The Time Is Now To Go Solar
Solar has grown immensely and steadily in the past 5 years. The introduction of ITC (Investment Tax Credit) has been the single biggest drive in encouraging homeowners to go solar – it has made the costs of solar come dive by whopping 70% since it started in 2006. Besides the federal tax credit system, there’s a myriad of other financing options and net-metering. These options help homeowners with the upfront costs, but net metering also allows some owners of residential solar manage to cancel out their utility bills.
In the first quarter of 2015 US solar capacity has risen by around 2.7 GW (around 4.6 million homes) and in the second quarter by around 1.4GW, marking a milestone for the States because now there are over 20GW of solar power coast to coast. Unfortunately, it’s not likely they will.
The current net metering system gives homeowners an opportunity to zero out their bills in the next 20 years. However, when residential solar reaches a 5% take up of SDG&E territory, net metering will become less favorable. Judging by the current growth, it is expected that residential solar will rise to 5% penetration in the first quarter of 2016. All the homeowners who get a solar before that period will have net metering options under the current conditions.
Another thing is that the present federal tax credit incentive is expiring at the end of 2016, which means that the price of solar installation will hike by 30% then.
Going solar before the first quarter of 2016 will allow homeowners to invest more money into their PV system. It will also be possible to have the system installed for the smallest possible budget, since the price of materials and installation itself will jack up when the tax credit system runs out. A third of the costs covered by the government is quite a relief for your wallet. Plus, you’ll be able to cancel out your utility bills or significantly reduce them for the period of next 20 years. And one more reason why it’s better to go solar sooner rather than later – an increased demand is expected to take place quite soon as people start to realize solar is the most affordable just now. A larger demand entails longer waiting periods – so the sooner you jump on the bandwagon, the sooner you’ll have clean solar energy for your home.
If you are considering going solar, don’t hesitate to call us for a quote. We are ready to answer all your questions and provide you the most accurate information regarding residential solar, so you can make an informed decision. Our company is based on trust, premier products and first-class workmanship. We deliver what we promise. Contact us today!