new guidelines for installations in 2011 (but only principal residences qualify for the tax credit for fuel cells). These current tax credits are set to expire in 2016.
- The California Solar Initiative (CSI) offers rebates to state residents that are customers of Pacific Gas and Electric (PG&E). These rebates are also known as the PG&E Rebate or the California Rebate. The goal of the program is to encourage more home owners and businesses to move to alternative energy sources. The CSI rebates are calculated one of two ways: either on an expected performance based incentive where the rebate is paid in advance (for systems 30 kw or smaller), or on a Performance Based Incentive where the rebate is paid over 5 years.
Making financial investments in your home can be a tough decision. You want to be sure that the investment will be matched by an increase in value. The rebates and tax credits are designed to help reduce the pressure of that initial investment and make alternative energy more enticing to the average home owner. Be sure to talk with your tax professional about any issues that may affect your taxes in the upcoming year.
There are a number of different ways that installing solar energy in your home can benefit your bottom line. The investment you make in the system will pay for itself hundreds of times over during the life of the system. Make the most of the credits, rebates and reimbursements and you will have discovered the top financial tips for solar in Livermore.