Since solar panel prices have dropped by 50% in the last five years, there is the question of whether you should go solar now or wait for the prices to drop even more. That depends on a number of things such as the size of your house, your average monthly PG&E bill, and how much sun your house receives. Luckily there is an online tool called Project Sunroof that you can use to see how much solar panels will cost and how much you’ll save depending on whether you lease or buy. The CEO of Solar City, Lyndon Rive, says that now is the time to invest in solar panels, and here’s why:
- Electricity Prices Are Rising
- Solar Panel Prices Won’t Drop Very Much
- Federal Tax Incentives
- Payment Options
- Go Green Now
Every year electricity prices rise by about 2.2% So the longer you wait, the more you’re paying each month through your PG&E bill.
Even though solar panel prices have dropped by 50% in the last five years, doesn’t mean that it will do again in the next five years. Lyndon Rive predicts that solar panel prices will just 3% to 5% in the next five years. He says that you’re better off going solar now and experiencing these savings right away. Plus, it is good for the environment.
Solar only provided .39% of the United States energy in 2015. But it is getting more and more popular each year. As it gets more popular federal government will likely take away the incentives because too many people are getting them. Right now you can get back 20% of what you paid for your solar panels, saving you thousands of dollars. The prices won’t go down enough to save you that much money, so you should take advantage of the incentives while they are still offered.
We all know that installing solar panels is expensive, but there are ways to help you. California offers a number of options such as a home equity loan, power purchase agreements, solar leases, and a solar investment tax credit.
Solar panels are 100% pollution free! It is one of the cleanest sources of energy because it doesn’t emit any pollution when it is produced or consumed. Conventional electricity generation adds to carbon dioxide and other air pollutant emissions. Getting your energy from the sun will never run out, unlike fossil fuel resources, and it doesn’t require fossil fuel extract which damages the land.
About Highlands Energy
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