Monalee is waiving the security deposit ($100 value) on new solar projects. Promotion expires 7/30/24.
For the second time this year, California homeowners are facing utility spikes.
It’s shaping up to be a cruel summer in California this year, with electricity rates about to spike for the second time this year.
Newsweek recently reported that California residents may see an extra $24 added to their electric bills starting this month (May). Despite many residents speaking out against the 20% rate increase, it looks like the California Public Utilities Commission (CPUC) still plans to move forward.
This is understandably frustrating for California homeowners. At the start of the year, Pacific Gas and Electric Co. increased residential electricity rates by about 20-percent. That price increase set homeowners back $34.50 each month.
It’s worth noting that California has some of the highest utility rates in the country. On top of that, California has experienced higher frequency (and length) of power outages in recent years.
If there was ever a time to invest in solar energy for your home, this is it.
If you’re a homeowner in California looking to live more sustainably while saving money every month on electricity, investing in a solar system helps you rely less on the local grid and achieve energy independence.
California has long-since been associated with sunshine and all-around pleasant weather. The average annual sunlight is 5,050 kJ/m² and the average temperature is 61.7 °F. It’s also part of the ‘Sun Belt,’ which refers to an area in the U.S. that is known for its mild, year-round weather. The Sun Belt stretches from California in the southwest to Florida and Virginia in the southeast.
As we’ve already covered, California is set to be hit with another utility price hike. Even small increases can cause financial stress to households just trying their best to get by. While January’s increase of $34.50 might not sound like a lot, it totals an extra $414 for the full year. Electricity bills are already higher in the summer months, mostly due to running air conditioning units, so homeowners are likely to feel this price increase more than others.
California homeowners are able to take advantage of several federal and state wide incentives for going solar. On a federal level, homeowners can receive a 30% tax credit on their installed PV systems.
Other incentives for California homeowners include:
There are a few other incentives that are available to California homeowners and make solar not only more achievable but a smart financial investment.
Studies show that homes with existing solar systems are an average of 4.1% more valuable than those without. When you consider that California is an in-demand state to live in, that small percent translates to thousands of dollars. Buyers are also more likely to pay above asking for a home that runs on solar because they know that their utility bills will be at 100% offset.
If you’re new to net metering, the best way to wrap your head around it is to view it as one type of billing tool. California is one of several states that offer this program. In short, it allows homeowners to sell the excess energy their solar systems produce to their local utility company. In return, they receive credits that they can use later on–for example, to power their homes during a blackout or during the night.
The short answer? Quite a lot. Below are two examples of California homeowners who chose to go solar with Monalee.
There are so many factors that go into designing a solar system and the material of the roof is one of them. It turned out that many installation crews are not experienced in working with metal roofs and therefore, weren’t able to take on his project. Rajesh found Monalee by chance, and was thrilled to learn that his metal roof wasn’t a problem.
Our team designed a solar system that included 13 QCELL 400 solar panels and an Enphase iQ8+ inverter. In total, Rajesh paid $9,282 after federal tax incentives, ultimately saving him $2,784 compared to other quotes. Before going solar, Rajesh paid around $175 on utilities and after his installation, he pays just $12.
Unlike most of the homeowners we work with, Saqib‘s home was already running on solar when he contacted us. After his first installation, he realized that he wasn’t offsetting his electricity bill as much as he had hoped, and he asked us to add 16 QCELL 400 solar panels to his roof.
After federal incentives, Saqib paid $11,515 for his Monalee project, which was $8,290 less than what other traditional solar companies charge. He went from paying $300 per month to his utility company to just over $50.
As rates continue rising, here are a few ways to keep your electric bill as low as possible.
Florida homeowners have many advantages, from an abundance of sunshine to lower install costs.
