Benefits of Solar Energy
Solar energy offers multiple perks. Let's look at a few of them.
- Reduced carbon footprint: The sun is one of the universe's most abundant clean energy sources, meaning you can lower or beat your home's dependence on non-renewable sources.
- Lowered energy bills: You can skip the expensive cost of grid-tied power by producing some electricity at home. Plus, many states offer net metering which can allow you to sell your unused energy back to credit part of your bill.
- Better energy independence: Adding a battery storage system lets you have trustworthy energy during storms and grid outages.
What Solar Incentives Are Available to Culver City Homeowners?
Governments and utilities often incentivize homeowners for going 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 Culver City
The more informed your provider search is, the better your solar panels will ultimately function. Consider all of these criteria 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 photovoltaic (PV) systems, water heaters, boilers, HVAC, and pool heaters. Contractors must take a highly comprehensive educational series, gain four years of experience as an apprentice or journeyman, and pass written exams to earn a license. You should also visit a company's website to learn about its private credentials. Two of the most recognized are the Solar Heating Installer and PV Installation Professional certificates, awarded by the North American Board of Certified Energy Practitioners (NABCEP). Some companies don't publish this information online, so you should also ask your estimator about them.
Cost of Solar Panels in Culver City
Your photovoltaic panels' style will affect how much energy you can generate. Monocrystalline panels are among the highest quality and cost the most but perform the best. Polycrystalline panels offer you a budget panel with a traditional design, but at the cost of less power generation. Thin-film panels are excellent for non-traditional roof shapes and cost the least, but don't work well for large residential installations.
You can also add electric vehicle (EV) chargers and battery backup systems. These will increase your total installation cost, but they can boost your solar system's efficiency. Not every solar company provides these additional features, so look for a provider that installs them if it's crucial for you.
If you're a resident of Culver City and are considering getting a five-kilowatt solar energy system, you could plan to spend about $17,350 for parts and installation. Find more information on specific component and solar panel costs 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 Culver City
Solar providers use multiple different financing options to lower your costs and increase your savings. Though some providers offer unique payment plans, the most common are solar loans, cash payments, solar leases and power purchase agreements (PPAs). Though it requires a large up-front payment, cash is the most affordable choice because it qualifies you for solar incentives and doesn't accrue interest. Solar loans are the next best 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) lets you pay a monthly rate based only on the energy you use, similar to an electric bill. We generally don’t recommend these two options because you won't own the solar system and are disqualified from using solar incentives. Look for installers that offer several payment plans to find the right fit for your wallet.
The table below lists the average payback periods for different capacities of solar systems in Culver City.
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 Culver City
How much money could I save by going solar in Culver City?
How common is solar energy in Culver City?
Will a solar PV system boost my Culver City home worth?
What if I live in a heavily-wooded or gloomy
How long does a standard solar system last?
Is solar panel installation a fast job?
What is "net metering," and how does it work?
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