California is known for its beautiful weather and sunny days, but did you know that it also makes sense financially to go solar in the Golden State? There are several reasons why installing solar panels in California is a smart financial decision, including high electricity rates, government incentives and programs, renewable energy goals, increase in property value and low maintenance
High Electricity Rates
California has some of the highest electricity rates in the country, with an average retail price of around 20 cents per kilowatt-hour. This means that homeowners can save a significant amount of money on their energy bills by installing solar panels. For example, a 5 kilowatt solar panel system can save a homeowner around $1,000 per year on their electricity bills.
Government Incentives and Programs
California has a variety of incentives and programs in place to encourage residents to go solar. One of the most notable is the California Solar Initiative, which offers rebates to homeowners who install solar panels. For example, a homeowner who installs a 5 kilowatt solar panel system can receive a rebate of around $3,500. Additionally, California homeowners can take advantage of the federal Investment Tax Credit (ITC), which allows homeowners to claim a credit of 26% of the cost of their solar system on their federal income tax return.
Renewable Energy Goals
California is a leader in renewable energy and has set a goal to produce 100% of its electricity from clean sources by 2045. By going solar, homeowners can not only save money on their energy bills, but also play a role in helping California achieve its clean energy goals. With California's clean energy goal, it is likely that the state will continue to offer incentives to homeowners who install solar panels.
Increase in Property Value
Installing solar panels adds value to your property and can also be used as a selling point when you decide to sell your house. According to a study by Lawrence Berkeley National Laboratory, homes with solar panels sold for an average of 4.1% more than homes without solar panels.
Low Maintenance and Long-lasting
Solar panels require minimal maintenance and can last for 25-30 years. This means that once they are installed, homeowners can enjoy the benefits of solar power for decades to come.
In conclusion, going solar in California is a smart financial decision that can save homeowners money on their energy bills, while also helping California to achieve its clean energy goals. It also adds value to your property and requires minimal maintenance. With the right solar provider, you can install the panels with ease and start saving money right away. With the California's incentive and clean energy goal it's a smart decision to go solar now.
If you're considering going solar in California, it's a good idea to do your research and find a reputable solar provider who can walk you through the process and help you take advantage of all the incentives and programs available to you. With the right provider, you can enjoy all the benefits of solar power and start saving money on your energy bills right away.