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Rooftop Solar Panels in California More Affordable Than Ever
For many California homeowners, installing a residential solar-power system is little more than an attractive dream: Sure, it would be great to sell power back to PG&E, and the environmental benefit is obvious, but solar installations are simply too expensive to be practical.
Or are they? The dream of a rooftop solar installation is quickly becoming a reality in California, with prices falling to that of a moderately priced new car and lenders increasingly willing to offer financing. Prices for solar systems have dropped more than 25 percent over the past two years, according to a report from the Solar Energy Industries Association. Reuters reported that a typical home installation today costs $20,000 to $30,000, putting solar power within reach of more homeowners than ever before. Many banks and specialty lenders now offer financing tailored for solar systems, which is bringing major changes to the market in California. Currently, most residential solar panels in the state are leased from third-party providers, but lower prices and new financing options are helping more homeowners to buy the systems outright and take advantage of tax credits that can be worth 30 percent of their value. Click here to read more (Image: Flickr/Thomas Hart)