Installing solar panels as a homeowner is a terrific way to save money on your energy expenditures for years to come. Since 2010, the cost of solar power equipment has dropped by 70%, and more than 10 million residences in the United States are now powered by solar photovoltaic panels on their homes, businesses, and farms.
If you’re considering solar energy, you might be wondering if it’s better to buy panels now or wait for costs to decrease even further.
This is a valid question, so we wanted to shed some light on the current economic situation to help you make the best and brightest decisions. Due to recent global and economic changes, there are several reasons why we encourage our customers to install their solar panels sooner rather than later.
Demand For Solar Really Ramps Up in The Spring.
Contracts that are sold in April or May will not be installed until June or July. The increased demand for solar energy in the early spring could potentially delay summer installs. Increased demand, along with the changes in the solar market will affect solar pricing as well. A changing market is a big reason why our proposals are only good for 30 days.
Solar Arrays Create the Most Energy in the Spring and Summer.
In terms of Net Metering for kWatt exchange, Solar arrays create the most energy in the spring and summer. Those are the credits that balance out the lower energy production in the fall and winter. To get the maximum use out of your solar array, it is best to install your system before the peak summer season. With the increasing solar demand and rapidly changing market, now is the best time to install. Installing now will ensure that your system is able to produce solar energy in the peak season.
Waiting to install solar panels means you’ll have to wait to save money on your energy bill, and you’ll end up paying more for it as energy prices climb.
- In 2022, residential electricity price is projected to increase on average at least by 3.8% when compared to 2021 in the U.S.
- In 2020, the average American household’s energy bill was $117.46 per month, or about $1,410 annually.
If you were to install a solar photovoltaic system that generated enough power to offset this bill entirely, you would be saving $1,410 in year one. With a 3.8% increase each year, your savings in year two grow to $1,464 and would reach $1,518 in annual savings in 3 years. After year three, your savings would only continue to climb as you avoid paying for rising electric costs.
Solar Sam’s Spring 2022 Savings
Because of the increased demand in the spring, in March we are offering $1899 off of any systems that make a decision before April 1.
As energy experts, it is our duty to ensure that all of our customers stay fully informed. We want to make sure that you are well-equipped with the knowledge necessary to make any decision in regards to purchasing a solar energy system. We hope that you find this article helpful, and we’d love to stay in touch. Contact our office any time to learn more about our spring savings program.
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