Solar system is the perfect choice for utility cost saving to a great extent. Besides your initial investment, installing solar panels whether at a residential place or at a commercial place leads to a huge saving.
According to the energy department, a 5kw residential solar installation will cost around $16,000 or more depending on your needs. However, this may change in the coming years. But whatever be the investment, your monthly electricity bills will drastically get reduced, side by side with massive environmental savings and reduction in your carbon footprint.
That the solar costs less than traditional utility power is for sure and installing solar panels at a residential place is a good decision considering the steady rise of utility price nearly at 3% every year over the last decade.
Let’s check what other advantages solar panel installation comes with.
#1: Solar mitigates risk and frees capital for other investments.
Solar energy prices are predictable over the system’s 30-year lifespan. You will get a competitive advantage for it being insulated from price volatility and also grab the opportunity to invest the savings in other capital expenditures.
#2: Solar provides strong tax and financial incentives.
Federal tax policy is enacted to work favorably for both residential and commercial entities who get solar panels installed at their place. For instance, a commercial entity can receive a tax credit equal to 26% of its solar project costs.
#3: Solar Power Increases Property Value
A building equipped with high-quality solar panels is more valuable than a facility that depends on fossil fuel-generated energy, deciding perfectly how much more valuable can be complicated. One should go for it provided increased property value is an important factor.
Who to Approach for Solar Panels Installation in CA?
Homeowners understand that solar panels installation is an escape from the high monthly electricity bills. With solar, you can generate your clean power at home using the natural sunshine and save to a great extent as you will be paying much less.
In California, the electricity bills are high, which is why you need to install solar panels. So, it’s better if your home has solar installation. All the more, you qualify for Federal Investment Tax Credit. So, there are many more great reasons to go solar.
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