Sacramento Solar Specialists: Local and Federal Tax Benefits

Published October 2013 by

California, particularly Sacramento, offers numerous local and federal tax incentives to residents who obtain their electricity from solar-powered energy producers. The rising prices of petroleum coupled with the recent economic recession have led many California residents to take advantage of the tax credits and rebates offered for using solar and other renewable energy sources. Aside from obtaining their energy from a renewable source that decreases their carbon footprint, residents can enjoy financial benefits from going with solar energy systems. Homeowners in the Sacramento area would do well to be aware of the various ways that they can obtain tax credit and rebates from their power company, the state and the federal government.

California Solar Initiative Program

Sacramento is part of the California Solar Initiative (CSI) Program. This state rebate program mandates that Sacramento solar specialists should offer a rebate to solar installations. This program covers different varieties of installations, including photovoltaic panels and other solar-based heating systems. Since 2007, the top solar companies have been offering financial incentives to those whose installations have been integrated into their own grids. This 10 year project has a budget of $1.95 billion, a great incentive for Sacramento residents to hop on the solar bandwagon.

The program has two main components: the Multi-Family Affordable Solar Housing program (MASH) and the Single Family Affordable Solar Housing program (SASH). Residents should contact reputable Sacramento solar specialists for more information regarding the CSI programs. Small-scale energy producers can also sell excess energy to local utilities in order to obtain deductions in their power bills.

California Property Tax Exclusion for Solar Energy Systems

Residents who are looking into solar energy can also take advantage of the California Property Tax Exclusion for Solar Energy systems. Under the California Revenue and Taxation Code (Section 73), certain installations or systems that produce energy from the sun can apply for property tax exclusion. The County Assessor’s Office has all of the information owner and builders need to take advantage of this particular tax clause. Sacramento solar specialists can also help homeowners determine whether or not they qualify for this exclusion.

Federal Tax Credit

Homeowners looking to get into solar energy generation can also take advantage of the 30% Federal Tax Credit. Each dollar homeowners spend in building, operating and maintaining their systems will be equivalent to a dollar deducted to their federal tax liability. People who have already paid their taxes prior to taking advantage of this program are still eligible for a tax refund. The tax credit expires in 2016 so home and building owners should plan accordingly.

Not only is the sun and environmentally-friendly energy source, but it also provides a financially viable alternative to traditional power systems. Sacramento’s solar energy programs are among the best in the country. With incentives on the corporate, municipal and the federal level, residents are encouraged¬† to get in touch with Sacramento solar specialists in order to find out more about what each particular program entails. Solar energy is the way of the future and with these tax and financial incentives, California in general and Sacramento in particular make a great place to set up a solar powered household or building.

Sources:

California Solar Initiative:

http://www.dsireusa.org/incentives/incentive.cfm?Incentive_Code=CA134F&re=1&ee=1

Property Tax Exclusion for Solar Energy Systems:

http://www.dsireusa.org/incentives/incentive.cfm?Incentive_Code=CA25F

Federal Incentives:

http://spearheadsolar.com/blog/?p=74

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