Going Solar: It Has Never Been Easier
Paying for your Solar Power System in Orange County
California solar incentives and tax credits have put solar power within range for homeowners and businesses. With California’s new laws requiring solar on new construction, and the goal of phasing into renewable energy by 2045, the cost of solar installations are dropping in Orange County and all across the state and is significantly lower than the rest of the country. Homeowners are cashing in on low prices, rebates, and incentives and reducing their carbon footprint.
Yorba Linda sees the lowest solar prices in the country.
Bill, a Yorba Linda homeowner, recently installed his solar system using a PPA agreement. With fixed monthly payments on a 20-year contract, he was able to reduce his monthly bill considerably with a balanced billing plan, and receive credits for unused power at the end of the year. Bill is also passionate about saving the planet.
Here are some ways you can finance your solar power:
Net Metering is an incentive system in which solar panel generators connect to a public-utility power grid. Meters measure the power generated and how much energy you use. The surplus power generated is transferred to the power grid. When your system produces more power than you use in a month, your utility provider credits your bill for the number of kilowatt-hours that went back to the grid. So you pay for the electricity you use, minus the excess electricity generated by your solar panels.
If you want to buy your solar panels, a solar loan is a good option. These loans are similar to any other home improvement loans, and you can find them at banks or solar panel manufacturers. Plus, you can take advantage of the Federal Solar Tax Credit (ITC) and other tax deductions where applicable.
Power Purchase Agreement (PPA) and Solar Leases
A PPA or lease gives you all the benefits of using a solar panel system without purchasing it. The PPA provider installs solar panels on your property in exchange for paying them a reduced rate for solar the electricity for a set term, usually 20 years. There is a low or no upfront cost. The provider owns, controls and maintains the system, and receives the rebates and Federal Tax Credits for the installation.
Property Assessed Clean Energy (PACE)
You can finance your solar energy installation with a PACE program loan available to homeowners through an authorized PACE lender. PACE financing is affixed to the property and paid through the annual property tax bill. The tax rate determines the interest rate. If you sell your property before paying off the loan, the balance transfers to the new owner.
Home Energy Renovation Opportunity (HERO)
The HERO program is a residential Property Assessed Clean Energy (PACE) program for home renovation loans. HERO finances home improvements for solar as well as other energy efficiency residential projects.
You can lower your home’s energy expenses as well as increase the value of your property while reducing your carbon footprint.
Contact Semper Solaris for more information on financing and schedule an evaluation for your home or business.