Solar energy installment experts located in Novato, California, has been authorized by the California Public Utilities Commission to provide a $350 million discount program for California-based residents and businesses that set up solar water heating systems in their houses and offices. Together with an existing 30 percent federal tax credit, the discount will save around 60 percent on the cost of solar water heating installations – as well as excessively reduce statewide greenhouse gas emissions.
The new program was initiated through Assembly Bill 1470, with its objective to make over 300,000 systems over an 8 year period. This goal, in turn, will assist the California population to conserve approximately 6 million cubic ft of natural gas and 3 million kilowatt hours of electrical energy every year; all the while creating countless new jobs. Beyond standard federal tax credits, owners of single family homes are qualified for discounts around $1,500; while multi-unit properties and commercial buildings are eligible for substantially larger discounts based on size and design. However, residents that wish to obtain larger discounts must participate in the program as early as possible since stimulus incentives tend to decrease in time based on participation. Program discounts will be available until December 31st, 2017, or until funds have been used up.