If California were its own country, it would rank 7th globally in installed photovoltaic capacity. The average installed residential and commercial photovoltaic system prices in California have fallen by 13% in the last year. Nationally, prices have dropped steadily by 11% from last year and 34% from 2010.
In Orange County alone there are more than 4,200 solar installations. 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 Orange County resident Steve Sherman, “My new average electric bill from Southern California Edison is $1, doing the math makes my savings very obvious.”
Below explains the average saving for a typical Orange County 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: 12% First Year
Pay Back: 8 years
Instant Savings: $3,525 (1st year)
Federal Tax Credit: $14,012
“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.
To learn more about solar for your home or receive a free estimate, contact Sullivan Solar Power. Sullivan Solar Power is a Southern California renewable energy firm that services, Inland Empire, Orange County and San Diego. Call 1.800.SULLIVAN or visit www.SullivanSolarPower.com for more information.