Are solar panels worth it in Riverside?
Smart homeowners everywhere are turning their rooftops into energy-generating machines because solar panels have never been more affordable. Not only is the upfront cost well below what it was just a decade ago, but there are also massive tax incentives (like the federal investment tax credit of up to 30%). And, as always, you can count on the long term value of your investment to steadily increase over time.
A solar panel system will generate a savings of $3,731 after 25 years. It is estimated that the panels could last beyond 30 years generating a lifetime savings of $24,886.
What is the new law in Riverside regarding solar panels that came into place in 2020?
Solar panels are panels made of silicon, which is a cheap but also effective material. A majority of solar power panels use silicon. The use of silicon is important because it is the second most common element on the planet. Therefore, silicon can be found in abundance, which allows for the creation of solar panels that are able to harness energy from the sun at a low cost.
What are the incentives and motivators to get solar in Riverside?
Electricity rates in Riverside, CA can outweigh the rates found in neighboring areas. Riverside residents are considering solar panel installation as an alternative source of electricity to power their homes.
If you’re a City of Riverside resident and a customer of Riverside Public Utilities (RPU), you’re in for a solar treat. Installing a solar system qualifies the homeowner for net metering rewards. The homeowner can receive credit back for any excess energy generated under either a monthly or an annual billing option.
To make sure you receive all the benefits of your new solar panels, you need to sign a NEM interconnection agreement with RPU once your rooftop solar system is installed.