Benefits of Solar Energy
Solar energy provides numerous advantages that will enhance your home for years to come.
- Reduced carbon footprint: Using clean solar power means you're less dependent on fossil fuels, which emit harmful greenhouse gasses.
- Lowered energy bills: You can dodge the expensive cost of grid-tied power by producing some electricity at home. Plus, many states offer net metering which can allow you to sell your unused energy back to credit part of your bill.
- Better energy independence: Solar energy can keep your home running through emergencies and blackouts, giving you additional security. You can use your solar energy anytime with an optional battery storage system.
What Solar Incentives Are Available to Murrieta Homeowners?
California's public agencies and power companies offer several solar incentives to help lower your solar system costs. Here's a breakdown of relevant 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 Murrieta
Choosing a company is the first step toward an effective and cost-efficient solar energy system. Make your choice based on the following crucial aspects.
Licensing and Training
California requires solar companies to hold licenses for each type of equipment they install, which can include solar pool heaters, HVAC, water heaters, boilers, and photovoltaic (PV) systems. Contractors must complete a highly comprehensive educational series, gain four years of field experience, and pass written exams to secure a license. You should also visit a company's website to learn about its private accreditations. Two of the most prestigious are the PV Installation Professional and Solar Heating Installer certificates, awarded 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 Murrieta
The kind of solar panels you choose determines how much power you can generate. Monocrystalline panels and high-quality and give you the best performance but cost more upfront. Polycrystalline panels work with a tried-and-true mechanism and cost less, but produce less power. Thin-film panels aren't meant for large home installations, but they're excellent for small projects like sheds and RVs.
Additional accessories, 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 provides these optional components, so look for a contractor that installs them if it's important for you.
You can plan to spend about $17,350 on average for a five-kilowatt solar energy system in Murrieta. Use the table in this section to get an idea of how much Murrieta solar companies might quote for your specific solar system's price.
| 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 Murrieta
There are many ways to pay for new solar panels, and the right one will reduce your expenses. A few of the most common options include loans, cash payments, leases, and power purchase agreements (PPAs). Most solar experts recommend a cash payment or using a solar loan. Cash payments demand a large up-front sum, but they help you avoid 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 a home or car loan, you'll pay a set monthly rate with potentially $0 down. Solar leases allow you to pay a monthly rate to rent your panels, while a PPA lets you pay a fluctuating rate based on only the energy you use. We generally advise against these options since you won't own your system and are disqualified from solar incentives, but they might be appropriate in certain circumstances. We suggest working with a company that offers multiple financing options. Ask each representative about what's available, and secure more than one estimate for the best odds of staying within your budget.
The table below lists the average payback periods for different capacities of solar systems in Murrieta.
The IRS allows you to claim a 26% federal solar tax credit on total system costs, so long as you purchase it before 2032. City and state governments and utilities might also offer their own incentives, financing programs, and rebates 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 Murrieta
How much energy and money could I save per year by switching to solar?
Is solar energy widely available in Murrieta?
Will solar panels raise my Murrieta home worth?
Could I still use solar power if I live in a dark, wooded, or rainy area?
How do I care for my new solar system?
How long does it take to pay back a solar loan in Murrieta?
What's the difference between a PPA and traditional financing?
In contrast, solar loans can come from installer, specialty lenders, local banks and the government. 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 upkeep, you'll also have complete ownership and can apply for many more financial rewards.
How many estimates should I get before making a final solar company decision?
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