Advancements in solar not worth delaying home installation

  • Nate Lewis
  • Chief Sales Officer

Unlike phones or computers, there's no real advantage to wait for solar technology to improve. In fact, the longer you wait, the less beneficial will be the related solar programs such as excess solar generation credits from the utility and the full 30% Federal Tax Credit.

Is there any advantage to waiting on solar? Aren’t there big advances coming?

 

Based on the constant incremental improvements with computers and cell phones, some people believe they should wait on solar as well, with possible big advances coming. While there are incremental advances being made to solar panels, it’s more in the line of small increases in efficiency, not any large, wholesale change in the fundamental way they generate power. So while you wait for small changes in efficiency, you’re losing out on all the money you could be saving. And if a system can offset 100% of the energy you currently use, why not go ahead and do it?

In addition, the full 30% Federal Tax Credit expires at the end of 2019 and drops to 26%. It’s not a huge drop, but it’s real money depending on the size/cost of your system. If you purchase, you get the tax credit yourself to use, and if you lease, the company you lease from take it, but it’s reflected in lower monthly payments.

One more point – the current program that Southern California Edison has to grandfather you in for the five years based on the current Time-Of-Use program is ending in March and will be replaced by a program that’s not as favorable. So if you want to lock in the current program before it goes away, that’s another reason to explore solar now and not wait.

For batteries, those are getting incrementally better as well. If you’re interested in emergency battery back up there are good rebates available from SCE and if you do it at the same time as your solar, you can probably take the 30% Federal Tax Credit on both (although you have to buy a battery as Tesla doesn’t have a lease program like with solar). The rebate money from Southern California Edison steps down as each tier gets used, so the sooner the better on that as well!

 

 

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