The California Solar Initiative offers cash back for installing solar on your home or business.
The state of California offers the California Solar Initiative (CSI) which is currently paying a state rebate that covers up to 25% of the total system installation cost. In addition to the state rebate, the federal government provides for a 30% federal income tax credit on residential solar systems. By utilizing both state and federal incentive programs, the total system cost is reduced up to 50%.
The state of California offersthe California Solar Initiative (CSI) which is currently paying a state rebate that covers up to 20% of the total system cost. In addition to the state rebate, the federal government has placed an initial 30% federal income tax credit on commercial solar systems. Business also can depreciate the adjusted basis over a 5 year period.
California Solar Incentive payments are currently disbursed in one of two ways:
Currently, only program participants applying for systems smaller than 50 kilowatts (kW) may take the EPBB payment. Beginning January 1, 2010, only systems smaller than 30 kW will be eligible to take the EPBB payment. Any systems eligible to take the EPBB payment may opt to take the PBI payment instead.
The EPBB payment and the PBI payment are intended to be financially equivalent. That is, the up-front payment disbursed to an EPBB applicant is the same after accounting for the time-value of money as the stream of monthly payments disbursed to a PBI applicant. The PBI payments are scaled up 8 percent a year compared with the EPBB payment to account for inflation and the lost return on an investment of equivalent risk.
Certain other rules and requirements apply and must be adhered to in order to be allowed the energy tax credits.
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