If you’ve been thinking about going solar for a while, now is the time to take the plunge! There are excellent solar incentives available in 2023 that can help you save on your residential or commercial solar panel installation and speed up your return on investment.
Six Rivers Solar is the North Coast’s leader in solar energy and we’re here to help you take advantage of the best California solar incentives in 2023.
The Federal Solar Tax Credit
The federal solar tax credit goes by many names: the Investment Tax Credit (ITC), the solar panel tax credit, and the Inflation Reduction Act (IRA) solar tax credit, just to name a few. But no matter what you call it, the federal solar tax credit is the best solar incentive that’s available right now. The credit is worth 30% of your total solar installation costs and can be used to reduce what you owe in federal taxes. In most cases, this translates into thousands of dollars of savings.
The ITC is not a California-specific solar incentive—there is no California state solar tax credit—but California homeowners and businesses are eligible for it! The 30% solar tax credit will be available from 2023 until 2032, after which it will reduce in value before being phased out. To claim the solar tax credit in 2023, your solar installation must be completed and your system turned on by the last day of the year.
Don’t miss out on the federal solar tax credit in 2023! Schedule a free solar consultation with Six Rivers Solar today.
Net Energy Metering 3.0
Net Energy Metering (NEM), also known as net metering, is a solar incentive system that allows solar customers to trade electricity with their utility companies. During peak sunlight hours, solar panels generate more electricity than the average home needs. Net metering allows you to sell the excess energy to the grid in exchange for credits, which can be used to pay for the electricity you buy from the grid when your solar panels are not meeting your needs—at night, for example.
California has offered net metering for years, but its NEM laws are changing with the introduction of NEM 3.0 in California. Under the new NEM 3.0 laws, solar customers won’t be paid for the full retail rate of the electricity they export to the grid. Instead, they’ll be credited at rates that vary depending on the time of day. This makes battery storage more valuable than ever. If you install a solar battery, you can store your excess power until NEM rates are at their highest and then export it to the grid.
Self-Generation Incentive Program for Solar Energy Storage
The California Public Utilities Commission (CPU) has offered a Self-Generation Incentive Program (SGIP) for several years, which provides rebates to customers who install qualifying distributed energy systems. The SGIP program was recently expanded to include advanced energy storage systems, including solar batteries! Residential and certain non-residential customers of PG&E, SCE, SoCalGas, and SDG&E are eligible for the rebate program.
Take Advantage of California Solar Incentives in 2023
Six Rivers Solar is here to help make your solar installation as affordable as possible with flexible financing options, solar rebates, and incentives. We are a local solar panel company that is deeply invested in the community we serve and committed to making solar accessible to North Coast homeowners and businesses. Our team installs custom solar energy systems for homes, commercial buildings, and cannabis farms, and we specialize in advanced off-grid and battery storage systems. Reach out to chat with us about your property’s solar viability, and find out how much you could save with solar!