Benefits of Solar Energy
Solar energy provides numerous advantages that will enhance your home for years to come.
- Better energy independence: Solar panel systems with battery storage systems function through blackouts and emergencies, and you won't have to depend on the electrical grid for your safety and comfort.
- Reduced carbon footprint: Embracing solar is a surefire way to decrease your carbon footprint and home fossil fuel dependency.
- Lowered energy bills: You can avoid the premium cost of grid-tied power by generating some electricity right where you use it. Plus, many states offer net metering which can allow you to sell your unused energy back to credit part of your bill.
What Solar Incentives Are Available to Corona Homeowners?
The state of California offers a variety of solar incentives to help offset your solar system costs. Here is a breakdown of applicable solar programs where you live.
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 Corona
The price and efficacy of solar panels often hinge on the solar company that installed them. Here are some important factors to keep in mind while shopping for a solar specialist.
Licensing and Training
California requires solar companies to hold licenses for each type of equipment they install, which can include solar boilers, water heaters, HVAC, pool heaters, and photovoltaic (PV) systems. Contractors must complete a highly comprehensive educational series, gain four years of experience as an apprentice or journeyman, and pass written exams to earn a license. Solar providers can also pursue certifications from standards organizations and trade groups. The most recognized ones in the industry come from the NABCEP. Most company websites will prominently display earned credentials, but you should also ask your estimator for more information.
Cost of Solar Panels in Corona
The style of solar panels you select determines how much power you can produce. Monocrystalline panels and high-quality and give you the best performance but cost more upfront. 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 meant for large home installations, but they're excellent for small projects like sheds and RVs.
Additional accessories, such as battery storage and electric vehicle (EV) chargers, will raise your overall installation costs. However, they might make your solar system more efficient and convenient to use. Not all solar contractors include these extras, so look for a provider that sells them if it's crucial for you.
You can plan to spend about $17,350 on average for a five-kilowatt solar energy system in Corona. Use the table in this section to get an idea of how much Corona solar companies might quote for your specific solar system's price.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $1,188 |
| Solar Polycrystalline | $927 |
| Thin-Film | $542 |
| Solar Battery | $760 |
| Solar Home EV Charger | $2,852 |
Financing Solar Energy in Corona
There are various ways to pay for a new solar system, and the right one will help you decrease overhead. A few of the most common options include cash payments, leases, power purchase agreements (PPAs), and loans. Though it involves a large up-front payment, cash is the most affordable choice because it doesn't accrue interest and qualifies you for incentives. 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 valuable 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) allows you to pay a monthly rate based only on the energy you use, like an electric bill. We usually don’t recommend these two options because you won't own the system and cannot use solar incentives. Look for contractors that offer several payment plans to find the right fit for your pocket.
The table below lists the average payback periods for different capacities of solar systems in Corona.
A 26% federal solar tax credit applies to new home solar systems purchased through 2032. Extra incentives may be available through city and state governments, usually in the form of rebates and special financing programs.
| 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 Corona
How much money could I save by going solar in Corona?
How widespread is solar energy in Corona?
Will solar energy systems raise my Corona home value?
What if I live in a gloomy or rainy
What is a Corona solar panel's average lifespan?
How long does the solar panel installation process last?
What are the signs I shouldn't use a particular solar company for my job?
- Pushy sales approach
- Dodging questions about warranties, cost, credentials and training and references
- Limited or no customization
- Not thoroughly inspecting your site
- More mixed or negative reviews than positive ones
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