Solar energy has become more evident in being the chosen power supply, reducing your electricity bill and being an environmentally friendly energy source. It is time to analyze the cost, determine what you will pay and save, and see why you should install a solar system.
Installing Solar Panels
The initial installation of a solar system can be costly. The costs include purchasing solar photovoltaic panels, inverters, mounting equipment, a solar battery charge controller, and solar power meters or performing monitoring systems. Several variables change the cost of a solar system, like the size of the panels, your location, and incentives from the state where you reside. A professional solar installer can determine what the cost will be for you to install a solar system.
An average solar panel in Stockton costs approximately 43.02/W. In California, an average solar system of 5kW ranges in cost from $ 12 835 to $17 365, whereas in Stockton, it is at $15,100. Despite the initial installation cost, your household will become self-sufficient to install a solar system. The solar system will produce more electricity used by your household, which can be put back into the grid or used as credits for your energy usage, saving in the long-term hundreds of dollars.
Apart from saving on your electricity bill, there are other incentives by the Federal Government as incentives to install solar energy systems. The Federal Tax Credit allows homeowners to deduct 26% of the installation cost from their federal taxes. In California, solar customers are eligible for the State’s Net Energy Metering Program, which provides financial credits for customer-generated power fed back to the electric grid.
Also, in many areas of the country, solar panel owners are offered solar renewable energy certificates, or SREC, which can be sold back to the utility company for as much as $300 each.
The Frugal Analyst has provided a video that may help you understand the savings and value of solar panels.
The benefits of owning a solar panel system continue for the system’s life, meaning the annual savings you earn will continue long after the system has recouped its investment. If you purchase and install a solar energy system for your home, the long-term benefit can add tens of thousands of dollars.
Solar energy has become the cheaper and more efficient energy source to invest in – you must invest in solar panels now.
The Payback Period
The payback time can be calculated by the cost of the system and the benefit of saving on your electric bill per annum. The total cost of the system is determined by:
- The size of your home.
- The energy it requires.
- The climate you live in.
In Stockton, because of the hot, arid summers and the average seven hours of sunlight a day, including winter, you will require fewer solar panels than in a colder climate. Peak hour sunlight can be calculated by looking at the amount of sunlight that is strong enough to be absorbed by a solar panel to determine how many solar panels you will need.
The critical thing to realize is that the energy cost from the solar panel system is fixed and will not fluctuate compared to your current electric bill. California, one of the states with the most expensive electric bills, is proposing a new plan to charge customers based on their income level.
The annual benefit of your solar panels will save on electric bills and pay for your clean solar energy system installation in the long run.
The maintenance on the solar system is little to none, and it has at least a 30-year expected lifespan. The solar panels require almost no maintenance, and the design is such to ensure they remain clean as long as they are exposed to rain or a quick rinse with a garden hose every few months.
Solar panels are worth it in Stockton, CA! Over 20 years, you can expect to save $82,250 by installing an average-sized solar system. Contact the solar experts to learn your home’s requirements, installation and financing options.