We have bragged about how much the price of solar panels and components has dropped in the last fifteen years. It dropped an astonished 80 percent as manufacturers enjoyed the savings of high volume production. In the last two years, trade wars, a pandemic and supply chain issues have reversed some of those savings. It looks like the incredible pricing is going to be a short term benefit. Even with new technological advances, shortages of polysilicon and steel combined with higher shipping costs and delivery delays indicate future cost increases. It may be winter, but now is the time to convert to solar power.
Avoiding Cost Increases
You can beat the clock, and enjoy current pricing by setting up your solar installation now. The current administration has enacted the renewable energy initiative and is offering incentives to Americans. Federal tax credit incentives still offer as much as 26 percent back on the cost of the system installation. Unfortunately, this credit is due to decrease to 22 percent in 2023. If cost has been making you doubt it’s time to convert to solar power, visit Renewable Solar Resources. They can assist you in connecting to affordable financing, so you don’t need to use cash on hand. In effect, you can begin realizing power savings without a dime out of pocket.
On the other hand, if you stay with Xcel Energy, you are guaranteed to face a price increase each year. If the proposed Excel Energy rate increases is approved, it will boost energy prices 20 percent over the next three years. With Minnesota Power, you still face a recently announced 17.5 percent rate increase. So if you do nothing at all about your electricity source, you will still be looking at a cost increase. The current rate increases are likely to continue while you could have already owned your own electric grid.
Get Lasting Relief From Rising Electric Costs
Solar panels are rated for 25 years, but homeowners around the country are reporting as long as 40 years and their panels are still producing power. Even with financing, solar power systems generally pay for themselves anywhere from eight to twelve years after installation. If you stick with the power company where you “lease” electricity, you will be paying from $17,000 to $22,000 in ten years, and have nothing to show for it but more increases. Most Solar panel systems would have been paid off by then and still function for another fifteen years or more.
Get on the List in Time to Convert to Solar Power
In Minnesota, a family run firm called Renewable Solar Resources has spent years working to support the transition to clean solar power systems on residential and commercial properties. When you contact them here or call Randy at renewable solar resources at (888) 432-9024, you can set up your free solar audit. A representative comes to the site to measure photovoltaic (PV) rays. And while the representative is there, they will audit your electric devices and appliances to share simple affordable ways to cut energy costs regardless of whether you switch to solar power or not. You save either way.
Renewable Solar Resources believes in a clean energy future and has found solar to be an incredibly reliable energy source even in the north. Solar panels, inverters and solar storage have continued to become ever more efficient. It is time to convert to solar power as a recognized, affordable renewable energy option today and in the future.