Why people should go solar? The reasons to go solar are plentiful and right now it is booming in the USA. This is due to the low cost of solar, new technology, and environmental benefits. However, the foremost reason people go solar is due to them saving money on their energy costs.
We have come a long way since we first understood how the sun’s power can be harnessed. It would have been perhaps hard to imagine back then, all the benefits solar power could provide. But today, in the decade of a solar energy boom, it would be hard to avoid acknowledging them.
So, here we are with 4 most compelling reasons to go solar today:
#1 Solar power is locally produced source of energy
With all the unexpected events happening in a recent couple of years, the word ‘local’ gains more and more importance. Today you don’t need the utility to send electricity from a far location to your home or business. Further, we also have been through many uncertainties, diseases, natural calamities such as wildfires, hurricanes, energy prices skyrocketing, and fluctuations in the availability of natural gas.
Solar energy is based on a different model. Solar is local. As a matter of fact, in most cases, you have solar panels right on your own property and have access to them and power to control what happens with the equipment needed to generate energy for your home or business.
The solar energy industry supports local community and generates local jobs in the renewable energy field.
#2 With solar power, you can reduce your utility bills substantially
Solar panels and all equipment you need is a major investment, especially if you are planning to pay for everything upfront. Making the transition may seem expensive at first, but you should know that in most locations, your solar payback period should be less than 10 years. The below image might help you understand better:
Even if you still use some energy from the grid, you’ll be significantly reducing your spending for years to come. Reasons there being are some fixed misc. charges charged by your utility.
#3 Tax reductions and generous incentives are widely available
Incentives on residential solar energy are what make the whole difference, and they are the main reason why solar energy has become so accessible to many.
Yes, switching to solar energy is a major decision when it comes to finance, but right now you have the great advantage of reducing the final price of solar equipment. There are numerous incentive programs offered by the federal and/or state governments to promote the solar among the residents as well as businesses.
The most popular Solar Investment Tax Credit (ITC) is currently a 30% federal tax credit claimed against the tax liability of residential (under Section 25D) and commercial and utility (under Section 48) investors in solar energy property.
#4 Flexible options of financing your solar energy system
With solar energy you can start anywhere from zero upfront costs to paying the whole sum outright while benefiting from solar incentives.
The simplest choice is to pay outright for your solar panel installation. This means there is no complicated financing, no interest payments and no third party involvement – just you and the installer – and as the system owner you may be eligible to claim any solar grants or incentives on offer.
But we are well aware that this option is why many of us are thinking twice before making the decision of going solar.
You can get a loan, or a mortgage aimed at improving energy efficiency of your house/business. You also have an option to lease solar panels for 20+ years, or purchase the energy produced by solar array. These options often come at zero or a little upfront cost. This option is widely known as Power Purchase Agreement aka PPA.
We have another reason to go solar now. The most important one!
On Sep 29, 2022, Gov Newson signed into law AB 2143 – which requires ALL commercial solar system projects to pay prevailing wages for construction AFTER Dec. 31, 2023.
Paying prevailing wages almost DOUBLEs the cost of construction labor and it will have a significant impact on the project cost. It may seem that Dec 2023 is far away, but time goes fast with building and utility permit delays and supply chain disruptions. Our projects have been taking 6-12 months from signing to completion.
Please take steps to ensure that our projects under consideration get constructed in 2023. After that, we will have to pass on the added cost to you and will no longer be able to maintain the current pricing levels.
Please talk to us with any questions. Dail (+1) 408-780-2889