Most of us are familiar with the 30% tax incentive that is available to homeowners and business owners with the purchase of a solar panel installation. This 30% incentive can provide a major price break in the overall cost of a solar system. For many home buyers, the tax incentive provides an extra $4000 in their pockets come tax season. However, as the state continues to look for options to incentivize solar energy, the Self-Generation Incentive Program offers homeowners and business owners an additional financial incentive for getting a solar battery, or solar storage system.
What is a Solar Storage System?
Simply put, a solar storage system – also known as a battery, is a device that saves energy made by your solar panels to be used later. The stored electricity is consumed once the sun goes down, during energy demand peaks, or during a power outage. Batteries are rated differently, meaning each homeowner or business owner has needs that are different for battery storage. However, what you want to learn is how much energy the battery can store, and what the energy output is when it is time to deliver energy to your home or office.
What is the SGIP?
SGIP is an incentive offered by the California Public Utilities Commission. This incentive provides a rebate for people who purchase an energy storage system, or other qualifying energy distribution systems. Most homeowners can expect a $2100 – $3300 rebate. With the added benefit of the 30% tax incentive, there are a lot of financial advantages to installing a solar energy storage solution with your solar panels.
The next steps are simple. Reach out to your trusted, local solar company and speak with an Energy Adviser today. Learn how solar panels and a storage system can benefit your home or business. Plus, figure out how much money you can save with current incentives and rebates available to you.