Solar energy is an ever-growing industry, with enough solar these days to power over 18 million American homes. With that being said, some still see residential solar panels as a hefty investment, and rightfully so.
So are solar panels worth it? What do you generally pay, and what do you gain from installing solar panels?
If you’ve been looking for a commercial electrician in Los Angeles to learn more about solar panels, you’ve come to the right article. Read on to understand whether solar panels are worth it for you!
What Do Solar Panels Cost?
It’s important to note first that the cost for solar panels will be different for practically every home. There are plenty of variables that affect the end price, which we’ll cover later.
That said, the Center for Sustainable Energy estimates that solar panels that power a typical 5-kilowatt residential system will cost about $15,000 to $25,000.
Your base electric bill might factor into your costs as well. How much will you be saving if you switch from your current provider to solar panels?
You should also consider how much sunlight your home typically gets. As you can imagine, the more sun you get, the more effective your panels will be.
This, of course, is before any tax incentives or rebates. Things like the size of your panels, their various components, configuration, and labor associated with installing your panels can affect your costs.
Are Solar Panels Worth It:Incentives, Rebates, and Returns
Paying $15,000 or even $25,000 is definitely a significant investment. While the commitment is substantial, there are plenty of ways to save on your initial installation.
Solar panels also provide plenty of opportunities to save in the long run. Let’s break down each of these solar panel benefits here:
Federal Solar Tax Credits
If you install solar panels in your home, you can get an income tax credit based on the cost of your installation. As of 2022, solar homeowners can get 22% of their solar costs in income tax credits.
While this tax credit program is due to run out in April of 2022, it will most likely be renewed by the federal government. It serves as an excellent way to reduce your taxes just by owning solar panels.
State Rebates and Incentives
There are, of course, plenty of states that offer solar power rebate programs. Municipalities are constantly trying to get residents and businesses to switch to renewable energy, which means there are plenty of rebate programs.
Check with your state or local government’s department of energy to see whether they offer solar rebate programs. Utility companies often provide credits as well.
All of these programs help reduce the cost of installing solar panels, and this means you can reap the rewards of going solar much sooner.
Increase Property Value
If you ever decide to sell your home, there is no doubt that installing solar panels will improve its value. More and more people are looking to live in more environmentally-friendly homes, thereby increasing demand for solar.
Don’t forget that once you’ve installed solar panels, you won’t have to worry too much about upkeep. Maintenance is generally low with solar, and you’ll likely never run out of sunlight. Talk about an investment!
Commercial Electrician Los Angeles for Solar
So are solar panels worth it? In many cases, yes. Use this solar panel guide to help you decide whether taking on solar power is a good decision for your home!
Are you looking for a “commercial electrician Los Angeles” online?Contact us today,and we’ll get you started on any and all solutions!
Signal Alarms and Electric is an electrical contractor in Southern California providing full capacity electrical contracting services for new construction, renovations, tenant improvements, service upgrades, exterior, interior, and landscape lighting, retrofits, and service installations in the Southern California/Los Angeles County area.