Can I Really Get Paid to Go Solar?
Updated: Sep 14, 2020
There are many ways someone can get paid to go solar, here are 5 ways.
5 Ways you can "get paid to go solar"
1. The most common way homeowners can "get paid to go solar" is by recovering a 30% federal tax credit (ITC-Investment Tax Credit) when they install solar panels. In 2020 the solar tax credit drops to 26% and is eventually disappearing all together. If your roof needs to be replaced, you can take advantage of the tax credit for part of the roof replacement as well; a 30% roof discount sounds pretty good to me.
2. Many local and state programs offer a cash rebate paid directly to the homeowner when they purchase and install solar. You can search your zip code at https://www.dsireusa.org/ to find all incentives your state offers.
3. Even if your state doesn’t offer solar rebates, you may still be eligible for Solar Renewable Energy Credits (SRECs). Solar Renewable Energy Certificates (SRECs) are a solar incentive that allows homeowners to sell energy to their utility for credits. A homeowner earns one SREC for every 1000 kilowatt hours (kWhs) produced by their solar panel system. An SREC can be worth over $300 in certain states. In some states, you can earn and sell credits for the electricity your solar system produces.
4. Self -Generation Incentive Program also known as SGIP is a rebate that pays homeowners when they have a solar battery installed. Homeowners who are PG&E, SCE, SCG, or SDG&E customers will be eligible for an incentive as high as $400 per kilowatt-hour (kWh). The value of the per-kWh incentive depends on the size of the battery you purchase.
5. In addition, some solar providers offer a cash back signing bonus that pays you when you have solar installed on your home which is yet another way you can "get paid to go solar".
Now that you know 5 ways you can "get paid to go solar" are you ready to make the switch?
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