Residential Financial Incentives

There has never been a better time to go solar. There are significant financial incentives  available from the state and federal governments.  Utilizing strong state rebates and the most generous Renewable Energy Investment Tax Credit in a generation, homeowners can now install a solar PV system that pays for itself in as few as 6 years.

Investment Tax Credit

Residential solar systems are now eligible to receive a 30% Investment Tax Credit (ITC). For systems placed into service in 2010, homeowners are eligible to receive a tax credit for 30% of the system cost (after rebate cost). The Economic Stabilization Act of 2008 extended the Renewable Energy ITC until 2016, and included relief from previous Alternative Minimum Tax restrictions.

Please contact a Tenco Solar Energy Consultant to learn more about Financial Incentives you may be eligible to receive.

California Incentives for Homeowners

California Solar Initiative (CSI) Overview

California Senate Bill 1 (SB1) was signed into law in 2006 and provides $2.1 Billion to be used over 10 years as incentives to build commercial and residential solar systems in a program called the California Solar Initiative (CSI). Pacific Gas & Electric (PG&E), Southern California Edison (SCE) and San Diego Gas and Electric (SDGE) are the participating utilities for these incentives.

The CSI rebates paid to homeowners are on a declining schedule - so the sooner you go solar, the higher level of rebate you receive.

Rebates for Residential Solar Systems

Residential solar systems are eligible for a rebate of 20-30% of the total system cost based on the EPBB or PBI system-specific design factor. Tenco Solar fronts this rebate to homeowners effectively discounting the rebate amount from the net contact price.

Expected Performance Based Buyback (EPBB)

For most homeowners (systems less than 50 kW AC in size), the CSI program will pay a one time rebate payment based on the system's Expected Solar Performance. This rebate level is calculated by incorporating system-specific design factors including location, tilt, azimuth, sun exposure, and other installation details.

Performance Based Incentive (PBI)

If the client prefers, and for all residential systems over 50 kW AC in size, monthly rebate payments will be made based on the actual system performance in kilowatt hours (kWh) of solar power produced and measured over a 5-year period. Under this program the rebate is paid directly to the client, however Tenco Solar still takes care of all the paperwork and administrative requirements.

To be eligible for CSI rebates, the solar project's site must be within the service territory of and receive current or future retail level electric service from PG&E, SCE, or San Diego Gas & Electric (SDG&E). Other municipal utilities (such as SMUD, LADWP, Healdsburg, Riverside, etc.) offer independent solar rebate programs and incentives.

Please contact a Tenco Solar Energy Consultant to learn more about CSI rebate levels in your area.

For more information on the CSI programs, please visit : http://gosolarcalifornia.ca.gov.

To check current rebate levels in your area, please visit: http://www.csi-trigger.com.

California Solar Property Tax Exemption

The value of a solar PV system is added to the appraised value of your property and does not increase your property taxes. Solar is one of the few home improvements that can be justified in terms of return on invested dollar. This tax exemption extends for the life of the solar pv system. This provision can be found in the California Revenue and Taxation Code, Section 73. The National Appraisal Institute notes that the value added to a home by a solar PV system is 20 times the value of the electricity costs saved in the first year. Due to the significant State rebate, the value of your solar PV system is often greater than the cost of purchase from day one.

California Net Energy Metering

California's Net Energy Metering Law allows solar PV system owners to bank excess electricity back to the utility company at retail rates, for a credit to owners' accounts. This is literally saving for a rainy day: When a solar system generates more electricity than is consumed by the home, such as a sunny afternoon, the extra electricity flows back the utility grid, and the utility company credits the system owner mostly at high peak rates. On rainy days or at night, the solar customer uses these credits to purchase electricity from the utility grid, mostly at lower off peak rates.

Is Financing Available?

Financing is available with attractive rates and flexible term options. Feel free to discuss financing options with one of Tenco Solar's Energy Consultants. There is a financing program suited for you! 

Types of Financing Available