Benefits of Solar Energy
Solar energy provides multiple advantages that will enhance your home for years to come.
- Better energy independence: Solar energy can keep your home powered through emergencies and blackouts, giving you additional security. You can use your solar energy anytime with an optional battery backup system.
- Reduced carbon footprint: Using solar is a surefire way to decrease your carbon footprint and home fossil fuel dependency.
- Lowered energy bills: Solar panels allow you to generate your own energy to power your home, minimizing your monthly electricity costs. Going off-grid can eliminate your bills completely. Plus, a significant number of states offer net metering, which permit you to earn money by selling your unused energy back to the grid.
What Solar Incentives Are Available to Laguna Niguel Homeowners?
Governments and power companies often incentivize homeowners for going 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 Laguna Niguel
The more comprehensive your company research is, the better your solar system will ultimately perform. Here are some crucial criteria to bear in mind while searching 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 photovoltaic (PV) systems, water heaters, HVAC, boilers, and pool heaters. Contractors must complete a highly comprehensive educational series, gain four years of experience as an apprentice or journeyman, and pass written exams to earn a license. Check a company's website for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), one of the solar sector's most credible trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Laguna Niguel
Your photovoltaic panels' model will impact how much power you can produce. Monocrystalline panels are among the highest quality and cost the most but perform the best. Polycrystalline panels generate less, but they're a great traditional option for low budgets. Thin-film panels have a low cost and are excellent for non-traditional roofs, but aren't recommended for large home installations.
Additional system add-ons, such as battery storage and electric vehicle (EV) chargers, will increase your overall installation costs. However, they might make your solar system more efficient and convenient to use. Not every solar contractor offers these additional features, so look for a company that installs them if it's essential for you.
A majority of Laguna Niguel homeowners opt for solar systems rated for five kilowatts (kW) of electrical capacity. These systems cost about $17,350 to set up, considering both materials and labor. You can see more specific solar cost information in the table.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $1,235 |
| Solar Polycrystalline | $963 |
| Thin-Film | $563 |
| Solar Battery | $790 |
| Solar Home EV Charger | $2,964 |
Financing Solar Energy in Laguna Niguel
Solar contractors offer multiple different financing options to increase your savings and lower your costs. Though some providers offer unique payment plans, the most common are solar loans, cash payments, solar leases and power purchase agreements (PPAs). Most solar experts recommend paying cash 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. Similar to a car or home loan, you'll pay a set monthly rate with potentially $0 down. Solar leases allow you to rent your panels for a set monthly rate, while PPAs let you pay just for the energy you use, akin 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. We suggest working with a provider that offers multiple financing options. Talk to each consultant about what's available, and acquire more than one estimate for the best odds of staying within your financial plan.
The table below lists the average payback periods for different capacities of solar systems in Laguna Niguel.
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 |
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Frequently Asked Questions About Solar in Laguna Niguel
How much money could I save by going solar in Laguna Niguel?
How popular is solar energy in Laguna Niguel?
Should I anticipate a boost in my property value after going solar?
What if I live in a dark or gloomy
How can I determine my home's solar viability?
Is solar panel installation a quick job?
What are some "red flags" to watch for as I research companies?
- Pushy sales approach
- Being evasive about cost, references, credentials and training and warranties
- "One-size-fits-all" approach
- Not thoroughly inspecting your site
- No business filing with your local secretary of state
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