Are Solar Panels Worth It In California

As of september 2020 the average solar panel cost in california is 2 99 w.

Are solar panels worth it in california.

The state has just the right mix of factors that make solar work for the average home. 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. If the system requires repairs or maintenance you will have saved enough from lower electricity bills to cover these costs. 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.

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. 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. 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.

You have almost an 18 year margin of safety to get your money back. February 3 2020 according to the department of energy nrel the average cost for a 5kw residential solar installation is more than 16 000. And while the cost of solar panels has dropped more than 70 since 2010 according to the solar energy industries association batteries can cost as much as 10 000 to 15 000 including installation according to solar united neighbors. Other areas like washington d c new jersey and massachusetts have various forms of performance based incentives where you can receive extra.

Cash buying your solar electric system outright is best. How are you financing your solar panel system. This is higher than the average price of residential solar power systems across the united states which is currently 2 53 per watt. Whether you choose to buy or lease your solar panels will have a major impact on your system s long term value.

This national estimate is even higher in california due to our state s more expensive installation and labor costs. 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. 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.