Benefits of Solar Energy
Solar energy comes with multiple perks. Here are some highlights.
- Lowered energy bills: Solar panels allow you to generate your own energy to power your home, minimizing your periodic electricity costs. You can eliminate your bills completely if you go off-grid. Plus, a significant amount of states have adopted net metering, which permit you to earn money by selling your unused energy back to the grid.
- Better energy independence: Solar panel systems with battery backups and storage systems operate through blackouts and emergencies, and you won't have to rely on the electrical grid for your safety and comfort.
- Reduced carbon footprint: Solar is one of the universe's most abundant clean energy sources, meaning you can lower or beat your home's dependence on "traditional" sources.
What Solar Incentives Are Available to Escondido Homeowners?
The state of California offers numerous solar incentives to help cut 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 Escondido
The more thorough your company investigation is, the better your solar installation will ultimately operate. Here are some crucial criteria to remember while searching for a solar provider.
Licensing and Training
California requires solar companies to hold licenses for each type of equipment they install, which can include solar HVAC, pool heaters, boilers, photovoltaic (PV) systems, and water heaters. Contractors must complete a highly comprehensive educational series, gain four years of experience as an apprentice or journeyman, and pass written exams to secure a license. You should also visit a company's website to learn about its private credentials. Two of the most prestigious are the PV Installation Professional and Solar Heating Installer certificates, granted 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 Escondido
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 provide a lower price point but produce less power. 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.
Additional components, 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 provide these extras, so look for a contractor that sells them if it's essential for you.
If you're a resident of Escondido and want a five-kilowatt solar energy system, you could expect to pay about $17,350 for materials and labor. See more information on specific component and solar panel costs in the table.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $1,226 |
| Solar Polycrystalline | $956 |
| Thin-Film | $559 |
| Solar Battery | $784 |
| Solar Home EV Charger | $2,942 |
Financing Solar Energy in Escondido
Solar installers offer multiple different financing options to lower your costs and increase your savings. Though some providers offer unique payment plans, the most common are cash payments, power purchase agreements (PPAs), solar leases and solar loans. Most solar experts recommend a cash payment or using a solar loan. Cash payments demand a large up-front sum, but they save you from paying interest, grant you system ownership, and qualify you for cost-saving solar incentives. Solar loans have the same benefits, though you'll pay more in total due to interest and fees. Much like an auto or home loan, you'll pay a set monthly rate with as little as $0 down. Solar leases let you rent your panels for a fixed monthly rate, while PPAs let you pay just for the energy you use, much like 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. Look for providers that offer multiple 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 Escondido.
The IRS allows you to claim a 26% federal solar tax credit on your new solar panels, so long as you purchase it before 2032. City and state governments and utilities might also offer their own incentives, rebates, and financing programs that could save you more money.
| 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 Escondido
How much money could I save by going solar in Escondido?
Is solar energy readily available in Escondido?
Will a solar PV system boost my Escondido home value?
What if I live in a heavily-wooded or rainy
What is a Escondido solar panel's average lifespan?
How do I care for my new solar system?
What's the difference between a PPA and traditional financing?
In contrast, solar loans can come from the government, installer, local banks and specialty lenders. You'll need to pass a credit check to qualify for most of them. While the upfront costs are greater, and you'll be responsible for maintenance, you'll also have complete ownership and can apply for many more incentives.
Should I get quotes from multiple Escondido solar companies?
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