Are Solar panels in Westlake village still worth it in 2018?
Rooftop solar on its own is already affordable enough to be a smart choice for virtually any Westlake home with an unshaded roof and some daytime electricity usage. Solar panels in Westlake village are true choice even in the absence of generous, state-backed solar feed-in tariffs and the (slight) reduction of the up-front incentive for solar available through the federal Renewable Energy Target. In fact, California homes have been installing solar at a steady pace long after the most generous incentive programs.
The key to getting the most out of a solar PV system these days is to use as much of the energy as possible directly, within the home (‘solar self-consumption‘). Self-consuming solar energy helps the home to avoid purchasing energy from the grid, thereby saving between about $0.20-$0.30 per kilowatt-hour (kWh) depending on where they live and their electricity retailer. The rate solar households are paid to send their excess solar in the grid, on the other hand, is about 8-15c/kWh.
Solar panels in Westlake village have become way popular as you can notice them everywhere without anyone pointing. Solar system installation prices have been steady for the past few years. No sudden reductions (or increases) are likely to be on the horizon; the market has stabilized after the initial turmoil of its first few years.
Solar panels in Westlake village: Then vs now
Lots of things have changed in recent years with regard to solar power for homes. The business case for going solar – the investment-worthiness of solar panels – has quickly progressed through roughly three stages since the solar panel boom began in California in around 2008.
Making a long story short, these stages were:
Stage 1 (until about 2011): High solar system prices, high incentives. Lots of people installed solar despite relatively high prices thanks to government incentives on the federal and state level. “Solar is a no-brainer, and there’s a deadline!”
Stage 2 (2011-2013/2014): Falling solar system prices, falling incentives. System prices fell, but so did incentives, creating a landscape of uncertainty. “Is solar still a good idea?”
Stage 3 (2014-present): Relative stability. Solar PV system prices come down significantly, and upheavals in the solar incentive sphere cease.
Solar power is here to stay
At this point, it seems fairly clear that residential solar power is here to stay in Westlake. Close to 2 million homes already have a solar PV system, and there is now more than one panel installed per human being in the country. Virtually all industry analysts and investment houses – both within and outside California – are predicting that solar (and battery storage) are the future.
Are Solar panels in Westlake village still worth it? Absolutely
In 2018, solar power systems remain affordable and attractive, especially in light of the plague of high electricity prices. Solar feed-in rates may be not be spectacular, but with system prices as low as they are it’s not difficult to see favorable returns from putting solar on your roof, particularly if you shop around and manage to find a good deal. Furthermore, making efforts to increase your rate of direct solar energy consumption (e.g. with a home energy management system) will also help to maximize returns.
In places where low system installation prices collide with high electricity prices, solar makes spectacularly good sense without much effort. But even in cities with higher average system prices put payback periods over 7 years in our examples, it doesn’t take much to improve the financial case. We recommend shopping around for the best deal possible and ensure that you can use the solar energy that your system will produce.