How to Use the Solar Calculator
The best way to learn about local rebates, your home’s energy potential, and your eventual return on investment is to use our ModSun Solar Cost Calculator (see above). Enter your home address in the box, then click Check My Roof. You’ll get an instant picture of your roof’s productivity, your average energy expenses, and installation costs in your area—whether you decide to buy or loan. We’ll also provide system size recommendations and information about rebates and incentives you may be eligible for. Just select More Info under each purchasing strategy to learn more, and then connect with a solar pro.
Solar in Anaheim California
Joining the solar power movement provides many benefits for both you and the environment. This renewable and clean energy source is available throughout the year in Anaheim due to California’s abundance of sunshine. In fact, Anaheim experiences bright, sunny skies around 70-percent of the year.
Solar Incentive Programs in Anaheim
Incentive programs are designed to help you absorb the initial costs of installing a solar panel system in Anaheim, California. It must be noted however, that some programs like the California Solar Initiative have exhausted their funding and are no longer accepting applications, while others like The Residential Renewable Energy Tax Credit are set to expire at the end of 2016.
- The California Property Tax Exclusion for Solar Energy Systems provides a property tax exemption for solar water heaters, solar space heaters, and solar thermal electric, photovoltaic and solar mechanical energy. The state does not tax the value added to your home by solar-generating equipment. This means that you will not be taxed for any property value increases associated with solar power equipment.
- Net metering is a billing method that tracks the amount of electricity your solar system contributes to the power grid. The excess power usually shows up as a credit on your utilities bill. The buy back rate is changing as more people are going solar. Check with your local power company to find current buy back rates for the net metering program.
- The federal Residential Renewable Energy Tax Credit allows a taxpayer to claim a 30-percent tax credit for qualified expenditures related to renewable energy systems.
About Solar Installation in Anaheim
Typical solar panel installation requires affixing photovoltaic (PV) panels to your roof. Your solar contractor should verify that your existing roof is structurally capable of supporting the weight of the equipment before applying for permits and beginning the installation.
PV systems convert radiation emitted from the sun into direct “DC” current. An inverter is connected to convert the DC current into alternating “AC” current required by your home.
The system is then connected to your home’s main electrical panel and a electricity meter. Energy created by the panels you do not use flows into the main power grid.This is where additional savings come in; as you will receive credit for the power your solar panel system contributes to the main power grid.
Paying for and purchasing your Solar Panel System
Anaheim residents have several options from which to choose when paying for a solar panel system. The most common methods are buying the system outright, leasing the equipment or entering into a PPA “Power Purchase Agreement.”
Purchasing a solar panel system provides the highest return on investment as you, the owner, reap all the benefits — tax credits, home value increase and electricity proceeds– it provides. Owning the system outright means you must invest a significant amount of money upfront. Even if you must borrow the money, from say a Home Equity Line of Credit (HELOC), it still provides the greatest return on investment (ROI) during the lifespan of the system.
Leasing a Solar System
Leasing a solar system is a beneficial option for people who do not want to make the upfront investment. The benefits of leasing include no out of pocket expenses and a reduced electricity bill. However, you forfeit all the credits and performance payments to the leasing company.
Power Purchase Agreement (PPA)
A PPA is similar to a lease, but offers smaller savings. In short, this option saves you money as there is no cash outlay and you purchase the solar electricity at a rate lower than electricity you receive from the grid. With both a lease and PPA, the installation company owns the equipment and therefore is responsible for all maintenance, upkeep and periodic cleanings.
Benefits of Solar Panels in Anaheim
- Lower utility bills
- Federal tax credit up to 30-percent to help offset solar panel costs
- Increased property equates into a positive ROI
- Property tax exemption eliminating an increase in the value of your property due to solar panel installation
Whether you purchase, lease or enter into a power purchase agreement, installing a solar panel system on your home or business provides a win for both you and your bank account.