The big push for solar
As much as 60% of your installation costs could be covered!
Solar photovoltaic (PV) systems convert the energy of the sun into electricity that is pollution-free, renewable, reliable, and safe. There has never been a better time to look at a solar energy system, as the installation costs are continuing to go down, and rebates and tax credits have made going green through solar more affordable than ever.
The State of California has mandated that all electric utilities provide rebates to residential and commercial customers who install an approved solar PV system. Effective January 1, 2009, new federal legislation provides for a 30% tax credit on the total cost of a solar energy system, removing the previous $2,000 payment cap, creating a compelling incentive to install a solar PV system now.
The AMP Solar Rebate Program
AMP is offering $4.2 million in financial incentives over 10 years to customers who install solar PV systems. Rebates unused in a given year will be made available the following year until our target total of 2,127 kW has been reached. AMP offers an up-front rebate for installations smaller than 50 kilowatts (CEC-AC) and a performance-based incentive (PBI) for installations of 50 kW and larger.Up-front Rebate
Residential and commercial projects with a system rated capacity smaller than 50 kilowatts (CEC-AC) are eligible for an up-front rebate based on the system rated capacity. The up-front rebate is calculated as follows:
Up-front Rebate = CEC Watts/Module* x # of Modules x Inverter Efficiency x Up-front Rebate Level
* Power rating as listed by the California Energy Commission
The solar rebate budget for 2010 has been fully reserved. Customers may still apply for an up-front rebate at the 2011 level of $2.25 per watt.
Performance-Based Incentive (PBI)
Commercial projects with a system rated capacity greater than or equal to 50 kilowatts are eligible for a performance-based incentive (PBI), paid quarterly over 5 years, that is dependent on the actual output of the system. The PBI is calculated as follows:
Performance-Based Incentive = Actual Generation in kWh x PBI Level (paid quarterly over 5 years)
| Year | Budget | For projects < 50 kWCEC-AC |
For projects >= 50 kWCEC-AC |
||
| Up-front Rebate ($/W) | Residential Set-aside kW | PBI ($/kWh) | Max kW Available | ||
| 2008 | $420,000 | $ 2.80 | 20 | - |
- |
| 2009 | $420,000 | $ 2.60 | 20 | - |
- |
| 2010 | $420,000 | $ 2.42 | 50 | $ 0.27 |
62 |
| 2011 | $420,000 | $ 2.25 | 50 | $ 0.26 | 137 |
| 2012 | $420,000 | $ 2.09 | 50 | $ 0.24 | 151 |
| 2013 | $420,000 | $ 1.95 |
50 | $ 0.22 | 165 |
| 2014 | $420,000 | $ 1.81 | 50 | $ 0.21 | 182 |
| 2015 | $420,000 | $ 1.68 | 50 | $ 0.19 | 200 |
| 2016 | $420,000 | $ 1.57 | 50 | $ 0.18 | 218 |
| 2017 | $420,000 | $ 1.46 |
50 | $ 0.17 | 238 |
Rebate Eligibility
Rebates are available to all residential and commercial customers on a first-come, first-served basis. Participants will be required to undergo a free energy efficiency audit, accept the terms and conditions in the AMP Interconnection and Purchase Agreement, and obtain necessary building permits from the City of Alameda.
Solar Savings Example
(for illustration purposes only)| 3kW system (Cost at $8/ installed watt)* | $ 24,000 |
| AMP rebate (No shading - $2.42/watt) | -7,260 |
| Subtotal (minus AMP rebate) | $ 16,740 |
| Federal tax credit (~30% * $16,740) | -5,022 |
| Final Cost of Ownership | $ 11,718 |
| Total Savings |
$ 12,282 |
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