Recent cost reductions make it very affordable to switch to solar energy. But possible cutbacks in incentive programs mean that acting fast is a good idea.
If you’ve been taking a “wait and see” approach when it comes to making the switch to solar power, now is the perfect time to act. Reduced solar installation costs in recent years have made it more affordable than ever for homeowners to go solar, as evidenced by the upswing in residential facilities. According to the Solar Energy Industries Association, residential solar power installations rose by 37 percent in 2009 from the previous year.
There have been several factors which have reduced the solar cost of installation for homeowners across the country. New federal, state and local incentive programs have offered some owners direct financial benefits for using alternative energy sources. Innovations in the installation process have also helped to decrease the costs for residential customers who want to make the switch to solar power.
Companies are employing distributed electronics into photovoltaic energy cells which allow them to harvest energy more efficiently. Mounting is another area of installations where costs have gone down in recent years. An increase in turnkey mounting solutions for solar panels has made it more affordable than ever for installers to quickly get solar panels in place and ready to use.
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A reduction in the price of silicon used in producing home solar panels has also been responsible for a drop in the cost of equipment. Silicon is a semiconducting material and is frequently used as the primary source for absorbing sunlight and causing the electron movement which eventually creates electricity. The cost of a silicon wafer is up to 45 percent of the total cost of some home solar panel set-ups. Reductions in the cost of silicon have driven the overall costs of solar panels down as well.
Installation prices and equipment costs for solar power are at an all-time low, leading some people to wonder if it makes sense to wait longer and see if costs continue to fall. However, there has never been more incentive programs designed to reward residential owners for using alternative energy. With the continuing flux of the economy, it’s difficult to predict if this level of incentives will exist in the future, making now the perfect time to switch to solar power.
