5 Reasons Why You Shouldn’t Wait to Go Solar

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Still not sure if you want to go solar? Here are the top five reasons why there’s no time like the present to make the switch.

1. The Solar Investment Tax Credit Is Expiring

Passed in 2006 to help drive the growth of the solar industry, the ITC is expiring in 2021. This year, 26% of the total cost of your solar investment is returned to you in the form of a dollar-to-dollar tax credit. So, if your solar system costs $30,000, you’ll owe $7,800 less in federal taxes. This credit can be applied to the cost of panels, components, installation and even batteries.

2. Electricity Rates are Skyrocketing

Across the country, electricity rates are rising fast. By installing solar on your home or business, you can stabilize your energy costs and protect yourself from unpredictable electricity rates that can take a bite out of your monthly budget.

3.Solar Panels Are Increasing Home Values

With mortgage interest rates at historic lows, the real estate market is hopping. And the price of homes is rising quickly. One of the ways to increase your home’s value is to install a solar system. According to Lawrence Berkeley Labs, a system has a 45% return on investment. Compare than with a bathroom remodel with a 2% return or a kitchen remodel with a 2% loss.

4. Solar Panel Efficiency Is Plateauing

As solar technology has improved, so has solar panel efficiency. Today, panels are more efficient than ever, but the rapid increase in efficiency that has taken place year-over-year is beginning to slow down. Thus, it no longer makes sense to wait to go solar to gain greater efficiency. By getting in now, you can take advantage of the tremendous gains in efficiency that have already been achieved.

5. Solar Panel Prices Could Increase

With solar rebates and tax credits beginning to expire, solar panel costs may likely rise. As incentives disappear, homeowners’ will require longer periods of time to experience measurable ROI on their purchases. Thus, this could potentially create a supply and demand issue that increases the price of panels.

So, now you have the reasons why it makes sense to switch to solar. Want to get started while the ITC is still 26%? Call Cool Blew Solar today at 623-234-2836.