Why Is Solar Becoming Expensive?

Thinking of going solar? Then you have to act now! Huge benefits of going solar will be disappearing very soon – the solar Investment Tax Credit is still at a rate of 26%in 2022, however, it will start declining in 2023 and eventually end for residential solar installations in 2024.

For individuals who are eligible for the ITC, purchasing a solar system this year may still be viable despite the possibility of increasing project prices.

Higher demand for solar is being driven in part by rising environmental concerns, rising energy cost worries, and the ITC incentives.

solar on the roof
solar in the park

The Federal Solar Investment Tax Credit and falling home solar panel prices over the past ten years, among other things, have contributed to the increase in interest in solar energy.

Falling hardware prices, particularly those of solar panel components, which fell by 85% between 2010 and 2020, are largely to blame for this development.

Despite rising solar component costs, the solar Investment Tax Credit is only offered at a 26 percent rate through 2022.

solar graphics
solar graphics

If you’re considering installing a solar system on your home, speak with one of our qualified professionals who can help you make the switch in a timely manner and get the most out of solar benefits. Please contact us at (833) 820-8080 or fill out the form below, and one of our solar experts will answer all your questions.

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