Benefits of Solar Energy
Solar energy provides multiple advantages that will enhance your home for years to come.
- Reduced carbon footprint: Utilizing solar is a surefire way to decrease your carbon footprint and home fossil fuel dependency.
- Reduced energy costs: Sourcing some or all of your own power will cut power costs long-term. Plus, some states provide net metering programs that allow you to sell your extra energy back to the grid, generating additional credits toward your energy bill.
- Better energy independence: Solar panel systems with energy storage systems operate through blackouts and emergencies, and you won't have to depend on your power company for your safety and well-being.
What Solar Incentives Are Available to Inglewood Homeowners?
Governments and utilities often incentivize homeowners for embracing solar. Here are some of the rebates, tax credits 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: 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 Inglewood
The cost and efficiency of solar panels often depend on which company mounted them. Consider each of these aspects 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 boilers, pool heaters, photovoltaic (PV) systems, HVAC, and water heaters. Contractors must take 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 certifications. Two of the most recognized are the Solar Heating Installer and PV Installation Professional certificates, backed 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 Inglewood
Your solar modules' type will affect 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 are excellent for non-traditional roof shapes and cost the least, but don't work well for large residential installations.
If you'd like to charge an electric car or use your solar power in dark weather, you can pay extra for accessories. By selecting the right components, you can make your system more efficient and convenient to use. Not every solar company offers these additional features, so look for a company that installs them if it's essential for you.
You can plan to spend about $17,350 on average for a five-kilowatt solar energy system in Inglewood. Use the table in this section to get an idea of how much Inglewood solar companies might quote for your specific solar system's price.
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 Inglewood
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 power purchase agreements (PPAs), solar loans, cash payments and solar leases. We advise paying with cash or securing a solar loan for the highest 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 good option if you don’t want to make a big initial investment. You can pay for your system in monthly installments while still enjoying energy bill savings and solar incentives. However, you’ll spend more in total due to accruing interest. Solar leases allow you to rent your panels for a fixed monthly rate, while PPAs let you pay just for the energy you use, similar to 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. Ask each business you're evaluating about the payment plans it offers. A consultant can help you determine the best option for your financial situation.
The table below lists the average payback periods for different capacities of solar systems in Inglewood.
You are eligible for a 26% federal solar tax credit for new solar energy devices until the year 2032. City and state officials and utility companies might also offer discounts, rebates, and unique financing solutions 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 |
Ready to Get a Quote on Your Solar Project?
Please enter a valid 5-digit zip code!
Frequently Asked Questions About Solar in Inglewood
How much energy and money could I save per year by switching to solar?
Is solar energy common in Inglewood?
Should I anticipate a boost in my property value after installing solar panels?
How long is a Inglewood solar panel's average lifespan?
Is solar installation a quick job?
What's the average solar system size in Inglewood?
What are some "red flags" to watch for as I research companies?
- Aggressive sales pitch
- Being evasive about warranties, references, cost and credentials and training
- "One-size-fits-all" approach
- Rushing through the site assessment
- More mixed or negative reviews than positive ones
How many estimates should I get before making a final solar company decision?
To share feedback or ask a question about this article, send a note to our Reviews Team at reviewsteam@thisoldhousereviews.com.