Incentives for Going Solar in California
Traditionally water heaters run off of gas or electricity, but California is ready to transition to solar powering water heaters. The California Public Utilities Commission declared Thursday that there will be incentives up to $1500 dollars to replace traditional water heater systems in existing homes and businesses. This will continue for the next 8 years or until the $35 million dollar budget program funds run out.
“The dispersion of solar heating systems can play an important role as we strive to achieve the goal of zero net energy in residential and commercial buildings by 2020 and 2030 respectively,” CPUC Commissioner Dian Grueneich said in a statement.
40% of the incentive is set aside for single family homes, while the other 60% will be reserved for multi-families and businesses. People eligible for this incentive are those who are currently getting service from PG&E Corp’s (PCG.N) Pacific Gas and Electric Co, Edison International’s (EIX.N) Southern California Edison, and Sempra Energy’s (SRE.N) San Diego Gas & Electric Co and Southern California Gas Co utilities.
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By going with solar powered electricity, you are also making a wise investment for your company. A business or factory with solar powered panels installed will depreciate much slower than similar businesses that have no solar power.