Residential Solar Energy Panels: The Next Big Thing

Solar panels are no longer beyond the reach of the average American homeowner. In fact, all data points to the fact that residential Solar Energy Panels will only become more common in the coming years.  The average installed price of residential and commercial solar photovoltaic (PV) systems fell between 6-14% last year.  This resulted in increased demand. Solar energy consumption in the first four months of 2013 was 1/3rd higher than the same period in 2012. Here we discuss all the possible factors that are influencing these trends.

Pricing

If you asked a residential Solar Energy Panels contractor for a quote 5-10 years ago, ask for a fresh one right away. The price of solar panels, especially for residential installation, have gone down considerably in the last couple of years.  Of course, solar energy prices have still not come down to enough to give fossil fuels competition, but this is offset by the fact that a quality solar panel provides great return on investment, to which will we return shortly.

The price of residential Solar Energy Panels can be lowered in a number of ways. For instance, one can use aluminum instead of copper as the manufacturing material. But the issue is that copper is necessary for quality, safety, and efficiency. In other words, the cost of a solar panel is justified with the quality it promises.

Innovations in Solar Technology

As the demand for Residential Solar Energy Panels increase, the industry is undergoing constant innovations. For instance, it is now possible to enhance the quality of the raw materials used. So even low-quality silicone-the main component of a solar panel-can be enhanced scientifically to give a higher power output. This once again means that you can get solar panels at affordable prices without giving up on quality and efficiency.

Financial Incentives

The financial incentives associated with the installation of residential Solar Energy Panels are one too many. For instance, home owners can get tax credits and state subsidies. Plus there are manufacturer rebates and even solar installation loans that make it easy for homeowners to acquire this technology. In fact, the increase in solar panels can purely be attributed to these financial incentives.

Cost Savings

Low prices and tax benefits are not the only benefits of residential Solar Energy Panels. Consider the implications of producing your own electricity via sunlight.  You will not have to pay electricity bills for as long as the panels remain functional. Plus, since they operate on sunlight, you do not have to spend any money on fuel as in the case of using generators.

Conclusion

The Solar Energy Industries Association (SEIA) reported a 2012 Q3 jump which triggered an increase in projects coming online in  quarter 4, the largest quarter in U.S. solar market history. This is good news for the 92% of Americans who feel it’s important to use and develop residential solar energy capabilities. Become part of this movement. Contact us to find a solar panel installer in your area.