The California Public Utilities Commission has announced a nearly statewide financial incentive for solar hot water that will bring down costs for most utility customers by 51% to 60%, into a 3 year payback period. Customers of California’s three largest utilities can now get a 30% rebate for solar hot water. If they add the rebate to the new 30% Federal tax credit, they are saving 60%. The credit cap for apartment owners is set at $500,000, and the credit cap for commercial buildings is $250,000. This will significantly help California reduce its greenhouse gas emissions, since it is estimated that buildings who install solar hot water reduce natural gas use by 25% to 90%.
via Cleantechnica