Going solar Los Angeles might be more affordable for new homeowners than you imagined. That’s thanks to the abundant sunshine and multiple financial incentives to choose from. How much you save on your energy bills depends on numerous factors, for instance, how much electricity you use, the size of your photovoltaic (PV) system, and the eligible solar incentives in your region.
Below we discuss how solar incentives can help new homeowners in Los Angeles save money.
- Local solar rebates
This is one of the outstanding rebate programs in LA that all new homeowners can benefit from. Homeowners in LA have every reason to go solar, considering that with these rebate programs, you get to pay $300 total or $0.95 per watt on all new capacity installations.
By taking advantage of these rebates, you can save a significant amount of money since they work as a stand-in for all your permits fee.
- Net metering
This incentive could not have come at a better time for Los Angeles residents! Net metering is undoubtedly one of the most convincing reasons to go solar in LA. As a new owner in Los Angeles, it’s requisite to enroll for net metering as soon as you have had a solar installation. All homeowners using this utility receive bill credits for all the extra power they generate, giving you a soft kickback for your pocket.
- Solar energy property tax exclusion
Any new homeowners who install solar power-producing devices to their residential property or their business property are privileged to receive tax exemption for the amount value contributed by the device to their property.
This incentive comes as a win-win for new homeowners as solar installation will increase your property value while still not paying for the property tax.
- General Market California Solar Initiative
This Initiative has been programmed to offer incentives for existing and new homeowners in utility territories mapped in the three southern California states.
The rebate is established on the general attested performance of the installed solar system in dollars per Watts. The good thing is that this rebate is financed before complete installation and proven interconnection.
- Multi-Family Affordable Solar Homes (MASH)
This is ideal for those who relocate to Los Angeles and do not hold a stable income. The incentive program aims at providing minimal-income homeowners with the use of photovoltaic systems without aggravating monthly expenses.
- Single-Family Affordable Solar Homes (SASH)
This incentive program also aims at providing low-income and single-family homeowners easy access to photovoltaic systems. Those who benefit from this incentive must earn less than or equal to 80% of the Area Median Income in three utility parameters (PG&E, SDG&E, and SCE).
With the positive incentives and rebates programs playing a crucial part in the solar system of Los Angeles, all new homeowners in this county will undoubtedly save a significant amount of money.