We’re giving a heads up to all our prospective customers that the rebates available under the California Solar Initiative in PG&E’s utility territory are about to fall. We figured we should blog it as well because it is an important fact for anyone considering solar to know. Here’s why:
The rebate you get for going solar covers a good chunk of the cost of your system. The way the policy that creates this rebate was designed, it drops over time as more and more solar gets installed. This incentivises more solar to be installed sooner – and indeed it has.
In PG&E’s turf here in Northern California, incentive levels are currently $1.55/Watt and will soon be falling to $1.10/W â€“ a 30% drop in rebates. We’re monitoring this carefully and updating this page as often as possible to provide you with the most up to date information on this rebate reduction.
The way it works is that the incentive level falls over time as more solar is installed per utility territory, and we are approaching the next drop. This will reduce the incentive for the average system size by about $2,000 and potentially much more for larger systems.
In PG&E’s territory there are 5 remaining megawatts of solar that will receive the current incentive, and the company received 0.5 MW of applications in a single week in July (applications will speed up considerably as we get closer to the drop).
What this means is that the best time to go solar is today. This is from an economic as well as environmental point of view. Some of the hardware costs are falling and Sungevity recently passed on the benefits in a price reduction for our systems. But don’t wait till the price comes down further and risk missing out on the best rebate you can get, which is while it is still at $1.55/ watt.
Remember, if you are considering buying from us or any vendor, your rebate is only reserved once all the application documents are submitted to PG&E and they review and approve them. So you better make your decision as soon as you can! Shine on.