Benefits of Solar Energy
Solar energy comes with multiple benefits. Here are some highlights.
- Better energy independence: Solar panel systems can keep your home running through emergencies and blackouts, giving you additional security. You can use your solar energy anytime with an optional battery backup system.
- Lowered energy bills: You can skip the expensive cost of grid-tied power by creating some electricity at home. Plus, many states offer net metering which can allow you to sell your unused energy back to help pay for your energy bill.
- Reduced carbon footprint: Embracing solar is a surefire way to decrease your carbon footprint and home fossil fuel dependency.
What Solar Incentives Are Available to Poway Homeowners?
California homeowners who upgrade to solar could qualify for rebates, reimbursements, special financing and tax credits. 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 Poway
The price and efficacy of solar panels often rely on which company mounted them. Here are some essential aspects to keep in mind while searching for a solar company.
Licensing and Training
California requires solar companies to hold licenses for each type of equipment they install, which can include solar photovoltaic (PV) systems, pool heaters, boilers, water heaters, and HVAC. Contractors must complete a highly comprehensive educational series, gain four years of field experience, and pass written exams to earn licensure. Look for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), among the solar industry's most respected trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Poway
Your solar panels' style will impact how much power 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.
You can also add electric car (EV) chargers and battery backup systems. These will increase your total installation cost, but they can maximize your solar system's performance. Not all solar providers include these additional features, so look for a company 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 Poway. Check the table in this section to get an idea of how much Poway solar companies might quote for your specific solar system's price.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,226 |
Solar Polycrystalline | $956 |
Thin-Film | $559 |
Solar Battery | $784 |
Solar Home EV Charger | $2,942 |
Financing Solar Energy in Poway
There are numerous ways to pay for a solar energy system, and the right one will lower your costs. A few of the most common options include power purchase agreements (PPAs), leases, cash payments, and loans. We suggest paying with cash or securing a solar loan for the best 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 installments while still benefiting from energy bill savings and solar incentives. However, you’ll spend more in total due to accruing interest. Solar leases involve paying a set monthly rate to use rooftop panels. A PPA (Power Purchase Agreement) allows you to pay a monthly rate based only on the energy you use, akin to an electric bill. We usually don’t recommend these two choices because you won't own the panels and cannot use solar incentives. Look for providers that offer two or more payment plans to find the right fit for your pocket.
The table below lists the average payback periods for different capacities of solar systems in Poway.
The IRS allows you to claim a 26% federal tax credit for solar panels on the full cost of the solar system, so long as you purchase it before 2032. Local governments and utilities might also offer their own incentives, rebates, and financing programs 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 Poway
How much money could I save by going solar in Poway?
How popular is solar energy in Poway?
Should I expect a boost in my property value after installing solar panels?
What if I live in a rainy or gloomy
What size should my new Poway solar system be?
How long does it take to pay back a solar loan in Poway?
How can I enhance my solar panels' performance?
- optimize the panels' position with your solar installer
- regularly clean your solar panels
- upgrade to a more efficient inverter trim or cut down trees in the way of your panels
- use energy-efficient appliances
Should I get quotes from multiple Poway solar companies?
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