With rising concerns about the environment and sustainability, there is growing global pressure to adopt clean energy and renewable resources. A greener future may come closer than we think.
Since 2008, the United States has doubled it’s renewable electricity generation, with 90% of our green energy being produced by wind and solar power. Overall, renewable energy provides 17% of the country’s total electricity generation.
While solar energy has always existed as a green alternative, new technology, and the push towards a sustainable future means a solar-powered home is more attainable than ever. It’s becoming a new standard as California’s recent decision shows.
There are many financial and environmental benefits from switching to greener energy. This guide is here to offer information on the best time to go solar, state and local incentives, the affordability of solar energy and other common homeowner questions that can arise.
The Time to Install Solar Panels is in 2019
If you’ve ever considered solar, 2019 may be the best year to do so.
In California, solar prices have dropped 34% in the past five years. While equipping your home with solar panels can seem like an expensive upfront cost, the market is changing rapidly.
The reality is that there are many federal and state incentives that can dramatically reduce your cost.
For example, the federal solar tax will refund back 30% of the total cost – even for fees such as consulting with a solar professional – regardless of how expensive the project is.
In two years there will be no solar tax credit! If you’re considering solar energy, the time is now.
However, beginning in 2020, the tax credit will drop to 26%.
The following year, in 2021, the solar tax will drop to 22%.
In 2022, the solar tax credit for residential properties will become obsolete.
How much will your electricity bill decrease with solar panels?
One of the factors in determining if solar panels are worth it for your home is the location. If you live in an area where electricity costs are high, solar energy can be very beneficial in reducing the cost.
It’s hard to determine precisely how much you can save on your electricity bill after going solar. It depends on factors such as:
However, general electricity costs are increasing nationwide. So while installing solar panels now may save you hypothetically $110 off of your electricity bills, that savings will become more meaningful in the future depending on how costs change.
What if you plan to move in the future?
The ideal situation is to live in your home long enough to let the solar panels pay themselves off.
Of course, life happens, and it may be inevitable that you choose to move in the future.
The housing market is difficult to predict, but research shows that solar panels typically increase the value of the home – especially if you live in an area with an active solar market.
A successful project always starts with a smart design. Westcoast Solar Energy systems are designed in-house to ensure that our high standards are met and that our customer gets the maximum benefit from their solar array.