Are Solar Panels Worth It In California

The short answer is yes even in an expensive state like california going solar is worth the investment.

Are solar panels worth it in california.

Cash buying your solar electric system outright is best. The main reason homeowners go solar is to reduce the amount of money they pay to their local utility companies. Technicians from solar source install solar panels on a house in dunedin florida. Whether you choose to buy or lease your solar panels will have a major impact on your system s long term value.

An average sized residential solar. One of the biggest advantages of installing residential solar panels is a 30 federal tax credit on the total cost of a system. The residential renewable energy tax credit as the irs calls it can be an attractive way to save on the significant cost of installing solar panels or roofing. Given a solar panel system size of 5 kilowatts kw an average solar installation in california ranges in cost from 12 708 to 17 192 with the average gross price for solar in california coming in at 14 950.

While solar leases and power purchase. After accounting for the 26 federal investment tax credit itc and other state and local solar incentives the net price you ll pay for solar can fall by thousands of dollars. You have almost an 18 year margin of safety to get your money back. If you have enough to make a purchase in cash you ll save more than with any other option but even with a 0 down solar loan your savings could still be in the tens of thousands.

A couple of years ago steven weissman an energy lawyer at the university of california berkeley started to shop around for solar panels for his house. Chris zuppa the penny hoarder. As of september 2020 the average solar panel cost in california is 2 99 w. It usually costs 15 000 to 20 000 after tax credits and can reduce your electricity bill by 70 to 100 percent depending on the size and.

It seemed like an environmental no brainer. A solar panel system will pay for itself in seven years and one month in california and is warranted for 25 years. Let s explore why that is why solar panels are always a good investment. New research published in the peer reviewed journal solar energy suggests california should embrace the idea of building more solar panels than it can consistently use rather than treating.

How are you financing your solar panel system.