Secure Your Solar Net Metering Rates In California By April 13, 2023

New rates hit California effective April 15, 2023

Californians will benefit from purchasing residential solar before the April 13, 2023 deadline in order to maintain current net metering rates. Net metering rates were slashed by 75% for new solar panels, replacing the old rates with varying payment rates based on the time of day and electricity demand. The purpose is to incentivize individuals to purchase solar storage batteries to reduce energy demand during peak usage hours. This only impacts new solar owners after the April deadline. All of this information has been sourced via the California Public Utilities Commission. In order to take advantage of the current payout rates, new solar projects will need to have an Interconnection Application submitted by the deadline to be grandfathered into the current rate. If you are seeking to move quickly on this opportunity, EcoWatch has the perfect tool to help you get started on your solar project. By entering your zip and taking our quick solar quiz, you can connect with a local professional to get your project started before the state starts enforcing the lower export rates.

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Projected lifetime savings over time, based on purchase type

Lifetime Graph

If you have the funds, paying in cash will maximize your long-term savings. For those without the necessary cash flow, a solar loan will make the most sense. Leases, for the most part, are still guaranteed to save you money, but they come with fewer benefits and less flexibility. To get a quick estimate of the lifetime savings you could experience with solar, use our solar calculator quiz.

Avg. lifetime savings over 25 years (10 kW)

$62,059

Avg. payback period

7.5 years

Avg. cost without tax credit (5-10 kW)

$14k-$27k

Avg. cost with tax credit (5-10 kW)

$10k-$20k

Avg. cost (in CA)

$2.73/watt

Avg. annual power production (10 kW)

18,280 kWh

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How much do solar panels cost?

Home Solar System Size

U.S. Solar Panel Cost

Cost After Federal Tax Credit*

6 kW

$15,960

$11,810

7 kW

$18,620

$13,779

8 kW

$21,280

$15,747

9 kW

$23,940

$17,716

10 kW

$26,600

$19,684

11 kW

$29,260

$21,652

12 kW

$31,920

$23,621

Cash purchased Before 26% solar tax credit

$2.73 per watt

Financed Before 26% solar tax credit

$3.05 per watt

Leased Estimate for average lease cost

$50-$250/month

Pros and cons of installing solar panels

Homeowners should keep in mind their expected solar panel payback period, or the amount of time it will take to recoup their investment, by state. The cost of your home solar system can vary greatly, depending on the total federal and local tax credits.

Not all systems completely offset the energy you’d typically purchase from your utility company. But solar panels can increase your property value by up to $15,000, according to the Department of Energy.

Most residential solar systems will produce electricity for 20 to 30 years and require very little maintenance. The costs/savings vary based on how you purchased the panels (bought outright, financed, or leased). To get a quick estimate of what you can save by making the switch to solar, use our solar calculator quiz!

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Electricity produced by solar panels

The best way to determine whether your home is a good fit for solar electricity is to contact a solar installer in your area. A solar energy specialist can come to take a look at your home and give you a custom recommendation.

Solar panel efficiency can convert over 20% of the sunlight’s energy into electricity, especially if your roof is obstructed by little shade and faces south or west.

Solar rebates, incentives, and tax credits

In states that have a solar sales tax exemption, the purchase of solar panels may be shielded from sales tax. Currently, at least 25 states offer a solar sales tax exemption and 36 states offer solar property tax incentives. By using our solar calculator quiz, you can check the incentives that are available for you!

Year Placed In Service
Federal Solar Tax Credit

2021

26%

2022

26%

2023

22%

2024

10% (for commercial installations only)

Year Placed In Service

2021

Federal Solar Tax Credit

26%

Year Placed In Service

2022

Federal Solar Tax Credit

26%

Year Placed In Service

2023

Federal Solar Tax Credit

22%

Year Placed In Service

2024

Federal Solar Tax Credit

10% (for commercial installations only)

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EcoWatch

The information on our website is general in nature and is not intended as a substitute for competent legal, financial or electrical engineering advice. As forecasting solar savings involves assumptions about future electricity prices you should be aware such estimates are inherently uncertain.