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The California Public Utilities Commission (CPUC) has approved a $350 million rebate program for solar water installations.
The rebate program, which is designed to encourage California residents and businesses to install solar water heaters, coupled with the 30% Federal Tax Credit, will allow Californians to purchase solar water heaters at 60% off their retail price. Average rebates for installations at single-family homes will be around $1,500, while commercial and multi-family properties are eligible for much larger rebates.
The program will either run until 2017 or until the funds are exhausted. CPUC's goal is that the program will lead to the installation of 300,000 solar water heaters in the next eight years. Solar water heaters are more energy efficient and obviously more environmentally friendly than gas-powered water heaters. If the program meets its goals, CPUC estimates that 6 million cubic feet of natural gas and 3 million kilowatt hours of electricity will be saved annually.
Michael R. Peevey, President of CPUC said, "[This] decision will increase consumer confidence and understanding of solar water heating technology and its benefits."
Read the full story at Renewable Energy World: California approves $350 million in rebates for solar water heating installations
