CA Residents to Receive $350M in Rebates for Installing Solar Water Heating Systems-

SolarCraft, solar energy installation experts based in Novato, California, has been approved by the California Public Utilities Commission to provide a $350 million rebate program for California-based residents and businesses that install solar water heating systems in their homes and offices. Together with an existing 30 percent federal tax credit, the rebate will save around 60 percent on the cost of solar water heating installations – as well as excessively reduce statewide greenhouse gas emissions. The new program was initiated through Assembly Bill 1470, with its objective to establish over 300,000 systems over an 8 year period. This goal, in turn, will help the California population to conserve roughly 6 million cubic feet of natural gas and 3 million kilowatt hours of electricity every year; all the while creating countless new jobs. Beyond standard federal tax credits, owners of single family homes are qualified for rebates around $1,500; while multi-unit properties and commercial buildings are eligible for substantially larger discounts based on size and design. However, residents that wish to obtain larger rebates must participate in the program as early as possible since stimulus incentives tend to decrease in time based on participation. Program rebates will be available until December 31st, 2017, or until funds have been used up. Video below, courtesy of KPBS Public Media in San Diego, demonstrates the considerable benefits of solar water heating systems.