When it's about sustainable energy sources, the first thing that comes to mind is the installation of solar panel systems. Thus, many governments worldwide have declared certain benefits with installation and investment in solar panel systems for home or commercial properties. What is typically added in the California Solar Program within its benefits? If you are triggered by the same, here is a detailed blog that shares reasons why government organizations offer rebates and incentives on solar panel installations.
1. Lowers the Financial Hurdle Among People: Energy bills are high, and many people can’t afford them. Many believe solar panel installation is pricey; therefore, they don’t prefer it. Thus, to end that hassle of finances, the government ensures subsidies and benefits to save on the installation of solar panels. Financing options with favourable interest rates are also available.
2. Lowest Interest Rates: Finally governmental organizations have understood the risks with pollution on environment and benefit with solar energy generated electricity. Thus ensures for solar panel installation loans. Typically shares lower interest rates than traditional financing options.
3. Tailored Rooftop Solar Loan Programs: The diversity with landscape makes it difficulty to install solar panel on ground. Thus many governments have also implemented specific programs for rooftop solar panel installations (commercial and residential). Therefore aims on adoption of solar technology.
The Final Verdict:
Precisely government has came up with solar panel financing that beyond the traditional loans like California Solar Program. It do provide financial benefit for installation of solar panel but also alleviate the upfront cost on energy bills. The financial incentives like rebates, subsidies and tax benefits also being the part for the adoption of solar technology.