Going solar has never been more affordable.
According to the SEIA, prices have fallen 70 percent since 2010. In California, solar is on 450,000 rooftops. Solar also accounts for 9 percent of California’s electricity.
Imported solar panels make up the majority of those used in the United States. A recently approved tariff will likely raise the price of panels and it is possible that these increased prices will be passed on to consumers.
Regardless of the tariff, solar will still save customers money on their utility bill every month. Our CEO, Ed Murray, recently elaborated on this in The Sacramento Bee:
For homeowners, a typical rooftop array of solar panels costs around $15,000, although homeowners are eligible for a 30 percent federal tax credit, said Ed Murray of Aztec Solar Inc., an installer in Rancho Cordova.
As it stands now, Murray said homeowners can expect the panels to pay for themselves, in the form of cheaper electricity, in six to nine years. With the tariffs, he said, the payback time will likely be eight to 10 years.
“There will still be people wanting (solar),” Murray said. “We always bounce back from these things. We will prevail.”
The recently extended Investment Tax Credit is 30 percent through 2019, before dropping to 26 percent in 2020, and to 22 percent in 2021.
Commercial investment tax credits will maintain a 10 percent rate beyond 2021, while homeowner tax credits will end. For homeowners, this means a five-year window is in place to take advantage of great tax benefits.
The Investment Tax Credit will likely offset some of the increased solar panel prices, and solar installations will stay pay for themselves well within the system’s lifespan.
Solar makes sense for customers in the greater Sacramento region. (Did you know Sacramento’s summers are the sunniest in the world?)
Call us today for more information! (916) 853-2700