2023 Solar Incentives Guide for San Marino, CA - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in San Marino.
You'll learn about:
- Local & State Solar Incentives
- Federal Tax Credits (Updated for 2023 and beyond)
- Ways to optimize your solar investment
Solar installers are experts in maximizing your solar tax credits and rebates.
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Updated September 15, 2023
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What Solar Tax Credits, Incentives, and Rebates are Available in San Marino?
Property Tax Exclusion for Solar Energy Systems and Solar Plus Storage System
Western Riverside Council of Governments - Home Energy Renovation Opportunity (HERO) Financing Program
Minimum financing: $5,000
The financing may not exceed fifteen percent (15%) of the market value of the property, up to the first seven hundred thousand dollars ($700,000) of the property’s market value, and ten percent (10%) of the remaining value of the Property above seven hundred thousand dollars ($700,000) minus any PACE assessment on the property The total amount of any annual property taxes and assessments shall not exceed five percent (5%) of the property's fair market value, determined at the time program financing is approved.
Local Option - Municipal Energy Districts
Self-Generation Incentive Program
Incentives will step down over time. See below for incentive amounts.
Renewable Market Adjusting Tariff (ReMAT)
LADWP - Feed-in Tariff (FiT) Program
Base price will step down over time as certain MW goals are met
California Solar Initiative - Solar Thermal Program
Single Family Residential Incentives:
Systems that displace natural gas: $29.85 per estimated therm displaced
Systems that displace electricity or propane: Funding has been exhausted
Commercial/Multifamily Incentives:
Systems that displace natural gas: $20.19 per estimated therm displaced
Systems that displace electricity or propane: $0.42 per estimated kWh displaced *** Note, funding has been exhausted in this category for SCE and PG&E
Solar Pool heating: $5.00 per estimated therm displaced
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
Solar incentives are intended to encourage people to make the switch to renewable energy by providing incentives meant to lower the financial burden of solar panel installation and use. Various kinds of incentives, including cash back, discounts or credit towards your monthly utility bill, might be available to you. Certain incentives may be offered by the California government, by your utility company or by county or municipality, while other incentives are federal. Categories of solar incentives include:
- Tax Credits: Unlike tax deductions, tax credits reduce, dollar-for-dollar, the amount of income tax that you owe the federal government.
- Net Metering: Make sure you talk with your San Marino utility company about signing a net metering contract. This will allow you to receive credit towards your monthly utility bill for the value of excess energy your solar panels generate. You may receive either a dollar-for-dollar credit or a percentage of the value.
- Solar Renewable Energy Certificate (SREC): SRECs and similar performance-based incentives are normally handled at the state level. Once your solar panel system meets the qualification threshold (generally a small amount of energy production), you can receive SRECs that can be sold to your utility company or other buyers. The money you receive from the sale is usually considered part of your taxable income.
- Tax Exemptions: Your solar panels may qualify for both sales tax and property tax exemptions. Sales tax exemptions come into effect at the time of purchase. Property tax exemptions let you ignore the value that solar panels add when you are calculating property taxes on your home.
- Rebates: Your solar installer might help you claim a rebate, or partial refund of your purchase, for your solar system. Counties or states will also offer limited-time rebates at various times. Any rebates you receive will usually be deducted from the total price before any tax credits are calculated.
Best Regional Coverage
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Federal Solar Incentives
Federal solar incentives are probably the first thing that you think of when thinking about solar incentives. You might have heard of the Federal Solar Investment Tax Credit, or ITC. This incentive is a tax credit that reduces your taxes by a certain percentage of the money you spend installing solar panels.
The ITC can be applied to solar panels installed after January 1, 2006 on a primary or secondary residence in the United States that you own. Originally, the tax credit was for 30% of the total cost — for panels, equipment, labor and accessories — although that amount may range from 26-30%, depending on when your solar system was installed. There is no cap on the amount you can claim.
To know exactly how much the ITC could save you, contact your local San Marino solar panel installation expert.
In August 2022, the Inflation Reduction Act expanded and extended the ITC, now titled the Clean Energy Credit. Under the new program, solar installation projects that are completed between 2022 and 2032 might qualify for a 30% tax credit. The amount of the credit will then decrease slightly each year until the end of the current Clean Energy Credit in 2035. Starting in 2023, it will also be easier to get credits for energy storage systems with the new act.
Click here to learn more about the new Inflation Reduction Act. To better understand how the new Clean Energy Credit will apply to you, reach out to your local San Marino solar installation company.
State & Local Solar Incentives
Some solar incentives may be provided at the state and local level. Similar to federal incentives, these could include tax credits, rebates and more. Some incentives are ongoing, while others may only be available for a limited time. Incentives might be given by your county or municipality, or by the California government.
Next Steps for Installing Solar in San Marino
You can qualify for solar incentives from the federal government and the California government, as well as from your local utility company. Growing availability of solar initiatives over the last 15 years has helped greatly increase nationwide adoption of solar energy. If you're ready to make the switch to solar energy, getting in touch with your local San Marino solar panel installation expert is a great first step.
EcoWatch's San Marino, CA Solar Incentives FAQs
Who installs solar panels near me?
To learn about the best solar panel installers near you, take a look at our article on the best solar companies in San Marino.
What are some of the environmental benefits of switching to solar energy?
Solar energy is a renewable energy source — by switching where you get your energy, you help reduce the strain on our planet's resources. You can also reduce the CO2 emissions from your home by 250 pounds annually, or roughly 5,000 pounds in 20 years.
I want to change out my appliances for ones that are more energy-efficient. Are there any incentives I can get?
Under the new Inflation Reduction Act, there are a number of new financial incentives to encourage you to make eco-friendly improvements to your home. More details about these incentives, including information about incentives for purchasing new appliances, can be found here.
Can I use a combination of multiple types of renewable energy to power my home?
Yes, you can utilize multiple types of renewable energy to power your home — for example, a combination of wind and solar. You can also use both renewable energy sources and a backup source of non-renewable energy. Make sure that you discuss the details of your plan with your local San Marino solar panel installer, to make sure you know what you'll need and what incentives you will or won't qualify for.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Solar incentive research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.