There has been a significant and steady drop in the upfront costs associated with solar electric system installation. Looking at this trend from the last couple of years, it is expected that the hardware costs involved in such projects will continue to drop.
If you have been putting off your solar system installation because you are waiting for the prices to drop even further, you may want to think again. This is not as cost-effective as you might think for the following reasons.
Energy Costs Will Add Up
Every month you wait, it's another month when you have to part with a good sum to pay your energy bills. The price of electricity and gas fluctuates greatly, depending on several factors. Should the prices hit sky high and stay there for a couple of months straight, you may find yourself spending a lot on just this one expense.
Solar electricity, on the other hand, is comparatively affordable. Invest in solar electric system installation today, and you can expect to save up big every month. These savings do quickly add up, and you should be able to recoup the money you put into the solar electric system installation within a couple of years.
Missing Out on Incentives
A decade ago, for various reasons, including the upfront cost, not many gave solar electric system installation a second thought. Thanks to rebate programs and other incentives by government agencies and solar product manufacturers, installing a solar electric system has become more affordable. Many home and business owners are taking advantage of these incentives and completing their installation projects.
What you may not be aware of is that there's no guarantee these incentives will be around forever. If anything, these incentives are for early adopters. This means, if you keep waiting around for too long, you may lock yourself out of enjoying these incentives.
Labor Costs Go Up
While the cost of hardware may have gone down over the last few years, the same cannot be said for solar electric installation labor costs. Labor costs today are more likely to be cheaper than what you may have to pay next year. Solar electric system installation companies also factor in the cost of living and other such factors, which puts labor charges on the upward trend.
When should you plan for a solar electric installation and save money? Now. For the reasons pointed out, it may not be as cost-effective to keep waiting. To learn more about solar panels, contact a supplier near you.