If you’re wondering when is the best time to invest in solar, the answer is ”right now.” The cost of solar panels is currently at a record low, but it might not stay that way for long. Read on to find out why you may need to act quickly to take advantage of the record low residential solar prices.
The investment tax credit that is fueling the solar industry is set to expire at the end of 2016, which could lead to rising prices after that date. That means we may be in the midst of the lowest residential solar prices of the decade. Once the tax credit expires, solar system prices will rise as solar installers find it more difficult to make a profit.
Don’t worry; it’s not too late to take advantage of low solar prices. The tax credit is due to expire at the end of 2016, so the boom is expected to continue until then. In fact, Greentech Media predicts that the U.S. solar market will experience a massive growth of 55 percent in 2016. That’s double the growth rate predicted for 2015. The United States now has enough solar power capacity to supply more than 4.3 million homes, according to a recent report.
Although the growth of the solar industry is expected to continue until the end of 2016, don’t assume that prices will stay low throughout that time. With so many homeowners rushing to take advantage of the benefits of solar power before the tax credit expires, solar installers could reach a point where they need to raise prices to deal with the increased demand. Beat the rush by acting now on your decision to install a solar system for your home.
To ensure that you get the best price for your solar system, act quickly. Contact EcoMark Solar today to find out more about solar panels or request a free consultation.