Benefits of Solar Energy
Solar energy has multiple advantages that will enhance your home for years to come.
- Reduced energy costs: Producing some or all of your own power will save you money on your electric bills long-term. Plus, some states provide net metering programs that allow you to sell your surplus energy back to the grid, generating additional credits toward your energy bill.
- Reduced carbon footprint: Utilizing solar is a surefire way to lower your carbon footprint and home fossil fuel dependency.
- Better energy independence: Solar energy can keep your home powered through blackouts and emergencies, giving you additional security. You can use your solar energy anytime with an optional battery backup system.
What Solar Incentives Are Available to Huntington Park Homeowners?
California homeowners who upgrade to solar could qualify for rebates, reimbursements, tax credits and special financing. Here are just a few of the local incentive programs.
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 Huntington Park
Choosing a company is the first step toward an effective and cost-efficient solar array. Consider all of these factors in your service provider search.
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 field experience, and pass written exams to earn a license. Look for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), among the solar industry's most respected trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Huntington Park
Your solar modules' style will influence how much electricity you can generate. Monocrystalline panels are among the highest quality and perform the best but cost the most. 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.
Additional accessories, such as electric vehicle (EV) chargers and battery storage, will increase your overall installation costs. However, they might make your solar system more efficient and convenient to use. Not every solar company provides these additional features, so look for a company that installs them if it's important for you.
If you're a resident of Huntington Park and are considering getting a five-kilowatt solar energy system, you could plan to spend 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 | $1,194 |
Solar Polycrystalline | $931 |
Thin-Film | $544 |
Solar Battery | $764 |
Solar Home EV Charger | $2,865 |
Financing Solar Energy in Huntington Park
Solar contractors use multiple different financing options to increase your savings and lower your costs. Though some providers offer unique payment plans, the most common are solar leases, solar loans, power purchase agreements (PPAs) and cash payments. We advise paying with cash or securing 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 have full ownership of your system and can apply for solar panel incentives to minimize your total costs. Solar loans are another good option if you don’t want to make a big initial investment. You can pay for your system in installments while still benefiting from energy bill savings and solar incentives. However, you’ll pay more in total due to accruing interest. Solar leases involve paying a set monthly rate to use rooftop panels. A PPA (Power Purchase Agreement) lets you pay a monthly rate determined by the energy you use, similar to an electric bill. We typically don’t recommend these two options because you won't own the solar system and are disqualified from using solar incentives. We suggest working with a contractor that offers multiple financing options. Ask each salesperson about what's available, and acquire more than one estimate for the best odds of keeping within your budget.
The table below lists the average payback periods for different capacities of solar systems in Huntington Park.
You are eligible for a 26% federal solar tax credit for new solar power systems until the year 2032. Municipal and state governments and utility companies might also offer rebates, discounts, and specialized financing options that could save you 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 Huntington Park
How much money could I save by going solar in Huntington Park?
How prevalent is solar energy in Huntington Park?
Should I anticipate a property value increase after switching to solar energy?
Is installing solar panels a fast job?
How do I care for my new solar system?
What is the average payback period for Huntington Park solar panels?
What's the difference between a PPA and a solar lease?
You don't own the panels with either option, though you can choose to "buy out" of the contract for a fee.
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