Last month, the LADWP Board of Water and Power Commissions voted to approve changes to their Solar Photovoltaic Incentive Program that will go into effect on July 15, 2013. The most notable change is that the utility company will be lowering the incentive levels for the remaining steps of the program. The residential solar PV incentive for Step 8 will drop from $0.75 per watt to $0.40 per watt, Step 9 will drop from $0.65 to $0.30 and Step 10 will drop from $0.60 to $0.25.
The incentive program was originally launched as a way to encourage LADWP customers to go solar by rewarding them with a rebate that lowered the initial cost of a solar electric system. Incentive levels were designed to be paid in steps, meaning that as more people install solar systems, the amount of available rebate funding would decrease. At the moment, the program is currently in Step 8 of 10.
Once enough solar panels have been installed and the capacity of the program is reached, it will close and LADWP customers won’t be able to receive any rebates for their solar installations. Estimates by the utility company project that the program will last through 2016. However, many solar experts speculate that it may end earlier, possibly in late 2014 or early 2015 since there is usually an explosive increase in solar installations towards the end of a rebate program.
Many other rebate programs have already closed in other parts of California. The residential solar incentive programs for SDG&E and PG&E have both ended while SCE’s residential solar rebate program is currently in its last step.
If you have been on the fence about going solar and live within LADWP’s territory, there is no better time than the present to go solar while you can still take advantage of the rebate program and get money back on your initial solar investment. Contact AMECO Solar by calling (562) 633-4400 or emailing firstname.lastname@example.org and we can assist you in going solar.