There are a variety of financial offerings that can make installing renewable energy more affordable. Below is a summary of incentives and other financial options that may be available to you:
The Federal Investment Tax Credit provides a credit of 30% of the net cost of the system installed and applies to a variety renewable energy options. Please consult a tax professional for more information before making any purchasing decisions.
A limited number of cities and counties offer rebates to help further offset the cost of installing solar photovoltaic systems on their home or business
Leasing allows customers interested in installing solar to rent a system from a company while benefitting from the energy produced. This options may help you eliminate the high up-front costs as there may be little to no money down required.
Similarly, under a Power Purchase Agreement (PPA) model, a third party owns and maintains the system and sells the power produced to the customer at a pre-determined annual price.
The PACE programs enable local governments to finance renewable energy and energy efficiency projects on privately owned properties through an additional assessment repaid in fixed payments as part of the property owner’s property tax bill.
Financing can potentially be obtained from your financial institution or a commercial lender in the form of green loans, home equity loans, personal loans and other loan products. Many solar contractors also have existing partnerships with their preferred lenders.
For more information on these and other financial incentives for renewable energy, visit the Database of State Incentives for Renewables and Efficiency (DSIRE).
The CSI program provides a financial incentive for the installation of solar photovoltaic panels on a home or business. In order to qualify for an incentive, you must have an electric account.
The MASH program provides higher incentives to offset the costs of installing solar on multi-family affordable housing buildings in California such as apartment buildings. In order to qualify, electric service must be provided to the building.
New Solar Housing Partnership (NSHP)
The NSHP program provides incentives for the construction of new, energy efficient homes that install solar. In order to qualify for a rebate, the home with the solar panels will have to receive electric services. (Existing homes should apply under the CSI program.)
Single-Family Affordable Solar Housing Program (SASH)
The SASH program provides higher incentives to offset the costs of installing solar on low-income single family homes in California. GRID Alternatives is the Program Administrator. For more information on this program, please visit their website.
California Solar Initiative Thermal Program
The CSI Thermal program offers incentives to customers who install solar water heating systems on their homes or businesses. In order to qualify for an incentive, your water heating service (gas or electric) must come from PG&E. Community Choice Aggregation customers are eligible.
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Self Generation Incentive Program (SGIP)
The SGIP program provides financial incentives for the installation of qualifying systems. In order to qualify for an incentive, you must have a PG&E electric or gas account. While residential customers are not excluded from the program, the minimum system size is 30 kilowatt (kW).