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We have just learned that Pasadena Water and Power (PWP) will slash its residential solar rebates by 30% effective June 1, 2012. The reduction only affects EPBB rebates and will lower the amount from $2.00 to just $1.40/Watt. Potential clients who wish to secure a rebate under the present rates must have complete and correct rebate applications on file with PWP by May 31, 2012. Partial or incorrect applications will be rejected and will have to be re-submitted at the lower rate.
(Interestingly, PBI rebates are not declining which would mean that for clients who can tolerate waiting to receive their rebate payments over five years, they will do much better than clients needing the lump-sum EPBB rebate after June 1.)
UPDATE - Turns out that after we wrote this, PWP decided to also slash its PBI rebates for residential customers from the current $0.302/kWh down to $0.212/kWh effective June 1. Did our previous suggestion (now in strike-out type above) contribute to this policy change?
Unaffected are commercial and government/non-profit rebate rates, which were most recently reduced as of December 1, 2011.
We always experience a crush of inquiries about possible solar projects in advance of a major rebate reduction like this one and potential clients are encouraged to act quickly to avoid the hassle of trying to get necessary paperwork completed at the last minute.