In the past, we discussed how solar energy helps to stimulate the economy and create new jobs. But does going solar in San Diego make the county lose money as well?
Actually it does.
The state senate recently extended a solar property tax credit that was supposed to expire in 2017. Senate Bill 871 has since been extended until 2025. And apparently, the legislation involved a lot of backroom dealing that ruffled some feathers.
Neighboring Imperial Valley is quite upset over this extended property tax exemption. The local government fears that they could lose millions of dollars over the next decade.
And you know what? They are absolutely correct. Any time you extend tax credits, you will reduce some revenue. It’s inevitable.
But in the long run, Imperial Valley, San Diego, and all of California will be much, much, much better off.
Solar Energy Is a Net Positive for Everybody
Imperial Valley should chillax. In fact, they should rejoice.
And here’s why:
More Jobs
As mentioned before, solar energy helps to create more green jobs. These are green jobs that cannot be outsourced. And they go disproportionately to graduating college students, returning military veterans, and those who have been out of work for a long time.
It’s not simply that you’re putting people to work (and bringing down unemployment numbers). You’re also creating more taxable income, more consumer spending, and more overall cash flow within the economy.
More Savings
Green job creation is only the beginning. By going solar, all of California (and the country) creates more savings. Homeowners and businesses don’t have to spend as much money on monthly utility bills. They are no longer “renting” electricity. They are creating it.
Less Cleanup
Because of the environmental and health-related benefits of solar energy, Imperial Valley will also have:
- fewer cleanup costs
- fewer healthcare costs
- fewer sick days
- a lot more productivity
The region will also benefit from more tourism. The cleaner Southern California stays, the easier it becomes to attract vacationers from all over the world.
Less Imported Oil
Going solar also helps to reduce oil imports (for the city, state, and country). This helps to strengthen the national budget. It also reduces the need to send troops overseas. The less we rely on foreign oil, the less we’ll have to protect our oil interests abroad.
Going Solar in San Diego (and Imperial Valley) Is the Right Thing to Do
So yes. This property tax credit will reduce “taxable” revenue. And yes, Imperial Valley will lose millions of dollars over the next 10 years.
But it will also make millions upon millions of extra money through:
- new tax opportunities
- greater savings
- more spending
- more jobs
And the community will be cleaner and more sustainable as a result. This is great for you, your kids, and your grandkids. Solar energy offers nothing but positives. So we should all rejoice that Senate Bill 871 has passed. It’ll make solar even more affordable than it already is.
To learn more about the benefits of solar energy, contact us today for a free consultation.
