The cost of installation of solar panels in California has gone down and thus has proved to be a perfect investment for homeowners. Here's the checklist of how things stand when investing in solar power for your home.
According to research, current solar panel costs within California are between $2.50_ to $4.00 per watt depending on the size of the system, brand, and installation services. For example, in a standard 6-kilowatt residential solar system, one must spend between $15,000 and $24,000 before rebates or incentives.
Several factors lower solar panel costs in California, including the following: The Federal Solar Investment Tax Credit (ITC) lets homeowners reduce their federal tax bill by up to 30% of the installation cost or save hundreds if not thousands of dollars. Moreover, the so-called Self-Generation Incentive Program (SGIP) offers rebates for everyone who installs batteries for solar power storage, creating extra cost savings and security in your electricity.
The Net Energy Metering or NEM plan approved in California enables people with solar energy installation on their roofs to directly sell the excess electricity to utilities, helping to cut bills. This implies that solar panels are cheaper in the long run.
Although California's price per watt for solar panel installation may include high costs, the reduced monthly electricity bill and the increment in the house's value make solar installation economically viable. Now more than ever, it is time to embrace renewable energy because the utilities' costs continue to increase.