Have you been interested in installing a solar energy system in your home or business, but have always found a reason to wait? Now is the time to act. Many of the reasons for waiting no longer apply. Considering these five solar energy facts may convince you that this is the year to go solar.
1. Technology Development Is Incremental
In the past, solar panel efficiency improved by leaps and bounds. Each new generation of solar panels were significantly better than the previous generation. You had a good reason to wait for the next generation technology to hit the market. It would certainly be more efficient than what was available.
This is no longer true. The technology development has slowed, and while the technology will continue to improve, the system you install this year will be competitive with new systems in for the foreseeable future.
Many are looking for the next generation of solar technology, but it is going to take some time for this technology to move out of the research and development phase. If you wait, you are going to lose a significant number of years where you could reap the benefits of solar technology.
2. The Cost of Solar Panels Is Stabilizing
Once you could expect the cost of solar panels to drop year after year. You could justify waiting because the price of a solar energy system would be significantly less expensive next year.
Now the cost of solar panels has stabilized. You cannot expect significant savings by waiting another year or two for the prices to drop. This is it. Prices are as good as they are going to get. These two solar energy facts line up in favor installing solar energy now.
3. Electricity Costs Continue to Skyrocket
The benefits of solar energy look more attractive when electricity costs are soaring higher. A clear trend has developed: steadily increasing electric rates. Converting to solar energy will radically lower your electric consumption from the grid. This translates into even more savings from your solar energy system. You will stave off the increasing cost of electric power from the grid.
4. Less Attractive Rebates
People who have installed solar energy systems in their homes or businesses have reaped the benefits of tax breaks and rebates. One of the most important has been the Solar Investment Tax Credit that offers 30% rebate off the installation of solar energy systems. This tax credit is set to expire at the end of 2016. It will drop to 10% for commercial systems and nothing for residential ones. If you want to claim this impressive tax credit then you will want to install your solar energy system before it expires. The tax credit may be renewed, but why risk it. Take the credit now, while you still can.
5. Net Metering In Maryland
One complaint about solar energy has been that you still must use electricity from the power grid when the sun is not shining. The net metering program sponsored by Maryland means that excess energy generated by your solar panels is credited to your account. When your system is generating more than you need, you are earning credit that you can use for power when your solar system is not collecting energy. This incentive makes installing a solar energy system very attractive.
The stars really are aligning to make solar energy an attractive option for your home or business. These solar energy facts strongly indicate that now is the time to go solar. There are no more good reasons to wait.