Reduce Your Utility Bill
Increase Your Property Value
Help the Environment
Federal Investment Tax Credit (ITC)
- Write off 30% of your solar project expenses–no cap.
Has to be up and running by 12/31/16.
- Off or on grid.
(Use IRS Form 3468 to apply for the tax credit and Form 5695 to report it on your taxes.)
PACE financing available
- 100% up-front financing for your solar project which you repay through your property taxes (2 times/year).
- If you sell before paying off the financing, then the new owner assumes payments.
- Financing can be spread over 20 years for up to 15-20% of the property value.
- Loan minimum is $5,000, max $200,000.
- Lending is not based on your credit rating.
- Mono County has 2 approved PACE dealers: FigTree Financing and HERO. http://www.monocounty.ca.gov/auditor/page/pace-property-assessed-clean-energy
- Inyo County has 2 approved solar loan dealers: Matadors Community Credit Union and Umpqua Bank. http://www.inyoplanning.org/ERRE.htm
- Financing for solar projects for low-income families (household income <50%-80% of the area’s median income which is $32,450 for Mono Co. for 1 person).
- Has been used in Inyo County.
Net Energy Metering (NET)
- Generate up to 1 MW of electricity and SCE will credit/pay you for any excess for up to 20 years at retail rates.
- SCE is still accepting applications until 7/1/2017 or when they reach their 5% goal. They are at 2.81% as of 8/10/15. sce.com/gosolar
- LADWP also has a program called FiT, where DWP buys all your electricity at a premium rate and then you pay as you normally do for the electricity you use. You can use their NET or FiT program, but not both.
- Residential: $0.30/W paid up front, one-time-only for systems up to 30 kW
- Commercial: $0.70/W paid monthly for 5 years based on actual kilowatt-hours generated.
- Maximum rebate up to 75% of project costs for residential, 50% for commercial.
- Expires 12/31/2017 or when their MW goal has been met.
- Increases your property value.
- Does not increase your assessed property value while you live there.
This flyer in MS Word format: Solar Incentives Flyer2