You’re finally ready to have your panels installed. You’ve gotten quotes, chosen a site, secured financing, acquired the necessary permits and HOA approval, and your family is coming over this weekend to eat a dinner cooked on your electric stove powered by the sun. This is the last place you want something to go wrong.
If you want your 30% federal solar investment tax credit on the cost of going solar in 2015 your solar installation must be completed by December 31st, 2015.
One of the many benefits of going solar is receiving a federal tax credit of 30% of the price you pay after all other rebates and incentives have been applied. This means that a $10,000 solar PV system will result in a federal tax credit of $3,000 that you can claim for this tax year.
Net energy metering (NEM) is a system which compensates homeowners who own or lease rooftop and ground-mounted solar arrays and other renewable energy generation sources at full retail price. Since 1996 net energy metering has been a mainstay of the California solar market. It is the means through which solar customer’s energy meter’s “spin backward,” giving them credit for their surplus power being fed into the grid.