Why Now Is The Best Time To Go Solar
It’s fair to say that there are many homeowners who are considering solar power for their homes, but feel that it’s better that they wait.
The truth of the matter is that NOW is the best time to go solar. This article will discuss 3 primary reasons supporting this statement.
False Expectations – Technology Will Improve Dramatically
One reason holding people back from installing solar panels is that they think that the solar industry is just a few years from some major technology breakthrough. They believe that if they go solar now, they would miss out on reaping the benefits of what that technology promises. The misconception here is that solar cell tech could change dramatically at any time.
The reality is that solar cell science and development has been largely the same for decades. There have only been incremental improvements in solar cell efficiencies made over the decades. Science and tech websites are partly to blame here. They frequently publish articles about major solar cell breakthroughs that could revolutionize the industry. The fact of the matter is that just about all of these discoveries will never make it to the market. Even if one does make it and becomes a viable product, it still would not change things too much. We’ll consider reasons why in the next section of this article.
Panels Are Only 25 Percent Of Cost
What many homeowners do not realize is that solar panels only represent about 25 percent of the total cost of solar power. So if there are significant price reductions or technological improvements concerning solar panels, the total cost of going solar only partly decreases. Also, the costs involved with producing solar cells have fallen so much over the past few decades that they have basically hit rock bottom. They have gone from 70 dollars per watt to 70 cents per watt. Any minor decrease from here will have a very small affect on total price.
There is an economic principle that basically states an individual can miss out on the benefits of taking a certain action when choosing one alternative over another. In this situation, the question then becomes what would homeowners miss out on by waiting and not going solar now?
Well, for starters, they could start saving money immediately by switching to solar power. The simple fact of the matter is that at $0.06/kWh after incentives, solar power is cheaper than conventional energy across the United States. On the other hand, if homeowners choose to do nothing, they will continue to pay more than they have to for their electricity.
In conclusion, there are quite a few reasons why it makes sense to go solar now. Homeowners that are “on the fence” about whether they should wait or not should rest assured that the sooner they choose to install solar panels on their homes the sooner they can start saving money on their electricity bills.