The rebate program, which is designed to encourage Californiaresidents and businesses to install solar water heaters, coupled withthe 30% Federal Tax Credit, will allow Californians to purchase solarwater heaters at 60% off their retail price. Average rebates forinstallations at single-family homes will be around $1,500, whilecommercial and multi-family properties are eligible for much largerrebates.
The program will either run until 2017 or until the funds areexhausted. CPUC’s goal is that the program will lead to theinstallation of 300,000 solar water heaters in the next eight years. Solar water heaters are more energy efficient and obviously moreenvironmentally friendly than gas-powered water heaters. If theprogram meets its goals, CPUC estimates that 6 million cubic feet ofnatural gas and 3 million kilowatt hours of electricity will be savedannually.
Michael R. Peevey, President of CPUC said, "[This] decision willincrease consumer confidence and understanding of solar water heatingtechnology and its benefits."
Read the full story at Renewable Energy World: California approves $350 million in rebates for solar water heating installations