Great news from the CSI-Thermal Program Administrators!

Administrators announced yesterday that the CSI-Thermal rebate for low income multifamily buildings will increase to $19.23 per therm offset – 150% of the current incentive level ($12.82 per therm offset). The new, higher incentive will take effect March 29, 2012, and makes solar water heating an even more financially attractive proposition for low income multifamily building owners looking to slash water-heating bills.

In addition to the higher rebate, low income multifamily buildings can realize even more value from solar thermal technology by taking advantage of financing options available for solar water-heating projects. One option is a Power Purchase Agreement (PPA); a financial tool that allows building owners to acquire a new solar water-heating system for no money down. Most multifamily buildings in California heat their water with natural gas, which these days is priced at historic lows. By purchasing through a PPA the energy created by a solar water-heating system, building owners can lock in long-term discounted rates for water heating. When natural gas prices rise, which they inevitably will, these building owners will be insulated from natural gas price fluctuations for decades to come.