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Stock Market

Solar Alliance Energy Inc. has gained Approved Developer status for California’s Self-Generation Incentive Program (SGIP), a program that provides incentives for existing, new, and emerging distributed energy resources including home battery storage.

 

The Vancouver-based company has been allocated a portion of the incentives available for residential and small commercial storage systems and will manage the incentive applications for customers. 

"Battery storage is transformative in the same way that cellphones and laptops allowed people to cut the cord, creating energy independence by powering a home even during a power outage," said Solar Alliance chair of the board and chief executive Jason Bak. "Combining this incentive program with the federal investment tax credit, homeowners may be eligible for up to 85% off the cost of a battery system when it is installed with a solar system. This makes battery storage extremely attractive and it is why we are integrating battery storage into our product offering.”

Customers can obtain an incentive of up to 60% of the cost of a home battery system through Solar Alliance. As an Approved Developer, the company has been allocated up to 20% of the SGIP incentive funding for a given budget category in each statewide incentive step. The current stage of the incentive program consists of approximately $430 million in incentives. As an Approved Developer, Solar Alliance has the ability to offer an incentive package that many other competitors are not qualified to offer.

Under Calfornia’s incentive program, a home battery is eligible for a state program that will pay up to 60% of the installed cost of the system. If a home battery is installed at the same time as solar panels, the home battery is also eligible for the federal US Investment Tax Credit. Solar Alliance expects to announce a new relationship with a home battery provider in the near future.

"California is a leader in solar energy and this incentive program will make battery storage a reality for thousands of homeowners. Solar Alliance is uniquely positioned to provide homeowners with access to this battery storage incentive program and provide them with the energy independence that comes with battery backup," added Bak.