Benefits of Solar Energy
Solar energy has several advantages that will enhance your home for years to come.
- Reduced carbon footprint: Using clean solar power means you're less dependent on fossil fuels, which emit harmful greenhouse gasses.
- Better energy independence: Solar panel systems can keep your home functioning through emergencies and blackouts. You can use your solar energy anytime with optional battery storage.
- Smaller power bills: Sourcing some or all of your own electricity will spend less on electricity long-term. Plus, some states offer net metering programs that make it possible for you to sell your surplus energy back to the grid, generating additional credits toward your energy bill.
What Solar Incentives Are Available to Burbank Homeowners?
Governments and utility companies often reward homeowners for adopting solar. Here are some of the tax credits, rebates, or other programs you could qualify for.
Incentive Type: Property Tax Incentive
Website: boe.ca.govIncentive Amount:
100% of system value; 75% of system value exemption for dual-use equipment
Incentive Type: PACE Financing
Website: wrcog.usIncentive Amount:
Eligible products can be financed for up to 25 years, depending on the useful life of the eligible product.
Minimum financing: $5,000
The financing may not exceed fifteen percent (15%) of the market value of the property, up to the first seven hundred thousand dollars ($700,000) of the property’s market value, and ten percent (10%) of the remaining value of the Property above seven hundred thousand dollars ($700,000) minus any PACE assessment on the propertyThe total amount of any annual property taxes and assessments shall not exceed five percent (5%) of the property's fair market value, determined at the time program financing is approved.
Incentive Type: PACE Financing
Incentive Amount:
Locally determined
Incentive Type: Feed-in Tariff
Website: cpuc.ca.govIncentive Type: Feed-in Tariff
Website: ladwp.comIncentive Amount:
$0.17/kWh adjusted by a time of delivery multiplier
Base price will step down over time as certain MW goals are met
Incentive Type: Personal Tax Credit
Website: ecowatch.comIncentive Amount:
30% federal tax credit for systems placed in service after 12/31/2021 and before 01/01/2033. Good for: solar water heat, solar photovoltaics, biomass, geothermal heat pumps, wind (small), fuel cells using renewable fuels.
How To Choose the Best Solar Company in Burbank
The purchase price and efficacy of solar panels often depend on the solar company that mounted them. Consider each of these aspects in your business search.
Licensing and Training
California requires solar companies to hold licenses for each type of equipment they install, which can include solar boilers, photovoltaic (PV) systems, pool heaters, HVAC, and water heaters. Contractors must take a highly comprehensive educational series, gain four years of field experience, and pass written exams to secure a license. Look for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), one of the solar sector's most trusted trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Burbank
The type of solar panels you purchase decides how much energy you can produce. Monocrystalline panels and high-quality and cost more but give you the best performance. Polycrystalline panels produce less power, but they're worth it if you want a traditional panel style without the high cost. Thin-film panels aren't recommended for large residential installations, but they are ideal for small projects like converting RVs and sheds.
Additional accessories, such as battery storage and electric vehicle (EV) chargers, will increase your overall installation costs. However, they might make your solar system more efficient and convenient to use. Not every solar provider provides these additional features, so look for a company that installs them if it's important for you.
A majority of Burbank homeowners choose solar systems designed for five kilowatts (kW) of electrical capacity. These systems cost about $17,350 to install, considering both materials and labor. You can see more specific solar cost information in the table.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $1,194 |
| Solar Polycrystalline | $931 |
| Thin-Film | $544 |
| Solar Battery | $764 |
| Solar Home EV Charger | $2,865 |
Financing Solar Energy in Burbank
Choosing the right financing plan will influence your overall solar system cost and potential savings. Common payment options include leases, power purchase agreements, cash payments, and loans. Though it requires a large up-front payment, cash is the most economical choice because it doesn't accrue interest and qualifies you for incentives. Solar loans are the runner-up option. As with a car or home loan, you'll pay a monthly rate towards system ownership, including interest. You can still apply for cost-saving solar incentives, and depending on your lender, you could put as little as $0 down. Solar leases allow you to use your panels for a fixed monthly rate, while PPAs let you pay only for the energy you use, akin to an electric bill. Both options disqualify you for solar incentives and do not provide you system ownership. Solar experts generally don't recommend them, but they might be suitable in some cases. We advise working with a company that offers multiple financing options. Speak with each salesperson about what's available, and get more than one estimate for the best odds of keeping within your spending limits.
The table below lists the average payback periods for different capacities of solar systems in Burbank.
You are eligible for a 26% federal solar tax credit for new solar energy devices until the year 2032. City and state officials and utility companies might also offer discounts, rebates, and dedicated financing plans that could save you more.
| Solar System Capacity | Estimated Payback period |
|---|---|
| 1 kW | 1.4 years |
| 2 kW | 2.7 years |
| 5 kW | 6.8 years |
| 10 kW | 13.7 years |
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Frequently Asked Questions About Solar in Burbank
How much money could I save by going solar in Burbank?
Is solar energy widely available in Burbank?
Will solar panels raise my Burbank home price?
Is solar installation a quick job?
How do I care for my new solar system?
How long does it take to pay back a solar loan in Burbank?
How can I enhance my solar system's performance?
- optimize the panels' position with your solar installer
- regularly clean your solar panels
- upgrade to a more efficient inverter trim or cut down trees in the way of your panels
- use energy-efficient appliances
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