|Adding Solar Panels in Redondo Beach?|
A few years ago I listed and sold a home in the Beach Cities that had Solar Panels. It would have been fair to say at the time that I didn't know what I didn't know about solar. Imagine my surprise when I found out that my seller clients had just signed a 20 year lease for the panels six months earlier. I guess they thought they would not be moving anytime soon. Whoops.
- Under state law, owners of rooftop solar systems benefit from “net metering,” a system that credits them for any electricity that they contribute to the grid at the same price they pay for electricity.
- These credits essentially are banked and are redeemed when the homeowners use electricity at night.
- Edison, for example, charges its customers a minimum of 15 cents per kilowatt hour for the minimal amounts of electricity needed for lighting, refrigeration and other basic needs before the prices go up to 21, 24 or 30 cents per kilowatt hours, depending on how much electricity is used.
Instead of getting credits worth 15 cents or more for their grid contributions, homeowners will get compensated 8 cents per kilowatt hour, which is comparable to the wholesale price that Edison pays power plant owners.