If California were its own country, it would rank seventh globally in installed solar photovoltaic (PV) capacity. The price of the average installed residential and commercial solar power system in California has fallen by 13 percent in the last year. Nationally, prices have dropped steadily by 11 percent from last year and 34 percent from 2010.
Southern California has an abundance of sunshine and is home to the nation’s highest electric bills, so it’s no surprise that San Diego has been named California’s top solar city by Environment California. The financial savings that can be incurred are one of the strongest selling points for residents that decide go solar. By going solar, homeowners essentially pay a fixed cost for electricity rather than paying the ever-increasing electricity rates of the utilities.
“My average electric bill in the summer was $480 and in the winter were $260,” said Southern California resident Steve Sherman, “My new average electric bill is $1, doing the math makes my savings very obvious.”
Below explains the average saving for a typical residence:
System Size: 6,944 kW AC
Modules: 24 SunPower 327
Orientation: Western Facing Roof
Financing Method: Cash
Pre-Solar Bill: $320
Post Solar Bill: $25
ROI: 8 years
Instant Savings: $3,525 (1st year)
Federal Tax Credit: $14,012
Sullivan Cash Reward: $1,388.80
“The very idea of the creation of this solar system to create affordable energy is a stroke of genius,” said Mr. Sherman, “Sullivan Solar Power is to be commended for taking the lead as a first class company in which its employees are truly committed and follow through to the best from start to finish. In conclusion, I also receive a sizable credit on my taxes to boot.”
Homeowners who go solar before 2016 are eligible to receive a 30 percent federal tax credit. You are able to receive a dollar for dollar credit, which can be rolled over year after year until fully exhausted if you do not have the tax appetite to use fully in the first year.
In addition to the federal tax credit, locally headquartered firm, Sullivan Solar Power, is offering a cash-back incentive to San Diego County property owners through Dec. 31, 2013. Residents are able to go solar for $0 upfront payment and receive $0.20 per watt on their solar project, up to $1,500 cash-back. San Diegans must sign up to go solar by the end of the year to receive the offer.
To learn more about solar for your home or receive a free estimate, contact Sullivan Solar Power. Sullivan Solar Power is San Diego’s top solar firm, according to California Solar Initiative data. Call 1.800.SULLIVAN or visit www.SullivanSolarPower.com for more information.