California is one of the best states to go solar, and there are obvious reasons as to why. California's official state nickname is the 'Golden State.' With its explosive growth following the discovery of gold, to the golden poppies in Antelope Valley, the golden gate bridge - California is truly the golden state. Brea, Carlsbad, and Fountain Valley are cities that are starting to see a dramatic emergence of solar. From EV chargers to solar batteries, you can now turn sunlight into gold! Even though we Californians are typically some of the most Eco-friendly individuals in the entire world, one of the biggest reasons you should switch to solar energy is for the savings.
As a society, we have become more and more reliant upon electricity. Whether it is to turn on your lights, charge your electric vehicle, access your internet, wash your clothes, electricity has become a necessity for your family's well-being. Every flip of the switch, EV charge, running your wifi costs money. Every month you typically pay for that electricity cost to your local utility company like San Diego Gas & Electric (SDG&E), Southern California Edison (SCE), or Los Angeles Department of Water & Power (LADWP).
The cost of electricity isn't cheap in California, a study conducted by the U.S. Energy Information Administration (EIA) rank California as the 7th most expensive state for electricity costs. On top of that, SCE is proposing a 14.4% increase to their electricity rates in 2021. We pay more than 60% of the average American for our electrical charges, and the cost of electricity is only projected to increase in the future. If you've compared your electricity costs today versus 10 (ten) years ago, it has more than doubled in price.
Regardless of your utility provider, you would have noticed a sizeable increase in prices over the last few years. On average, SDG&E, SCE, PG&E, and LADWP have had roughly a 5% rate increase annually. How does solar fix this? By going solar, you lock in your current electricity prices and break free from the utility company's rate hikes.
By installing solar panels on your roof, you will be generating your own energy so that your reliance on the grid will be minimized. By adding a solar battery to your solar energy system, you can ensure that you have enough power even if there is a power outage. In 2019, one of the top stories was the lasting, widespread impact of the PG&E bankruptcy.
This event led PG&E to make significant adjustments to their operations and preemptively have planned power outages during the fire season. It is impacting more than half-million people in California, and according to the CEO of PG&E, it may last for at least another ten more years until they can adequately update their infrastructure.
By installing a solar battery backup, you can ensure that you have power even if there is an outage, which is becoming more frequent. Plus, some homeowners can also reach total self-sufficiency and be completely off-grid with solar. Going solar translates into much lower monthly bills that will only become a better deal as utility electricity costs continue to rise.
California offers several incentives to encourage both homes and businesses to adopt solar energy. The primary financial incentive that is still available for Californians is the Investment Tax Credit (ITC), or more commonly referred to as the Solar Federal Income Tax Credit. The ITC allows qualified homeowners and businesses who activate their solar energy system in 2020 to be eligible for a Federal Income Tax Credit of 26% (percent) tax on the cost of your solar energy system.
This Federal Income Tax Credit can take 26% of the total cost of your solar installation. With each passing year, there is limited time on this credit, so you need to act soon. In 2021, you would only receive 22% for your tax credit. Act now and make sure your installation falls under the ITC guidelines, so you receive the full value to maximize the benefits of going solar. There are additional incentives offered by utility providers or local municipal governments. Make sure that you do your research and work with a solar installer who can take advantage of these great programs.
The most important consideration for most homeowners and solar is the impact going solar will have on their homes. That fear is what makes adopting a solar PV system so tricky. Numerous research articles can provide compelling information about how adding solar panels can increase your home values. If you had two identical homes, wouldn't you pay more for the home that costs less to operate? The sale of homes with solar PV systems has shown that properties with PV systems sold at a 3.74% premium.
If a home in Los Angeles was worth $700,000 before getting solar, it could sell for an additional $26,180 after going solar. That means that by adding a solar energy system, your home would sell for an average of $726,180. Adding solar panels has a substantial impact on your home's equity. Most home buyers don't want to go through the process of installing themselves and will jump at the chance to buy a home that comes with solar already.
We're here to help! We know that the topic of solar energy is somewhat complicated, so we've even put together a series of commonly asked Solar FAQs.
It's clear that solar technology works and that solar panels make financial sense. It allows homeowners to rely less on the grid and generate their own environmentally friendly energy. Forme Solar can ensure that you go solar with confidence.
At Forme Solar, we geek out on the craftsmanship of solar power, which is at the heart of each solar panel and battery installation. We got our start by specializing in solar repairs and by taking a solar battery first approach. This has allowed us to specialize in ensuring that your home continues to be powered seamlessly whether or not a power outage occurs.
With excellence being the passing grade we focus on producing a great experience for all of our customers. When you're looking for a qualified licensed solar installation and repair services near the greater Los Angeles, San Diego, Orange County, San Bernardino, and Riverside area, call Forme Solar at 714) 694-2262 or request a quote.