Are Solar Panels Worth It In California

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.

Are solar panels worth it in california.

A solar panel system will pay for itself in seven years and one month in california and is warranted for 25 years. How are you financing your solar panel system. While solar leases and power purchase. It is also worth noting that many states including california and colorado have low income solar rebates that can help you get a solar system if you have lower than average income for your area.

Solar power in california when it comes to dollars saved for every dollar spent california is the best place in the country to go solar. Other areas like washington d c new jersey and massachusetts have various forms of performance based incentives where you can receive extra. Whether you choose to buy or lease your solar panels will have a major impact on your system s long term value. If the system requires repairs or maintenance you will have saved enough from lower electricity bills to cover these costs.

This national estimate is even higher in california due to our state s more expensive installation and labor costs. 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. The state has just the right mix of factors that make solar work for the average home. As of sep 2020 the average cost of solar panels in california is 2 68 per watt making a typical 6000 watt 6 kw solar system 11 877 after claiming the 26 federal solar tax credit now available.

This is higher than the average price of residential solar power systems across the united states which is currently 2 53 per watt. 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. February 3 2020 according to the department of energy nrel the average cost for a 5kw residential solar installation is more than 16 000. If you live in an area with high energy rates and a suitable solar rating and can afford the initial investment it s worth installing solar panels in your home while the 26 tax break is in place.

As of september 2020 the average solar panel cost in california is 2 99 w. Cash buying your solar electric system outright is best. Lots of sun high electricity prices great support from state government and plenty of options for solar panel financing.