Benefits of Solar Energy
Solar energy has multiple advantages that will enhance your home for years to come.
- Reduced carbon footprint: Embracing solar is a surefire way to reduce your carbon footprint and home fossil fuel dependency.
- Lowered energy bills: You can dodge the expensive cost of grid-tied power by generating 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: Adding a battery backup or storage system lets you have dependable energy during storms and grid outages.
What Solar Incentives Are Available to San Buenaventura Homeowners?
California homeowners who go solar could qualify for rebates, tax credits, special financing and reimbursements. Here are just a few of the local 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 San Buenaventura
The cost and efficacy of solar panels often depend on which company installed them. Make your choice based on the following vital factors.
Licensing and Training
California requires solar companies to hold licenses for each type of equipment they install, which can include solar HVAC, pool heaters, photovoltaic (PV) systems, boilers, and water heaters. Contractors must complete a highly comprehensive educational series, gain four years of field experience, and pass written exams to earn a license. You should also visit a company's website to learn about its private accreditations. Two of the most respected are the PV Installation Professional and Solar Heating Installer certificates, granted 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 San Buenaventura
The kind of solar panels you select decides how much power you can generate. 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.
Additional components, such as battery storage and electric vehicle (EV) chargers, will add to your overall installation costs. However, they might make your solar system more efficient and convenient to use. Not all solar companies provide these additional features, so look for a company that sells them if it's crucial for you.
Generally speaking, it will cost about $17,350 for a five-kilowatt solar array in San Buenaventura. This table displays more specific prices for different solar panel types and system components in your area.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $1,165 |
| Solar Polycrystalline | $909 |
| Thin-Film | $531 |
| Solar Battery | $746 |
| Solar Home EV Charger | $2,797 |
Financing Solar Energy in San Buenaventura
There are many ways to pay for a new solar system, and the right one will reduce your expenses. A few of the most common options include power purchase agreements (PPAs), loans, cash payments, and leases. Though it requires a large up-front payment, cash is the most economical choice because it qualifies you for solar incentives and doesn't accrue interest. Solar loans are the runner-up option. As with a home or auto loan, 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 rate to rent your panels, while a power purchase agreement lets you pay a variable rate based on only the energy you use. We generally don't recommend these options since you won't own your system and are disqualified from solar incentives, but they might be suitable in specific circumstances. Ask each company you're vetting about the payment plans it offers. A team member can help you determine the optimal option for your budget.
The table below lists the average payback periods for different capacities of solar systems in San Buenaventura.
You are eligible for a 26% federal solar tax credit for new solar energy devices until the year 2032. City and state officials and utility companies might also offer rebates, discounts, and unique financing solutions 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 San Buenaventura
How much energy and money could I save per year by switching to solar?
How widespread is solar energy in San Buenaventura?
Will a solar PV system boost my San Buenaventura home value?
How long does the solar installation process require?
How do I care for my new solar system?
What size should my new San Buenaventura solar system be?
How can I enhance my solar array's 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 San Buenaventura solar companies?
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