What are the solar rebates and incentives in Los Angeles?
The energy needs of more than 9 million Los Angeles residents are greater than ever. Add this to the fact that electricity rates in LA are among the highest in the nation and you have every reason to install solar panels, Los Angeles. Given the impacts that using the freely available sunlight could bring to the city and its people, Los Angeles policymakers have been at the forefront in supporting the installation of solar panels and the use of solar energy. Again, policymakers are well aware of the environmental benefits that solar energy could bring to this amazing city.
For these reasons, the Los Angeles Department of Water and Power (LADWP) together with other authorities in LA, has provided various incentives and rebates to encourage and make it easier for you to install solar panels, Los Angeles.
Here are the major takeaways:
· All Los Angeles residents who buy their solar systems outright are eligible for 30% Federal Solar Tax Credit (ADD-LINK https://www.seia.org/initiatives/solar-investment-tax-credit-itc). This is a dollar-fordollar tax reduction in the income tax of any individual or company that applies for this credit. You should consider applying for this credit and enjoy major net gains at the end of the year.
· Los Angeles provides net metering programs that will not only help you reduce your energy bills, but can also be a beneficial way to generate additional income from any excess solar energy that you produce in Los Angeles.
· The LADWP provides a reimbursement of $0.25 per watt for solar customers in Los Angeles.
· You can take advantage of Performance-Based Incentive (PBI) where you can be paid for the kWh that your solar panels in Los Angeles are projected to generate for the next five years.
· Through the Community Solar Programs, also known as Solar Rooftops, you can qualify a monthly check of $30 reduction on your utility bill.
Evidently, Los Angeles is very supportive of solar installations and investments. You should take advantage of these incentives and install solar panels, Los Angeles.