When it comes to installing solar panels in Bakersfield and Los Angeles, the costs and benefits vary depending on several factors including system size, equipment and available incentives.
Bakersfield Solar Panel Costs
In Bakersfield, the cost of solar panels as of 2024 averages about $2.73 per watt. For different system sizes, the price before any incentives can range from approximately $8,199 for a 3 kW system to about $27,332 for a 10 kW system. After the federal Investment Tax Credit (ITC) is applied, these prices can be significantly reduced, making solar panels more affordable. A 5 kW system, for example, could cost around $9,566 after ITC. With the average savings on your electric bill and other benefits taken into account, solar panels are considered a worthwhile investment in Bakersfield, promising a payback period of about 6.98 years and a total savings of $57,619 over 20 years.
Cost of solar panels in Los Angeles
In Los Angeles, the cost of installing solar panels in 2023 averages about $2.99 per watt. A 5 kW system could range from $12,691 to $17,171 before incentives. It is expected that the average costs, after the incentives, will be lower, and the specific figures depend on the size of the system, the type of panels selected and the engaged solar company. For a broader perspective, a 5 kW system costs about $14,550 before incentives, and a 10 kW system could cost about $29,100.
Solar incentives and benefits
Bakersfield and Los Angeles residents can take advantage of federal and state solar incentives, including the Federal Solar Investment Tax Credit (ITC), which allows 26% to 30% of the cost of a solar system to be deducted from federal taxes. California also offers net metering, allowing homeowners to receive credit for excess electricity generated by their solar panels. In addition, programs such as the Self-Generation Incentive Program (SGIP) and property tax exemptions for solar installations can further reduce costs.
Solar installations offer significant long-term savings on electricity bills, increase property value and contribute to environmental sustainability. In Los Angeles, the city’s commitment to renewable energy and sunny climate make solar installations particularly favorable, with a goal of achieving 55% renewable energy by 2025 and 100% by 2045.
To maximize savings and ensure you get the best deal, it’s recommended to get multiple quotes from reputable solar installers and explore different financing options, such as solar loans or leasing. This approach helps compare the costs and benefits of different options available in your area.
