Using the sun to generate electricity has been a dream for many decades now. Thanks to recent improvements in technology, government incentives and most of all PACE financing, it's now possible to get the sun to pay your electric bills.
The Property Assessed Clean Energy program, or PACE as it's known, is a government supported program for financing energy efficiency and improvements on private property. PACE programs exist for both residential properties, referred to as R-PACE and commercial properties referred to as C-PACE.
PACE financing, noted as one of the “Top 20 world changing ideas” by the Scientific American magazine is an affordable and effective way of financing a range of home upgrades that save energy, strengthen the property and increase its value.
Find out if you are eligible for PACE roof financing
5,428 have already checked and 78% were eligible
PACE funding facilitates qualifying for environmental tax credits.
As of 2017, hundreds of thousands of U.S homeowners have saved 4 billion USD by using PACE financing programs to improve their homes and make them more energy efficient. Solar panels are one of the most advantageous because of the massive savings on utilities and the state tax credits earned.
The factors that determine the amount of electricity that is produced are:
The term solar panel refers to a residential silicon photovoltaic panel. Their average size is 51/2 feet tall by just over 3 feet wide. Each of these panels is made up of 60 individual solar cells that are connected and convert the sun's energy into electricity.
This is mainly determined by geography and is measured in terms of the percentage of sunlight a particular area gets. In the U.S. states such as Alaska 41%, New York 46% and Washington 47% sit at the lower end of the spectrum. States such as Nevada 79%, Hawaii and Colorado at 71% occupy the high end of the spectrum. Luckily, California sits with the latter, at 68%, which makes it a great place to generate solar energy.
Solar panel efficiency is a measurement of how much of the sun's energy a solar panel converts into usable electricity. Efficiency has been greatly improved over time.
Master Suite Addition40%
If you own a home in California, you should certainly consider installing solar panels to generate your own electricity. Along with the immediate financial benefits, you will also increase your home's value and help lower carbon emissions.
With the added benefit of PACE financing, installing solar panels becomes one of the smartest moves California homeowners can make.