Cost of solar in Lake Elsinore, CA

Electricity Consumption in Lake Elsinore

Electricity Consumption by California residents averages 573 kWh per month. It ranks #2 in the nation for savings from installing solar panels on the home.

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Solar power in Lake Elsinore, California

Southern California offers its customers in Lake Elsinore an excellent net metering program. Under net metering every kWh of excess solar generation exported to the grid you are credited on your bill. Usually your solar system will export more than the home draws from and this is credited at the retail power rate. SCE can either write you a check or you can use the credits to offset future bills for the next year. The new NEM-2 net metering rules require customers of investor owned utilities (most people) to switch to time of use billing reducing the returns by about 10%. Fortunately with excellent solar production in Lake Elsinore and the price of installing solar dropping it is still an excellent investment for your home or business.

The 30% federal solar tax credit also allows for 30% of the total system cost to be claimed as a tax deduction for systems of up to any size. This tax credit may also be spread over several years. Incentives like this cannot be taken for granted and with utilities and many lawmakers trying to kill the solar industry don't wait around!

Even if you are not convinced about solar we recommend that at the very least you use the solar panel calculator to find out:

 

Estimate your solar savings

 

Solar power in California

The average cost of installing residential solar panels in Lake Elsinore, California in 2018 is $3.63 per watt. The average system size in the US is 6 kilowatts, which means the average price of a solar system in Lake Elsinore, CA is $18,150. (before claiming 30% tax credit and other rebates)

What does the cost of a real solar system look like?

Facts about installing a 2.26kW solar system in Lake Elsinore, CA

This system would offset 100% of your energy usage if your typical monthly bill is $70, however your situation may vary so try our solar calculator to get a result tailored to you.

$6,423

Net cost of system
Cash - after 30% solar tax credit

6 Years 8 Months

Average payback time

3,333
kWh

Annual power production


/kWh

levilized cost of solar energy

45¢
/kWh

If you don't get solar
The forecast average utility price over the next 25 years

Cash flow graph based on cash purchase of this 2.26kW system

Life-time savings on this system over the next 25 years

$28,098

(Prices shown after repayments of capital)

 


 

Solar companies in Lake Elsinore, CA that provide pricing through the Solar-Estimate marketplace

220

 


Solar calculator and quote comparison tool

Average total cost of solar panel installation in California

System Size Cash purchase
After 30% solar tax credit
Financed purchase
After 30% solar tax credit
3kw $8,337 $9,004
4kw $10,808 $11,673
5kw $13,125 $14,175
6kw $15,246 $16,466
7kw $17,248 $18,628
8kw $19,096 $20,624
9kw $20,727 $22,385
10kw $22,260 $24,041

 

Design your own solar panel system for your home

Going solar in California

Check out all of the ways energy providers of California can help you be more energy efficient and save money.

The following programs are available:
Incentive Name Eligibility Type
Residential Renewable Energy Tax Credit Federal Personal Tax Credit
Find your local rebates and incentives

Please keep in mind that the best source of up-to-date information on incentives are the solar installers who specialize in your area.