Amid rising energy bills and concerns about climate change, many people in the US are seriously considering alternative energy sources. One clean energy source that has drawn the interest of homeowners is solar power. It is not only friendly to the environment, but it also drastically cuts your electricity bill, adds value to your property, and even helps you qualify for tax breaks. When it comes to tapping energy from the sun and enjoying solar panel savings, California leads the way. The golden state gets over 20% of its electricity from the sun.
Homeowners in Los Angeles, San Diego, Orange County, San Bernardino, Ventura, Riverside, and throughout the state of California can take advantage of the ample sunlight and install residential solar panels. However, there are many other factors you need to consider before investing in solar. First, learn whether solar panels will help you save more than you currently spend. The guide below will help you calculate and determine the true cost of solar panels and how much you can save.
Review Your Electricity Bill Before Considering Residential Solar Panels
Your current electricity costs are one of the major factors to consider before going solar. Electricity rates depend on the company you use and the region you live in. In some states, homeowners pay as little as 8 cents per kilowatt-hour(kWh), while the national average is 10.58 cents per kWh.
In California, the average is 16.7 cents per kWh, making it one of the most expensive states when it comes to electricity costs. If electricity rates in your area are always up, switching to solar power may help you make some substantial savings.
Evaluate Your Sunlight Exposure
Although you don’t have to reside in a sunny region to benefit from solar panels, it’s worth noting that more sunlight means more savings. Solar panels generate more energy when there is ample sunlight, therefore you don’t have to regularly switch to regular electricity when your panels don’t produce enough power.
Sunny California is definitely a great location to own a solar system. Los Angeles basks in 284 days of sunshine a year, meaning your system will be highly productive, helping you maximize your savings.
Estimate Solar Panel Cost
Although residential solar panels have the potential to save you thousands, they have some significant upfront costs. Therefore, you need to know the cost of buying the entire system, getting it installed, and maintenance. If you can afford to buy the system in cash, you will see more returns on your investment than all other options. Alternatively, you can take a solar loan or lease your solar panels.
Look for Solar Incentives in Your State
To increase your savings, research for the solar incentives and rebates available in your state, and see how you can take advantage of them to bring down the cost. On a federal level, homeowners who install panels before the end of 2020 are set to enjoy a 26% tax break.
Is Your Home Suitable for Solar?
Not every person can benefit from solar panels. There are local factors that can stop you from going solar. Some of them include;
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You live in a rental home. It makes little financial sense to install solar panels in a home that you don’t own.
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You have an old roof. Installing solar panels on an old roof may be unsafe, and you may have to perform repairs or replacements before a solar installation. This will increase costs.
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Nearby buildings and trees can block sunlight from reaching your solar panel, meaning solar may not work out for you.
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The direction your roof slants may affect the productivity of your panels. Roofs that face north are the least ideal for solar.
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Your type of roofing can also affect the cost. Some roof materials are difficult and expensive to install solar on, and others are fire hazards.
Consult Professional Solar Experts
Evaluating the factors above will help you get a clear picture of whether solar panels fit your situation. To make sure you are making the right decision, consult qualified solar panel specialists. Solar Optimum is a distinguished company that can help you calculate how much you can save and give you expert guidance. We also offer unmatched solar installation solutions. You will get to benefit from our industry-leading 25-year warranty that covers the panels, inverter, installation, racking, roof, and performance guarantee. Book an appointment with us today!
