Thursday, August 6, 2009

Solar Universe Opens Office in Thousand Oaks

Rebates help lower cost of solar
A light bulb went off in the head of a Thousand Oaks retiree after he heard about tax rebates for solar energy. Now he is back to work.

Mitch Katz was searching for a way to reduce the $1,500a-month electric bill on his 7,000-square-foot home. Upon investigation, he found that California is giving almost a 20 percent rebate and the federal government is offering a 30 percent tax credit to homeowners who convert to solar power.

His familys swimming pool was already heated by solar energy, keeping it at a constant 85 to 90 degrees without using propane, Katz said.

Research showed him that a group of 126 solar panels installed on a hill on an unusable portion of his property would give him more electricity than he needs, taking him off the grid and giving him energy credits.

The photovoltaic solar panels for his 28kW system cost $150,000 before rebates. He did the math and realized with the rebates he would be saving money after just a few years.

I was so impressed with the money I am saving that I bought a franchise (in the solar company). The federal tax credit is a real tax credit, not a deduction - Katz said.

1 comment:

  1. Solar Universe is the next big company in this segment, great business, great leadership and a wonderful industry. Kudos to these guys.