Solar panels have officially entered the mainstream. WIth soaring utility prices, advancing technology, and state and local governments across the nation mandating solar panels on new homes, the time to invest in solar panels is right now.
Read on the learn the recent advancements in solar technology and why solar panels are just getting started. We’ll also outline the ways solar panels will add value to your home and save you money, both today and in the future.
A short history of solar panels
While the sun has been around for billions of years, solar panels are a somewhat recent development.
- 1953 – David Chapin, the godfather of modern solar energy, invented the first device to convert sunlight into electrical power
- 1956 – First solar cells are sold commercially for $300 for a 1 watt cell. At this cost, a modern solar system would cost 4 million dollars!
- 1970s – Production costs decrease significantly, bringing the cost of a 1 watt solar cell down to $20
- 1980s – Wide use of solar panels begins, including on some homes, traffic lights, and industrial settings
- 1999 – Inter Faith Electric & Solar begins installing solar panels in Southern California homes. Saving homeowners millions of dollars.
- 2000s – Residential solar panels become more and more realistic for homeowners, with Southern California homes in particular utilizing the emerging technology as the price of solar panels continues to plummet.
2018 – California passes law requiring solar panels on all new home construction projects
Now that we’ve gone over the history of solar panels, let’s review why there has never been a better time to invest in solar panels for your home.
Energy prices are only going up
As time goes on and resources become more scarce, electricity prices are expected to rise. With solar energy, you don’t have to worry about the sun running out and causing a price increase. While you have to pay for the solar panels themselves, sunlight will never cost money.
Once you buy solar panels, all of your energy will be virtually free!
Compare this with power companies who rely on grid energy, the price of which is expected to rise in the near future. This is particularly true in Southern California, where energy prices are expected to rise almost 80% in the coming years.
Additionally, starting in 2019, California residents will be charged for their energy use based on the time of day their energy is actually consumed. Since most homeowners use electricity during the daylight hours when the sun is shining it’s brightest and the cost will be highest, you’ll avoid paying the increased day energy prices with solar panels and a solar battery system.
You no longer have to lease solar panels to afford them
While you used to have to lease solar panels to make them affordable, you can now buy solar panels with reasonable and fair financing options from top solar panel providers.
When it comes to installing solar panels, there is only one option: buying solar panels over leasing them.
When you lease your solar panels, you end up paying for the leasing companies financial gain. Why pay all of this money just for another electricity provider to take your money?
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Cost of living is going up
Energy prices aren’t the only thing going up! The price of housing, groceries, and other major expenses are also steadily rising. This is particularly true here in Southern California, where many have had to move from the area due to the cost of living going up. Cutting costs wherever you can is more important than ever.
With solar panels, you can reduce your energy bill as much as 66%.
It’s now becoming law
Now that solar panels are so efficient, governments around the world are realizing the financial and environmental benefits of solar energy.
Starting in 2020, all homes built in California will be mandated to include solar panels when the house is in constructed. This will:
- Lead to lower costs for homeowners
- Reduce the state’s reliance on fossil fuels
- Increase the value of homes in the state
They are now a standard appliance
While old homes don’t need to be outfitted with solar panels quite yet, don’t let your home fall even more behind new homes. Much like other modern appliances, the standardization of solar panels will make any home without solar panels on the real estate market difficult to sell.
Since any home with solar panels allows for drastically lower energy costs, homeowners are willing to pay top dollar for home with solar panels. Don’t let your home fall behind the rest of the real estate market!
There are strong economic incentives
The state of California and the federal government make it as easy as possible for you to install solar panels, offering a number of tax credits and rebates to encourage investment in solar panels.
- Federal Investment Tax Credit: Allows you to claim 30% of system cost as a tax credit
- New Solar Homes Partnership: Can allow for a 50% rebate on new systems
- Local incentives: Cities from Los Angeles to Glendale offer local credits that can save significant amounts on your costs
With these financial incentives, it’s never been easier to get started on your solar project. Remember though, the only way to fully take advantage of these incentives is to buy and not lease your solar panels!
Add value you to your home and save money with solar panels
Take back the power with Inter Faith Solar and Electric! Contact us online or give us a call at (661) 245-3224 to learn more about solar panels and how they can save you money today.
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