Solar Technology Trends for 2023

Arizona currently ranks fifth in total solar power installed in the United States. This is enough power to supply almost a million homes. Solar energy’s popularity is expected to rapidly increase in 2023 due in part to climate change, homeowner renovations, and the signing of the 2022 Inflation Reduction Act which includes solar incentives. The state of Arizona has about 50% more sunshine than the rest of the United States. Installing solar panels here makes investment sense as even a small solar array system can offset a large portion of your electricity bill. Here are some of the trends to look out for in 2023 as you consider taking advantage of the sunny conditions that our state offers.

Solar Storage

Reliable sources of clean energy are more important than ever. Especially considering rapid changes in the number of severe weather events and power grid outages. Solar batteries offer a way to keep the power on at your home when there’s a grid outage. Any time your home’s solar panels produce more energy than your home uses, the additional energy is sent back to the power grid. A solar battery allows you to store this excess energy at your home. Solar storage is the perfect energy source to power your home when the sun goes down to maximize the amount of renewable energy your home uses.

Solar Demand

Solar installations will continue to increase with the extension of the Investment Tax Credit to 30% until 2033. Homeowners that previously couldn’t afford solar are now incentivized to make the switch. There’s a 10% bonus tax credit opportunity for certain solar projects that utilize American manufactured and sourced components. Areas where solar energy will serve low-income districts and neighborhoods will have another 10% bonus tax credit opportunity.

Solar Windows

The push to move to renewable energy sources is driving the demand for manufacturing of other solar powered products like solar windows. Researchers at Michigan State University discovered the technology behind solar windows over eight years ago. Solar windows are manufactured out of a type of solar glass that absorbs ultraviolet and infrared light. The glass can turn these types of light sources into renewable energy. A useful technology for homeowners going solar.

Cool Blew Solar

Solar energy has a bright future which will enable higher savings on electricity bills. The sooner you begin installing solar panels, the sooner you’ll start reducing your reliance on electricity. The installation professionals at Cool Blew Solar are available to answer all your solar questions. Call us today at 623-234-2836 for a no-cost quote.

FAQ's

Is Solar Energy Expensive?

The size of your panel installation and the needs of your home will affect your costs. The average net cost of a 5.69kW system is $13,838 cash after 30% rebate (according to solar-estimate.org). An average-sized system can cost up to $35,000. Larger installations will require more hardware, planning and construction time. This can further increase costs. While solar panels are expensive, they have many distinct benefits. Cool Blew Electric & Solar’s experts can assess your situation and goals and recommend a cost-effective system to meet your needs.

How Much Can I Save By Installing Solar Panels?

An average-sized system (5 kilowatts) can reduce up to 50% of your monthly electricity bill. A 5.69kW system would offset 100% of your energy usage if your typical monthly bill is $138. Over a period of 20 years, these savings can add up to $30,000, based on your location and energy usage.

How Long Would It Take to Recoup My Solar Investment by Solar Energy Savings?

With a 5.69kW Solar system you would recoup your savings in 7 years and 2 months but with continuous Utility increases every year your Return and Investment will be much sooner.

What is a Solar Lease Program?

The Solar Lease Program has been one the most popular option that homeowners have chosen over the years. Solar Lease programs gives homeowners the opportunity to take advantage and put Solar on their homes and a guaranteed savings from their Utility for little to no money out of pocket. Most Leases are 20 year power guarantee from the solar provider and includes fixed monthly payments, no repair cost, fully insured and warrantied for the life of the system.

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