Benefits of Solar Energy
Solar energy provides multiple advantages. Here are some highlights.
- Better energy independence: Solar energy can keep your home running through emergencies and blackouts. You can use your solar energy anytime with an optional battery storage system.
- Lowered energy bills: You can dodge the premium cost of grid-tied power by creating some electricity right where you use it. Plus, many states provide net metering which can allow you to sell your unused energy back to credit part of your bill.
- Reduced carbon footprint: Solar is the universe's most abundant clean energy source, meaning you can lower or beat your home's dependence on non-renewable sources.
What Solar Incentives Are Available to Paramount Homeowners?
California homeowners who go solar could qualify for tax credits, reimbursements, special financing and rebates. Here are just a few of the region's 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 Paramount
The purchase price and efficiency of solar panels often hinge on the provider that installed them. Make your choice based on the following important considerations.
Licensing and Training
California requires solar companies to hold licenses for each type of equipment they install, which can include solar boilers, pool heaters, water heaters, photovoltaic (PV) systems, and HVAC. Contractors must complete 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 pursue certifications from standards organizations and trade groups. The top ones in the industry come from the NABCEP. Most company websites will prominently display earned credentials, but you should also ask your estimator for more information.
Cost of Solar Panels in Paramount
Different solar panel types look and perform differently. Monocrystalline panels cost more than other options, but they generate the most power and generally have the highest quality. Polycrystalline panels produce less power, but start at a more budget-friendly price point. Thin-film panels work well for small projects like RVs and sheds, but they're not ideal for larger installations due to their low performance.
You can also add electric car (EV) chargers and battery backup systems. These will increase your total installation cost, but they can boost your solar system's efficiency. Not all solar contractors offer these extras, so look for a contractor that installs them if it's crucial for you.
Generally speaking, it costs about $17,350 for a five-kilowatt solar array in Paramount. This table displays more specific pricing information for different solar panel types and system components in your area.
| 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 Paramount
Choosing the correct financing plan will affect your overall solar system cost and expected savings. Common payment options include leases, power purchase agreements, cash payments, and loans. Though it involves a large up-front payment, cash is the most affordable choice because it doesn't accrue interest and qualifies you for incentives. Solar loans are the second most effective option. As with a car loan or mortgage, you'll pay a monthly rate towards system ownership, including interest. You can still apply for valuable solar incentives, and depending on your lender, you could put as little as $0 down. Solar leases allow you to pay a monthly fee to rent your panels, while a power purchase agreement lets you pay a fluctuating rate based on only the energy you use. We generally advise against these options since you will not have ownership of your system and are disqualified from solar incentives, but they might be suitable in particular circumstances. We advise working with a contractor that offers multiple financing options. Talk to each salesperson about what's available, and secure 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 Paramount.
A 26% federal solar tax credit applies to recently-purchased solar equipment purchased through 2032. Further incentives may be available through local governments, usually in the form of rebates and special financing programs.
| 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 Paramount
How much money could I save by going solar in Paramount?
Is solar energy widely available in Paramount?
Will solar panels increase my Paramount home value?
How can I evaluate my home's solar suitability?
What upkeep do my solar panels need, and how frequently do they need it?
What size should my new Paramount solar system be?
What are some "red flags" to watch for as I research companies?
- Aggressive sales pitch
- Not being straightforward about warranties, references, credentials and training and cost
- Limited or no customization
- Superficial, rushed site evaluation
- No references or testimonials
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