Benefits of Solar Energy
Solar energy comes with multiple perks. Here are some highlights.
- Reduced carbon footprint: The sun is one of the universe's most abundant clean energy sources, meaning you can minimize or conquer your home's dependence on non-renewable sources.
- Lower utility costs: Sourcing some or all of your own electricity will spend less on electricity long-term. Plus, some states provide net metering programs that enable you to sell your unused energy back to the grid, generating additional credits toward your energy bill.
- Better energy independence: Photovoltaic solar panel systems with energy storage systems operate through power outages and emergencies, and you won't have to rely on the power grid for your safety and comfort.
What Solar Incentives Are Available to Pico Rivera Homeowners?
The state of California offers numerous solar incentives to help minimize your solar system costs. Below is 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 Pico Rivera
Choosing a company is the first step toward an effective and valuable 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 boilers, HVAC, photovoltaic (PV) systems, water heaters, and pool heaters. Contractors must take a highly comprehensive educational series, gain four years of experience as an apprentice or journeyman, and pass written exams to earn a license. Solar companies can also pursue certificates from trade groups and standards organizations. The most respected ones in the industry come from the North American Board of Certified Energy Practitioners. Most company websites will prominently display earned credentials, but you should also ask your estimator for more information.
Cost of Solar Panels in Pico Rivera
The style of solar panels you purchase decides how much power you can produce. Monocrystalline panels and high-quality and cost more but give you the best performance. Polycrystalline panels work with a tried-and-true mechanism and cost less, but produce less power. Thin-film panels aren't recommended for large residential installations, but they are ideal for small projects like converting RVs and sheds.
If you'd like to charge an electric car or use your solar power in cloudy weather, you can pay extra for accessories. By selecting the right components, you can make your system more effective and convenient to use. Not every solar contractor includes these optional components, so look for a provider that sells them if it's essential for you.
If you're a resident of Pico Rivera and want a five-kilowatt solar energy system, you could expect to pay about $17,350 for materials and labor. Find 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 Pico Rivera
Solar providers 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 loans, power purchase agreements (PPAs), solar leases and cash payments. 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 next best option. As with a home or auto loan, you'll pay a monthly rate towards system ownership, including interest. You can still apply for cost-saving solar incentives, and depending on your lender, you could put as little as $0 down. Solar leases allow you to use your panels for a set monthly rate, while PPAs let you pay only for the energy you use, akin to an electric bill. Both options disqualify you for solar incentives and don't grant you system ownership. Solar experts generally don't recommend them, but they might be suitable in some cases. Ask each company you're evaluating about the financing options it offers. A representative can help you determine the best option for your budget.
The table below lists the average payback periods for different capacities of solar systems in Pico Rivera.
You are eligible for a 26% federal solar tax credit for new solar energy equipment until the year 2032. City and state officials and utility companies might also offer discounts, rebates, and dedicated financing plans 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 Pico Rivera
How much money could I save by going solar in Pico Rivera?
Is solar energy easily accessible in Pico Rivera?
Will solar panels raise my Pico Rivera home price?
What upkeep do my solar panels need, and how frequently do they need it?
What size should my new Pico Rivera solar system be?
How long does it take to pay back a solar loan in Pico Rivera?
What are the signs I shouldn't use a particular solar company for my job?
- High-pressure sales tactics
- Being evasive about cost, references, warranties and credentials and training
- Limited or no customization
- Superficial, rushed site evaluation
- No references or testimonials
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