Have you heard the news? San Diego’s solar industry has recently seen some HUGE wins that should result in a golden age for homeowners looking to go solar.
But how? For starters, congress has come together and extended the 30% Federal Tax Credit. On top of that, the Public Utilities Commission has proposed to extend net metering. Those two victories, combined with low interest rates, have created a solar financing trifecta.
There’s no telling how much longer the rate will be that low, so for folks that have been on the fence about going solar, now is the time to do it! By now you might be wondering – OK – this solar trifecta sounds good but how do these factors – the 30% tax credit, net metering, and financings rates – actually help homeowners save money by going solar today? Let’s check out the details:
30% Tax Credit: The Solar Investment Tax Credit (ITC) is a 30 percent tax credit for solar systems on residential and commercial properties. 2016 has seen a multi-year extension of the residential and commercial ITC which has helped annual solar installation growth by a massive 1,600% since being implemented in 2006!
Net metering: In a nutshell, utilities in California came dangerously close to getting rid of net metering for homeowners in the state. Fortunately, the California Public Utilities Commission has ruled in favor of a successor program that will allow homeowners to sell their surplus power generated by their solar arrays to the utility for a fair price.
Low financing: This one speaks for itself. We all want a lower APR – and we at Stellar Solar now offer an industry leading 1.99% solar loan and solar lease that are backed by industry leader SunPower. Customers are also welcome to provide their own financing. It’s a great option for homeowners who want little to no upfront cost when getting a solar system.
We’ve been successful over the past decade by building a business that drives referrals, the primary source of our new customers with over 4,000 of them in Southern California. We have built Stellar Solar by presenting homeowners with simple, honest, easy-to-understand options to go solar in a no-pressure environment with the best solar panels available. For Coronado residents looking to gain their energy independence and take advantage of the solar trifecta – we are here to help.