How to Switch to Solar Power?
Get a free quote from our experts. Learn what system configuration suits you the best and just how much money you can save!
Sit back while we take care of the design and permits and governement incentive application for your solar panels. All you have to do is give us your approval to move forward!
Stress-free Installation and activation. We take care of everything from roof repair, tree cutting, and installation. Sit back, relax and watch the magic happen!
Solar Panels California
Solar panels in California pay for themselves thanks to the state’s year-round sunshine and rising electricity prices. In fact, the estimated savings for California solar owners over 20 years can reach up to $20,000!
How Much Can I Save?
Like many Californians, your decision to go solar is likely motivated by the long-term cost savings associated with a residential solar system. Since panel systems in The Golden State have an abundance of sunlight to convert, you can expect to see your system pay for itself quickly. Below are the average costs and savings that California residents can expect:
- Many homeowners will see a 100% offset in their energy bill when they install their solar panel system.
- The average monthly electricity bill in California is $101.49.
- For an average home, the cost to install solar (5 kWh system) is $15,300.
- The average payback period is 8 years. Our panels have a 20-year warranty!
How Much Will I Save?
New Jersey is one of the few states that can guarantee that most homeowners will actually make money from their solar systems immediately. This is because New Jersey offers an incentive called the Solar Renewable Energy Credit (SREC). Utility companies in NJ are required to produce a certain amount of solar electricity each year.
They are able to meet these goals by purchasing solar power from homeowners for the first 10 years that they own solar panels. Each credit is worth roughly $200 and the average homeowner will earn 6 SRECs in a year. This equals about $12,000 over 10 years. Please note: this program is set to expire. New applicants will only be accepted until 2021, so act nowto take advantage of this program.
In addition to SRECs, you’ll also be saving money on your electric bill each month. And once the system is paid for, it’s all savings for you. But let’s not get ahead of ourselves – let’s look at some numbers to demonstrate our point.
How it Works
You’ve probably seen a few solar panels installed on rooftops in your neighborhood. Perhaps you’re wondering how these panels convert the sun’s rays to clean, renewable solar energy. The process behind solar energy generation is remarkably simple.
When sunlight hits the photovoltaic (PV) panels, electrons become excited, creating a direct current (DC) of electricity. This current is fed into an inverter, which converts DC electricity into alternating current (AC) electricity so it can be used by appliances in your home.
A meter installed on the system keeps track of the amount of energy generated and consumed by your home. California has a great net energy metering program (NEM). This incentive gives owners credit for excess solar energy produced by their panels that is then sent into their neighborhood’s grid.
Tax credits are a great way for residents who own their solar panel systems to earn money back. The Federal Tax Credit allows solar energy owners to deduct 26% of the cost of installing the solar system from their federal taxes.
The Federal Tax Credit applies to both residential and commercial systems. This credit can be applied to personal income taxes that would otherwise be payed to the federal government.
You qualify for these credits if you own your panels opposed to renting, installed in 2020 and actively generate electricity. When you’re ready to claim your credit, you are going to need to file IRS Form 5695 when doing your tax returns. You will be instructed to calculate your credit on the form.
This deal will not last forever. Residential and commercial solar energy system owners can deduct 26% of the cost of installation for systems that have begun construction through 2020. The tax credit then decreases in slow increments annually until 2021, where it is projected to stay at 10%. You’ll get the best deal if you switch to solar energy today!
California has always been a pioneer in renewable energy and is currently one of the top 10 solar states in America. If California achieves its goal of 30% solar energy by 2030, that would be equivalent to taking 59 million cars off the road!
Momentum Solar is in California
Momentum Solar is known for its’ “no-strings-attached” offering — homeowners can go solar for no money out of pocket and pay a lower electric bill. Roof repairs or replacement are offered wholesale for homes that are being prepped for installation, and complimentary tree removal is offered for qualifying homes. No-obligation consultations are free and important to offer in the Golden State that is continually experiencing stress on the power grid.
Momentum Solar is committed to helping Californians convert to clean, solar energy. We provide guidance at every step in the process, which includes helping you determine the best way to finance your system. In California, three options are available to you:
- Pay upfront for your system: If you are able to, paying for your system outright offers substantial savings over time.
- Take out a loan: Many homeowners don’t have enough money to pay for their system outright, but taking out a loan allows them go solar sooner. There are several types of loans available and we can help you find the best one for your financial situation. With a loan, you’ll be able to get a solar system installed on your property for $0 down so you can start experiencing cost savings sooner. Once the loan is paid off, you’ll own your system.
- Lease your solar panel system: Leasing or a solar power purchase agreement (PPA) are attractive options for California residents who want to enjoy the savings associated with solar without owning the system. With a lease or PPA, you’ll pay a fixed amount for each kWh of electricity generated by your system, which will be substantially lower than paying for electricity from the grid. With no upfront investment and savings guaranteed during the entirety of your leasing agreement, this is an excellent way to go solar for little money down.
Find Out if Switching to Solar is Right for You
Call 1 (888) MOMENTUM now to get your no-obligation, free quote