Do you live in California and want to install solar panels on your home but aren’t sure if it’s worth it to purchase them? California is one of the highest solar energy users since solar panels can save you money and reduce your energy usage. In this blog, we pose the question: are solar panels worth it in California? At Sunlight Solar, our professional technicians can efficiently install solar panels on your home or answer any other solar questions that you might have.
Cost of Solar in California
The cost of solar varies in each area, and however, it currently is about $2.85 per watt. There are also different solar systems that consist of different sizes and watts. Based on the electricity usage in California, most people would need to purchase a 5kW or 8kW solar system to power their homes fully.
California’s Solar Incentives
California has excellent solar incentives that they offer to their residents. California provides state-wide net metering while many cities and towns offer other regional rebates and other incentives for people who invest in solar. Net metering allows you to gain credit with the electric company for the extra energy that your solar system produces. The federal government has also recommended that residents install their solar systems with an Investment Tax Credit. This credit can let you deduct 26% of your installation fees from your taxes.
The Cost of Electricity in California
Currently, the cost of electricity in California is around 23.11 cents per kWh as of June 2021. California’s electricity cost is almost double the national average. However, residents of California use less electricity every month. Most homes on average in California use 532kWh per month, making their energy bill lower. If you want to see your electric bill decrease, even more, reach out to our technicians at Sunlight Solar.
When You Will Start Seeing the Benefits of Solar
Investing in solar will reduce your energy bill in the long run. It takes around six years for your solar system to generate enough energy to fund itself, and if you happened to opt against the federal tax credit, it could take closer to eight years. You may be thinking to yourself, are solar panels worth it in California if it takes a long time to make your money back? However, when it comes down to it, compared to the long lifespan of a solar system which can last up to thirty years, it is a relatively short length of time.
How Much Money You Could Potentially Save
Although systems and costs vary for everyone, in general, you will save about 35k or more throughout its entire lifespan after you’ve made back the cost of the solar system. This estimate doesn’t include what you may make or save from net metering or energy storage. If you’re looking to invest in solar energy and save money on your electric bill while also being more environmentally conscious, reach out to our Sunlight Solar team, who can assist you with any of your solar needs.
Why You Should Choose Sunlight Solar
Have you wondered if solar panels are worth it in California and if you invest in a solar system? You should first compare your current electric annual costs to the solar system’s estimated yearly costs in your area and see if it’s the right choice for you, and then reach out to one of our technicians! Sunlight Solar answers any solar questions and installs solar systems that fit your home and needs. If you’re ready to go solar, give us a call at (858) 564-8032, or click here to contact us today!