Solar costs have been steadily decreasing year by year, leading homeowners to wonder if they should invest in solar NOW, or wait and save money on the installation costs. The overall financial savings that installing solar will provide come from several different areas, which don’t all have to do with the initial install cost.
Is now the right time to invest in your Solar Panel System?
The first cost associated with switching to solar power is the cost of the solar panel system. According, to Energy Sage the average 6-kilowatt residential system costs about $18,300 before taxes and rebates.
If the current solar trend continues, the cost of the solar panels themselves may continue to decrease bringing your initial input cost down. This is a fact that cannot be counted upon, and may end up costing you more in the long term. Changes in government policies, tariff agreements, and overall natural disasters all have the ability to increase solar panel pricing.
Another variable that will also affect your solar decision are the cost benefits you are missing while waiting to pull the trigger on renewable energy. First, you will still be susceptible to rising electricity costs from you power company. Electricity costs have been steadily rising for the last few years, and customers are now searching for other options. The average US home spends $1,400 per year on electricity. By installing a solar system you would be able to eliminate this annual cost, and protect yourself from rising electricity rates for every upcoming year.
The second variable that should affect your switch to solar is the the rising popularity of renewable energy. Currently, the federal and state governments incentivize home owners to switch to solar energy for the betterment of Americans as a whole. The current federal renewable energy tax credit is at 30%, but will start reducing after 2019. This is the LAST year to get the FULL federal renewable energy tax credit. To take advantage of the full tax credit call us today at (303)731-5198 or fill out this form.