Is solar rooftop system in Southern California Worth it?
If you’re a homeowner…
Owning a home in southern California is expensive to say the very least. It’s challenging to keep up with the maintenance, regular monthly utility bills, mortgage and tax. It’s no wonder why many homeowners are seeking investments to offset some of the costs and solar rooftop systems are an option for homeowners.
The question for homeowners is simple; is solar rooftop systems in cities like Los Angeles and Huntington Beach worth it? There are 3 areas to discuss and our opinion is that there is no better time to invest in your future then right now.
If you pay thousands each year in taxes, you can benefits significantly from the purchase of solar for your rooftop. The federal tax credit of 30% is one of the best reasons to upgrade to solar. Tax credit is most beneficial for homeowners paying $8,000 - $25,000 in taxes each year. This can be easily credited back to you once the solar panels are installed.
If you are paying more than $250 for your electricity bill each month, we would love to help you reduce that to less than $20 a month. With solar rooftop panel systems, you harness the suns energy and pay the grid. When it’s time for you to use some electricity when you get home from work, you purchase it and its off peak hours to maximize your savings.
Initial costs / Breaking point
Last and most concerning factor is the initial cost, and when you as a homeowner will break even. On average, depending on your usage, roof and more, homeowners are breaking even at the 5 year mark. This is with some useful financing through 3rd party home improvement loans. Paying your loan in verse making your utility company rich is a far better way to spend your hard earned dollars. Additionally, you know your loan stays the same, unlike your utility company charging you more for using less.
If you’re a commercial business owner…
As a commercial business owner, your bills are multiplied and there is no end in sight. We are talking about commercial business owners that own the building outright, and are responsible for the electricity bill, which is one of the more stressful moments. In addition to mortgage on the property, there are a ton of other expenses.
Solar for the rooftop is an excellent idea for commercial because of the tax breaks. 30% is far more money if you are making billions of dollars and have to pay thousands in taxes. Apple, does an excellent job with solar renewable energy by investing money into a system to help them generate their own energy for their data centers. Once the project is finished, the system is setup you can claim the costs and reap that magical 30% tax credit for your system. In Apples case, a 300 Million dollar investment will receive that 100 million with the tax credit making that system 30% more affordable.
Everything that you have the opportunity to receive are just that much more beneficial and more. Commercial solar panel systems are your next investment into the future.