For anyone who recognizes just how amazing the potential of solar power can be, the question is not whether or not to invest, but only when is the right time to invest. Like any other industry, there are always going to be advances and innovations at different points in time, and for some people, this cycle of development feels like a confusing leap that can be an obstacle when deciding if its time to add a solar panel energy system. At Kosmos Solar in Grand Prairie, TX, our team of professional solar panel installation specialists has spent years working with residents and businesses throughout the DFW Metroplex, and we understand how confusing it can be to find the ‘right’ time to go solar.
Media headlines can sometimes make it look like an incredible new technology and a drastic price reduction is just around the corner for a variety of industries including solar power, so many people think they need to keep their plans for a new system on hold. At the end of the day though, it is important to ask if this really is a smart move. As a company that installs solar power systems, we naturally encourage homeowners to use solar now instead of waiting for later. Aside from our interest though, we have some good reasons to say that you don’t need to wait to get solar energy.
The Rate of Efficiency Increase is Slowing Down
Yes, solar power technology continues to improve. However, the efficiency increases in recent years have been around three percent more efficient. Homeowners who are still waiting for better technology are waiting for minimal increases in potential while losing out on regular energy savings at this point.
Still, some people might ask about the news stories that announce fresh innovations in photovoltaic technology. In reality, any progress announced today is far from being ready to go live on the consumer market, and it simply doesn’t make sense to keep waiting and hoping that these new scientific advances will be ready for use any time in the next few years, or even longer.
The Incentives to Go Solar Are Disappearing Quickly
The federal government’s current solar tax credit allows homeowners to reduce income tax obligations by 30 percent of their solar power installation costs. Right now, there are a number of state and local financial incentives also available in various areas. Anyone who takes advantage of these various discounts and credits can enjoy incredible savings at the end of the day.
These perks aren’t going to stick around forever though. Federal incentives are reduced every year and will disappear by 2022. State and local savings opportunities are also becoming increasingly rare. So, if you keep waiting for a solar power system to be installed at home, you will end up paying a higher price for the project.
Market Prices on Solar Power Systems are Evening Out
Another common reason people are still holding on their solar power system plans is the idea that prices in the market are declining steadily. At least, that’s what they are convinced of because of a few headlines in the media. The truth is though, the cost changes are no longer as dramatic as they have been in the past.
Years ago, homeowners waiting to install a home PV system saved a surprising amount by being patient. In today’s stable market though, waiting can save up to a few cents against the dollar if prices fluctuate at all. Large reductions in system costs are not a trend these days, so delaying solar energy is no longer a good strategy to save money.
Check with Kosmos Solar in Grand Prairie, Texas for All Your Installation Needs
If you’re looking into the ins and outs of adding a solar power system to your home or business, then it is understandable to feel frustrated and confused by all the information circulating online these days. Instead of struggling to make sense of everything alone, don’t hesitate to contact our team today so we can work with you to design the perfect system for your needs and expectations and help you save big on your energy costs year after year.