The Federal government has been giving out incentives over the past 30 years to influence homeowners and business owners to go solar to consume less energy to assist in the slowing of global warming and increasing taxes on energy consumption. A lot of the times power companies go out of state to by power from plants located around the United States, this causes your rates to increase and the power companies do not pay a federal tax on the out of state energy, only an out of state transfer fee is paid. It is another way power companies make money off of each other and then charge the consumer for it. Here are some of the Government incentives offered from Federal, State, and Local organizations:
Financing: What are your options?
There are a few options you can choose from when it comes to choosing how to finance your solar system. Below are a few options offered by Energy Builder’s Inc.
Finance through one of our green lenders or go through your own financial institution. Cash deal will earn an additional discount. Fixed Interest Rates on financing ensures all of our customers lock in amazing rates and so there is no change in monthly budgeting.
leases are processed through equipment manufacturers or equipment dealers. Some Panels may not qualify for leasing depending what kind of brand you go with. A Lease usually qualifies for a $0 Down program but usually ends up being more money out of pocket in the end.
Power Purchase Agreement (PPA)
The Power Purchase agreement is the least efficient way to fund your new solar electric system, with varying deductibles, and fluctuating interest rates paired with dismal savings, we strongly recommend an alternative financing option.
Federal Tax Credit
Since 2008, The United States Government is encouraging homeowners to go solar by offering a 30% Tax Credit to all Solar Electric Installations. The 30% Federal Tax Credit qualifies you to write off 30% of your tax liability but only on the equivalent of your financial investment. Therefor, whatever you pay in a fiscal year your tax liabilities will be less, for example if you bought a $10,000 Solar System, and your Tax Liability for the year will be $20,000, your new tax liability would be closer to $17,000. We explain this process to make sure you understand how it works and we also take care of all the paperwork for you that is needed to do qualify.
Federal Tax Credit
With relationships with many reliable resources in regards to financing we offer a variety of payment options. For our best rates most customers will need to have a fico score of over 660 and a debt to income ratio of less than 65%. To see if you qualify, either call us now at (858) 577-0400 to schedule an appointment for fill out the contact form on the home page or refer to our “contact us” tab and fill out the contact form for more information.
SDG&E Annual Increases
Every year SDG&E is notorious for raising energy costs per kwh. There are additional reasons for this than just your average inflation increases, just a few short weeks after a 7% Rate increase was set in place, SDG&E was approved for an additional 12.9% Rate increase to take effect starting in 2014. Reasons for these increases are due to increased solar system installations, to cover law suits from the 2004 and 2007 southern California wildfires, and from San Onofre Nuclear Power Plant being non-operational and so to make up for the fee of going out of state to buy power, usually from Arizona and Colorado.
San Onofre Power Plant Decommissioned
Just this year San Onofre was not approved to open back up due to its uncertainty regarding its safety. What this does is it causes SDG&E to go out of state to buy energy. SDG&E has a few sources it collects energy from, through its renewable energy plants including solar, wind and turbine generators, it also collects power from Gopher Canyon Power Plant and from 3 different plants located in Colorado and Arizona. Permanently having to buy out of state power will cause an inflated rate causing Southern California to be the most expensive place in the United States for Energy Consumers. Do not wait for this to happen, take the first step and contact us to get more information on how to avoid paying fees that your not responsible for.
Neighborhood Saving Program
We are initiating a Neighborhood savings program. The promotion is simple, if you are looking to go solar and not exactly happy about pricing, there is another alternative to your options, although financing will be the same yet at a much better price which almost cuts the interest out of the equation. Just like if you were to go to Costco or a Sam’s Club when you buy anything in bulk you usually receive a bigger discount. What the requirements are for this program are simple, A minimum of 3 Solar Systems to qualify. The more solar systems the better price for each person involved in the deal. We also allow each neighbor to add as many systems to the deal as well including any friends or family members that do not live in the neighborhood may qualify as well. Energy Builders, Inc. is a leading Solar Panel Installer in San Diego, CA and we have over 300 solar installations in the San Diego, CA area. Inquire Now to see how much you, your neighbors, family, and friends can save regarding your neighborhood solar program.
HERO, San Diego, and County
The Hero program is a new initiative being introduced in various parts of Southern California, There are just a few small areas that qualify for this program located in Temecuala, Riverside, Orange County, and San Diego. The Program uses a new way to finance including no credit checks, No Income verification, and initiates a quicker installation process. The Cost of the solar electric system would be added to your property taxes, the benefit of this is the time to pay back can be over 20 years with very low interest rates, the only downfall to this financing option is that it is a time limited program which means it will not last forever, just like the California State Rebate Solar Initiative Program which was depleted last year. If your a Temecula, Riverside, and Orange County Resident, Don’t hesitate to install solar, It will be a lot more affordable for a limited time! We are Solar Panels San Diego Inquire now!