SAN FRANCISCO—The California Public Utilities Commission (CPUC) approved the California Solar Initiative (CSI) Thermal Program, which authorizes $350 million in rebates for businesses and individuals that install solar thermal systems. The program will energize the state’s solar thermal market by making it cheaper and easier for businesses and property owners to purchase solar thermal systems.
“These systems can be cost-effective for ratepayers, while helping to displace both electricity and natural gas usage in new and existing homes and businesses,” said Commissioner Dian M. Grueneich of the CPUC. “Thus a focused, cost-effective program to improve the market for this technology can serve as a key step in our path to zero net energy.”
Solar thermal systems use the sun’s energy, rather than fossil fuels, to heat water and other fluids. Professionally installed systems can significantly reduce site-generated greenhouse gas emissions and enable long-term ROI through decreased utility bills. Solar thermal systems are ideal investments for businesses and facilities that require large quantities of hot water or other fluids, such as multifamily dwellings, industrial facilities and swimming pools.
Good News for Businesses
“The solar thermal rebate program is fantastic news for businesses that want to heat water cheaply and go green at the same time,” said Justin Weil, a nationally known expert on solar thermal and president of leading U.S. solar thermal company SunWater Solar. “To maximize a system’s ROI though, businesses need a knowledgeable partner with the experience to know what type of solar thermal system will best meet their requirements.”
With a certified staff and a record of improving the bottom line for commercial clients, SunWater Solar can manage every phase of a solar thermal implementation, from value analysis, to system design, to system installation and maintenance. Because SunWater Solar focuses exclusively on solar thermal technology, the company can provide comprehensive support to businesses implementing solar thermal technology for a wide variety of applications, including domestic hot water, process heating and pool heating.
In addition to the $350 million in rebates authorized by the CSI Thermal Program, there are a variety of other financial incentives and structures in place that encourage solar thermal adoption, both within California and throughout the United States. These rebates, tax benefits and financing options include:
• Power Purchase Agreements, in which a third party funds the installation of a solar thermal system and the client pays a reduced rate for utilities.
• The Investment Tax Credit, a 30 percent federal tax credit.
• Under the federal Modified Accelerated Cost-Recovery System (MACRS), qualified businesses may recover investments in solar thermal through depreciation deductions.
• Property Assessed Clean Energy programs, which allow municipalities to offer financing for solar thermal systems through property taxes.
• Financing is available from lenders who offer solar loans with no money down and low interest rates.
• Rebates offered by many state and local governments.
Go to SunWater Solar.
