Here’s Why You Shouldn’t Delay a Solar Installation
Solar energy provides remarkable cost-saving benefits, in addition to helping make your home more sustainable and reducing the impact your energy consumption has on the environment. When first introduced, solar panels were expensive to manufacture and install, but prices have declined year over year since then. So with solar panel prices declining, why should you schedule your consultation with a reputable solar company in Denver now rather than later?
Elite Roofing & Solar is the leading solar company serving Denver and Colorado’s Front Range. As a local business, we want to best serve the needs of homeowners in our area and help maximize their savings over time. With declining incentives and the immediate cost-saving benefits of solar energy, there’s definitely more reason to schedule a solar consultation now than to leave installation for a later date! Let’s take a closer look.
Why Delay? Declining Solar Panel Costs
The reason that some homeowners may be considering delaying a solar panel installation is because solar panels have generally become less expensive to manufacture and install over time. In 2017, the cost per watt for a solar panel array was around $3.17. That cost declined each year, to around $2.77 in the second half of 2021.
Still, while costs have declined with time, the rate of decline has generally decreased. In addition, supply chain issues figure to offset the expected decline in cost for solar panel arrays. This means that the cost savings of putting off scheduling a solar panel installation from a Denver solar company will likely be very minimal.
The Advantages of Installing Now
While the cost benefits of installing a solar panel array later are relatively minimal, there are many significant financial benefits to installing sooner rather than later. Let’s take a look at some of the most significant.
Take Advantage of the Best Incentives
As solar panels grow in popularity, solar panel rebates and other incentive programs will shrink. We’ve already begun to see this with the federal solar installation tax credit. Currently, the credit allows for up to 26% of the cost of a solar panel installation to be deducted from your taxes. However, in 2023 that credit drops to 22%.
As more and more homeowners add solar to their homes, this incentive figures to drop further—so it’s a good idea to book your consultation and complete the installation sooner rather than later!
Immediate Energy Savings
While you may save some money on the cost of solar panels by waiting another year or two, in the interim you will continue paying the same amount for your energy bills. This increased energy cost will likely offset any savings you may get by waiting.
In addition, the amount you’re paying for electricity will probably continue to rise in future years. On average, electricity prices have risen by around 20 percent over the past 10 years, meaning your current utility bill will likely grow as you wait for the right time to install solar panels.
When you hire a Denver solar company to install a new solar array on your home, however, you can start reaping energy savings immediately. As traditional utility bills rise, the savings you accumulate with solar panels will continue to grow with time—and the sooner those savings start, the more money you can keep in your pocket!
Elite Roofing and Solar: Leading Solar Company in Denver
Elite Roofing and Solar is the leader when it comes to solar installation throughout Denver and the Front Range. Through our partnership with SunPower, we’re able to provide the best solar panels available on the market, while our roofing expertise will ensure that your roof is in excellent condition and will support your solar array throughout its expected lifespan.
Don’t put off your solar installation! Book your solar roofing consultation today.