California Leads the Nation With:
- 247,041 solar projects installed
- 2,407,000 kW installed
- More than 9,280,000 solar panels installed
➡️ 64,080 people are working in the solar industry in California
Average Solar System in Los Angeles
- Consists of 20 solar panels
- Each panel: 300W
- Total system size: 6kW
➡️ This system can generate 9,682 kWh per year
(enough for a household’s electricity needs)
1. Savings
- Average system size: 6kW
- Cost per watt: $5.37
- Average gross cost: $32,220
➡️ Monthly bill eliminated:
$208 – $250/month (first year)
2. Net Energy Metering (NEM)
- Optimize the rate of return on your solar investment
- Get credited on your account at full retail rates
- Accurately capture generated and consumed energy
- Provides annual performance data
3. Federal Tax Credit
- 30% of system cost
- Approx. $9,665 for a 6kW system
- Tax credit value example: $22,555
- Represents net cost savings
4. Low Maintenance
- Solar PV systems require very little maintenance
- Ensure nearby trees don’t cast shadows
➡️ Panels are tilted at ~15% angle
➡️ Rain helps clean panels naturally for optimal performance
5. Long Lifetime
- Solar panels include:
- 25-year performance warranty
- Can last 40+ years
6. Return of Investment
- Payoff time: 5–10 years
- Internal Rate of Return (IRR): 12–18%
➡️ Example:
- $6,500 investment
- 9.9% compound annual growth rate
- Over 50 years
7. Increase Home Value
- Study by Lawrence Berkeley National Laboratory
➡️ Home value increase:
- $35,466 on average
➡️ In Los Angeles County:
- Median home value: $494,500
- Solar adds ~7.17% value
8. Protection from Rising Utility Costs
- Utility rates increase by 3.78% annually
➡️ Solar helps lock in energy costs
9. Decrease Carbon Footprint
- 238 tons of CO₂ reduced
- Over system lifetime:
Equivalent to:
- 🌱 Planting 5,545 trees
- 🚗 Saving 476,000 auto miles or 24,276 gallons of gasoline
- ♻️ Recycling 752 tons of waste
- 🏭 Avoiding 231,912 pounds (116 tons) of coal burned
Source
- AWS Solar
- www.aws-solar.com