Top 5 Reasons to Go Solar Right Now

| 2/18/2016 10:56:00 AM

Tags: solar power, home energy, solar financing, Simone Garneau, Quebec, Canada,

Solar Energy Green Home

Do you know that only 1% of homes in the United States have solar panels today? This may not sound like much but it’s actually the result of an exploding solar market. There’s every indication that within the next ten years, solar power will become ubiquitous.

In many ways, today’s solar energy market is like the smart phone market of ten years ago. Disruptive change is around the corner, and here are the top five reasons to go solar today. 

1. Favorable Legislation

The federal investment tax credit (ITC) for solar energy was recently extended so that it will remain at the 30 percent level through 2019 and then ramp down over the following three years, before being eliminated completely for residential customers. This is essentially a 30 percent discount on your solar system courtesy of Uncle Sam, for those of you who opt to purchase your system (with or without a loan). Those who lease or go with a Power Purchase Agreement (PPA) are not eligible to claim the ITC.

2. Stabilizing Costs

Over the past decade, the cost of going solar has plummeted. It has never been cheaper to go solar, especially when you factor in financial incentives like the ITC. However, the rate at which these costs are coming down is slowing now and we can’t expect to see the same rate of decline in future years.

Equipment prices have taken the most dramatic plunge, but it’s the other so called soft costs, related to customer acquisition, permits and site design, that are more stubborn and difficult to budge. These will continue to decrease, but not at the rate equipment prices fell.

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