Benefits of Solar Energy
Solar energy has several advantages that will enhance your home for years to come.
- Lowered energy bills: With solar panels, you create power without paying the tacked-on costs of grid-tied power. You can eliminate your bills completely if you go off-grid. Plus, a significant number of states have adopted net metering, which permit you to earn money by selling your unused energy back to the grid.
- Better energy independence: Photovoltaic solar panel systems with energy storage systems function through power outages 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.
What Solar Incentives Are Available to Hemet Homeowners?
California homeowners who go solar could qualify for reimbursements, tax credits, special financing 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 Hemet
Choosing a company is the first step toward an effective and valuable solar energy system. Here are some crucial criteria to remember 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 take a highly comprehensive educational series, gain four years of experience as an apprentice or journeyman, and pass written exams to earn licensure. Solar installers can also obtain accreditations from trade groups and standards organizations. The most respected ones in the industry come from the North American Board of Certified Energy Practitioners. Most company websites will prominently display earned credentials, but you should also ask your estimator for more information.
Cost of Solar Panels in Hemet
Your photovoltaic panels' model will affect how much power 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 have a low cost and are excellent for non-traditional roofs, but aren't recommended for large home installations.
If you want to charge an electric vehicle (EV) or use your solar power in cloudy weather, you can pay extra for accessories. By selecting the right components, you can make your system more effective and user-friendly. Not every solar provider offers these add-ons, so look for a contractor that installs them if it's crucial for you.
Most Hemet homeowners opt for solar systems sized for five kilowatts (kW) of electrical capacity. These systems run about $17,350 to set up, considering both parts and installation. You can see more specific solar cost information in the table.
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 Hemet
Choosing the right financing plan will affect your overall solar system cost and expected savings. Common payment options include loans, cash payments, power purchase agreements, and leases. We advise making a cash payment or using a solar loan for the best return on investment (ROI). Cash payments require a hefty sum up-front, but you’ll pay the least long-term by avoiding interest. You’ll also own your system and can apply for solar panel incentives to reduce your total costs. Solar loans are another solid option if you don’t want to make a big initial investment. You can pay for your system in installments while still enjoying energy bill savings and solar incentives. However, you’ll spend more in total due to accruing interest. Solar leases involve paying a set monthly rate to use rooftop panels. A PPA (Power Purchase Agreement) enables you to pay a monthly rate based only on the energy you use, as with an electric bill. We usually don’t recommend these two options because you won't own the system and cannot use solar incentives. We recommend working with a contractor that offers multiple financing options. Ask each salesperson about what's available, and obtain more than one estimate for the best odds of staying within your spending limits.
The table below lists the average payback periods for different capacities of solar systems in Hemet.
You can claim a 26% federal solar tax credit from the IRS for new residential solar systems purchased before 2032. Additionally, local governments and utilities 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 |
Ready to Get a Quote on Your Solar Project?
Please enter a valid 5-digit zip code!
Frequently Asked Questions About Solar in Hemet
How much energy and money could I save per year by switching to solar?
Is solar energy readily available in Hemet?
Will solar energy systems raise my Hemet home worth?
How can I evaluate my property's solar viability?
What size should my new Hemet solar system be?
What is the average payback period for Hemet solar panels?
What is "net metering," and how does it work?
How are a solar lease and PPA different?
If you choose a lease, you'll make fixed monthly payments.
With both leases and PPAs, you do not own your panels and lose eligibility for some incentives. Further, you'll have to "buy out" or transfer the contract if you sell your home during the term.
To share feedback or ask a question about this article, send a note to our Reviews Team at reviewsteam@thisoldhousereviews.com.