Should I wait to go solar?

Our recommendation? Go solar as soon as possible! Here are a few reasons why:

#1. Local solar incentives generally decline as more people go solar

State and local governments often launch new rebate, tax credit, or performance-based incentive programs to incentivize new solar installations and meet renewable energy targets. That said, it’s common for programs like these to phase out as solar becomes more popular and goals are met.

#2. Electricity prices are rising and cutting into potential savings

The longer you wait to go solar, the longer you’ll keep paying high electric bills – which are getting higher by the day. Electricity prices have risen more than 20% over the last 10 years, and will likely rise another 2-3% each year moving forward. Imagine what you could have saved if you went solar a decade ago!

#3. The federal investment tax credit (ITC) won’t be around forever

The federal ITC is scheduled to step down to 22% in 2023 and expire for homeowners in 2024. Commercial properties will still be able to claim a credit 2024 on, but only 10%. Going solar sooner means maximizing your tax benefit.

#4. Solar costs aren’t decreasing like they used to 

For the first time since EnergySage started tracking solar prices, the average price per watt ($/W) on our Marketplace increased between the first and second halves of 2021 by 0.4%. It’s no longer safe to assume solar prices will drop moving forward, at least enough for the wait to be worth it.

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