Benefits of Solar Energy
Solar energy provides multiple perks. Let's look at a few of them.
- Reduced energy costs: Sourcing some or all of your own power will spend less on electricity long-term. Plus, some states provide net metering programs that enable you to sell your extra energy back to the grid, generating extra credits toward your energy bill.
- Better energy independence: Solar panel systems with energy storage systems work through blackouts and emergencies, and you won't have to depend on the electrical grid for your safety and well-being.
- Reduced carbon footprint: Solar is the universe's most abundant clean energy source, meaning you can reduce or eliminate your home's dependence on non-renewable sources.
What Solar Incentives Are Available to Chino Hills Homeowners?
California homeowners who go solar could qualify for reimbursements, special financing, tax credits and rebates. Here are just a few of the local incentive offerings.
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: Rebate Program
Website: selfgenca.comIncentive Amount:
For projects 30 kW or larger, 50% of incentive will be received up-front; 50% will be received based on actual kWh production over the first 5 years. For projects under 30kW, 100% of the incentive will be paid up front.
Incentives will step down over time. See below for incentive amounts.
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: Rebate Program
Website: gosolarcalifornia.ca.govIncentive Amount:
Step 1 Incentive Rates (contact utility to determine current incentive levels):
Single Family Residential Incentives:
Systems that displace natural gas: $29.85 per estimated therm displaced
Systems that displace electricity or propane: Funding has been exhausted
Commercial/Multifamily Incentives:
Systems that displace natural gas: $20.19 per estimated therm displaced
Systems that displace electricity or propane: $0.42 per estimated kWh displaced *** Note, funding has been exhausted in this category for SCE and PG&E
Solar Pool heating: $5.00 per estimated therm displaced
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 Chino Hills
Choosing a company is the first step toward a well-oiled and cost-efficient solar array. Make your choice based on the following key factors.
Licensing and Training
California requires solar companies to hold licenses for each type of equipment they install, which can include solar HVAC, boilers, water heaters, photovoltaic (PV) systems, and pool heaters. Contractors must complete a highly comprehensive educational series, gain four years of experience as an apprentice or journeyman, and pass written exams to earn licensure. Look for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), among the solar sector's most credible trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Chino Hills
Different solar panel types look and perform differently. Monocrystalline panels offer the best energy production but cost more than other options and generally have the highest quality. Polycrystalline panels produce less power, but start at a more budget-friendly price point. Thin-film panels work well for small projects like RVs and sheds, but they're not ideal for larger installations due to their low performance.
If you'd like to charge an electric car or use your solar power in cloudy weather, you can pay extra for accessories. By choosing the right components, you can make your system more effective and convenient to use. Not every solar company offers these optional components, so look for a provider that sells them if it's essential for you.
Most Chino Hills homeowners choose solar systems designed for five kilowatts (kW) of electrical capacity. These systems cost about $17,350 to install, considering both parts and installation. You can find more specific solar cost information in the table.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $1,314 |
| Solar Polycrystalline | $1,025 |
| Thin-Film | $599 |
| Solar Battery | $841 |
| Solar Home EV Charger | $3,154 |
Financing Solar Energy in Chino Hills
There are many ways to pay for a solar energy system, and the right one will minimize your overhead. A few of the most common options include loans, power purchase agreements (PPAs), cash payments, and leases. Though it requires a large up-front payment, cash is the most cost-effective choice because it qualifies you for solar incentives and doesn't accrue interest. Solar loans are the runner-up option. As with a home or auto loan, you'll pay a monthly rate towards system ownership, including interest. You can still apply for money-saving solar incentives, and depending on your lender, you could put as little as $0 down. Solar leases involve paying a set monthly rate to use rooftop panels. A PPA (Power Purchase Agreement) lets you pay a monthly rate based only on the energy you use, as with an electric bill. We generally don’t recommend these two choices because you won't own the system and cannot use solar incentives. Ask each business you're evaluating about the payment options it offers. A consultant can help you determine the optimal option for your pocketbook.
The table below lists the average payback periods for different capacities of solar systems in Chino Hills.
You can claim a 26% federal solar tax credit from the IRS for new residential solar systems purchased before 2032. Additionally, utilities and local governments may have their own rebates and financing plans that could reduce your total cost even 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 Chino Hills
How much energy and money could I save per year by switching to solar?
How widespread is solar energy in Chino Hills?
Will solar panels increase my Chino Hills home worth?
How can I assess my home's solar suitability?
What's the average solar system size in Chino Hills?
What is the average payback period for Chino Hills solar panels?
What's the difference between a PPA and traditional financing?
In contrast, solar loans can come from installer, specialty lenders, the government and local banks. You'll need to pass a credit check to qualify for most of them. While the upfront costs are larger, and you'll be responsible for upkeep, you'll also have full ownership rights and can apply for many more incentives.
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