There has never been a better time than the present to go solar, as the cost of solar power has plummeted over the past four decades. The greatest cost reductions occurred in just the last few years, too. As a result, many former skeptics of solar energy are taking a step back and realizing the financial benefits they could reap if they decided to make the switch.
Solar panels were once seen as a luxury for the elite. However, it’s becoming increasingly clear that this stigma is no longer accurate. Solar panels are extremely affordable for the average consumer, as they’ve dropped in price as much as 70 percent over only the last decade. Going solar now just makes more sense than being chained to the utility companies, and disadvantages are few and far between.
The rapid decline in the cost of solar power is due in large part to the dramatic reduction in the cost of photovoltaic (PV) cells. PV modules have fallen in price by 99 percent over the past 40 years, and this decline in cost shows no sign of slowing down. This drop in price can be attributed to policy changes and major advancements in solar technologies.
PV cells have become much more efficient at converting sunlight to electricity and improved production processes have greatly cut the number of defective cells produced. So, the yield is higher than ever and production waste is greatly reduced. This results in more affordable and more energy-productive solar modules. With panels being more efficient and durable, fewer panels are needed to power homes and businesses. Pair this with more efficient components that are available, like inverters and battery storage systems, and this will bring even more savings.
Homeowners in the U.S. can hit break-even points with solar in as little as three years and see payback periods between five and eight years, with savings estimates upwards of $20,000 in 20 years.
Since solar power is a free source of energy, once you’ve installed PV panels on your business or home, maintenance is minimal and returns are high. Not to mention, Green Home Systems and our partners offer some of the best warranties in the business. We’ll be there with our customers from the very beginning through the entire lifetime of their system.
So why wait to reap the rewards of affordable, efficient, clean solar power? Plus, consider pairing your solar panel system with an energy storage system for even more savings.
Luckily, we can help you. Schedule your virtual appointment with one of our energy advisers today!