According to the EIA, some 5.3 gigawatts of household solar capacity is forecast to be installed in the US this year. In fact this figure is enough to match the total of rooftop solar capacity back in 2015.
That forecast also reflects the biggest annual figure for new household installations. So clearly, the residential slice of the solar energy pie is doing its part. What is keeping household solar power growing at a steady pace?
More tax credits stimulate household solar adoption
There’s just no way around it. If governments want to spur homeowners to engage in renewable energy, tax incentives are the way to go. For example, a Pew survey noted 39% of homeowners in the US have thought seriously about solar panels. Interestingly, this was before the announcement of a fresh set of federal tax credits.
Thus having solid incentives attached will help nudge prospective solar power customers towards installing household panels. In addition, these credits help offset the initial cost of purchasing a system. In fact, customers invariably get more value with these offers available. Making things easier on the wallet will make people decide faster.
Lower price points
While solar panels are easier to purchase than ever, they still come with costs. That’s why it is key for manufacturers to offer panels and systems at prices that are palatable to consumers. After all, people are always keen on preserving their budgets. This is especially true at a time when energy prices are high and inflation is at record levels.
Hopefully, supply chain issues that still plague the world in the aftermath of the pandemic will soon behind us. This will further drive down costs to make it easier on homeowners’ budgets. Plus, options will be more readily available for many locations.
Keen interest in sustainability
To be fair, it’s not just all about saving money. Most people who have solar panels installations at home did so both to save money and to help the environment. Generally, people today are just more conscious of the whole climate situation. Alson, they want to be smarter about their day-to-day lives, and will choose environmentally sound avenues where possible.
The key now is for the industry to capitalize on such heightened awareness. Renewable energy, after all, is at the forefront of a sustainable future. If the products can match the expectation of consumers, then things will more easily fall into place. Helping the environment while helping individual homes financially is a great promise held by rooftop solar.
Learn more about how household systems benefit you
A unique set of circumstances is making solar and other renewables even more attractive these days. Rooftop solar is expected to continue its upward trajectory in the near future. For households, now is a great opportunity to invest in a solar panel system.
If you are interested in solar for your home, contacting the premier solar panel system company in your area is great idea. At Renewable Energy Corporation, we are more than eager to give you the lowdown on what it takes to have a home with solar power.
Contact us today, and see how it can benefit you.
The US Utility Sector is experiencing massive power demands due to the COVID-19 pandemic. Disruptions could occur at any time.
With a properly installed Solar power supply:
- Your electricity feed will remain secure
- If the power goes down, you won’t be left in the dark
- All essential appliances will continue to work
- Wi-fi and internet connections will remain operational
- You will be unaffected by the inevitable increases in utility costs
- Remain safe and secure while continuing to work from home
Play a role in benefiting the environment by switching to economical, clean and renewable Solar power for your home or business. Get a no-obligation free estimate today!
Contact Renewable Energy Corporation and let us answer all your questions. We can even supply estimates remotely online.
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