Why Installing Now is Better Than Ever
Luckily for homeowners in San Diego who want to install solar to avoid these electric rate increases, the 30% Federal Solar Tax Credit is still around for the rest of 2019, making solar cheaper than ever, but only for the rest of the year. For those that don’t know, the Federal Solar Tax Credit is an income tax credit for 30% of the cost of your solar system, as long as you purchase the system and it isn’t a lease. So if your system costs $20,000, you will receive an income Tax Credit of $6,000.
After 2019, the Federal Solar Tax Credit is being phased out over a 4 year period, down to 26% in 2020, 22% in 2021, and then is applicable only to businesses, and is only 10% from 2020 onward.
In a city like San Diego where you only have one utility, and you can’t choose your power source, solar provides an alternative to the monopolistic utility. To go solar is to assert your free-market choice, and to free yourself from the ridiculous rate increases SDG&E implements to appease their shareholders and attract investors. So if you install solar this year, assuming you will owe on your Federal income taxes, your solar will be cheaper than any years in the future.
And the sooner you install solar, the sooner you can start harvesting your own power from the sun, and the sooner you will no longer be subject to the rate increases like the ones proposed over the next four years