Is Now the Best Time to Install My New Solar Roof?
You have probably heard a lot about the benefits of having a solar roof, and these benefits are certainly not exaggerated. After all, solar panels on your roof can save you a tremendous amount on your energy costs. They could even eventually make your energy costs non-existent.
If you’re on board with solar, congratulations! Now it’s really only a matter of the timing. So should you get solar now, or wait for a more opportune time? Are there savings available to me in the future, or will I miss out on a good deal by not jumping on solar right away? Here’s what you need to know about getting the timing right when it comes to adding a solar roof to your home.
Solar Energy Is Becoming Cheaper All the Time
It may surprise you to learn that year after year, the cost of solar installation has been dropping dramatically. The Solar Energy Industries Association estimates that a residential solar installation now costs a whopping 65 percent less than it cost ten years ago. So if you opt for solar right now, you will still enjoy a very affordable system. But is it worth it to put it off?
The average cost of a 6-kilowatt system for your home is about $18,000, not including any incentives. If the cost-dropping trend holds, you can expect the price to drop about $150 each year. However, each year you don’t have solar installed is also a year that you will be paying full energy costs and not enjoying the savings that solar provides.
Consider the Savings From Multiple Vantage Points
How much savings you will enjoy with solar depends upon a number of factors, but keep in mind that as solar installation prices are dropping, electricity costs are concurrently going up. You might wish to calculate for yourself how much you are missing out in in savings by not having solar right now, but you will almost certainly find that it is more than $150 a year.
You will also have to consider what your local energy incentives are. If your city or state offers tax rebates or credits for going solar, those benefits may not be available indefinitely. Many of these programs were instituted when people were not as open to exploring the benefits of solar power for their homes, but the landscape is changing. If you wait a year or two, those incentives may expire, meaning putting off installing solar may not save you money on your system at all.
Another issue to keep in mind is that the current U.S. administration is not as favorable towards renewable energy sources as previous ones, and that trend may continue. Trade issues may also result in high tariffs on imported panels, which could also drive the price up. The continuation of the downward trend is by no means guaranteed.
Calculate Your Solar Savings Now
Since each state has different rules and incentives when it comes to solar power and solar installation, your first step should be to see what the landscape is for solar energy in your state. You can start by going to Calculatesolarsavings.com.
With Calculatesolarsavings.com, all you have to do is submit your zip code to find out how much you can save if you go solar right now, rather than putting it off. Armed with that data, you can make an informed decision about whether you want to look into immediate solar installation or put it off for a year or two. Try it now!