Los Angeles is known all over the world as the home to Hollywood stars, sun splashed beaches and a glamorous, carefree lifestyle.
But with more than 3,000 hours of sunshine each year, the Los Angeles and greater Southern California area also is a booming community for solar power. Add in valuable financial rebates and other incentives offered by Sullivan Solar Power, the city and other local authorities to residential and commercial property owners who install solar power equipment and you have an attractive and viable alternative to traditional power.
Here is a brief guide to Los Angeles solar power:
Local and State Solar Initiative Programs
The recent Los Angeles Department of Water & Power solar incentive program enjoyed explosive demand; it had set a goal of installing 93 megawatts of solar for its customers. That’s enough solar power to supply about 19,000 homes.
Los Angeles solar power customers can cash in on statewide solar initiatives. California exempts solar installations from property tax, which means you won’t pay more in taxes even though the value of your home will go up by installing solar power.
Los Angeles also offers net metering, which is another incentive for solar customers. A special electric meter installed on your property will keep track when your solar panels are producing more power than you are using. This commonly happens during the day, when the sun is out and your solar array is working at optimal levels, but you are at work and not at home using the electricity being generated. This is how you can literally spin your meter backwards and get paid for the extra electricity you produce!
The excess power detected by net metering is credited towards your future electric bills, helping you save more money. The Los Angeles solar power net metering program is limited to solar systems that are one megawatt or smaller, but since most residential systems are around five kilowatts, well below the one megawatt limit, most homeowners qualify for net metering.
Federal Solar Tax Credits
In addition to the local and state financial incentives, Los Angeles solar customers may be able to apply for and receive benefits under the federal solar tax credit. The credit currently is valued at 30% of the total cost of the solar installation. That means you could save thousands of dollars through the federal solar tax credits alone.
Los Angeles Solar Power Leasing
Property owners or residents who are interested in going solar but would rather explore a “pay as you go” financing arrangement may have an option in Los Angeles solar power leasing. By entering into a solar power lease and avoiding large up-front installation costs, residents can enter into an agreement with a solar power company to install the solar equipment on the home or business.
Under a Los Angeles solar power leasing agreement, the solar power company retains legal ownership of the solar equipment while the resident leases the equipment and enjoys the reduced or eliminated utility bills.