The EIA expects crude oil prices to average $34/b in 2016 and $40/b in 2017. However, if oil prices reach $50/b, instead of decreasing, U.S. production will likely increase because many of the shale oil drillers on the brink of insolvency will view this as a Godsend and boost production to remain in business. They are just waiting to re-open the floodgates here.
Incentives for going solar. The typical home solar panel installation costs from $15,000 to around $40,000. The panels and operating system comprise half of the cost, while the rest comes from labor, permits, inspections and operational expenses.
Most homeowners are paying $3 to $4 per watt to have solar panels installed in Los Angeles, with the average cost of $3.57 per watt. Using 5-kilowatt hour translates to an average gross amount of $12,500 after the Federal ITC discount.