If you’ve been thinking about installing a solar energy system for your home, you might be interested to know that doing this is more affordable than ever. The costs involved in going solar have dropped since 2011, according to a September 2013 report from the U.S Solar Energy Industries Association (SEIA) and GTM Research.
Lower Solar Supply Costs. The solar option has become more affordable for many homeowners as supply costs drop. For example, the average cost for a complete system fell by 16% from 2012 to 2013. The SEIA and GTM report says prices for solar panels fell 60% over 18 months from 2011 to 2013. In fact, the energy generated by current solar-powered homes can power more than 1.7 million homes, according to an SEIA fact sheet.
Middle Class Americans are Going Solar. A recent report from the Center for American Progress says the US middle class leads the way in adopting solar technology. The fastest-growing group of solar power users earn $30,000 to $50,000 per year.
One reason for solar’s popularity among middle class Americans is the generous 30% tax credit the Federal government offers to solar adopters. In Utah, buyers can also qualify for a state credit up to $2,000. With these incentives, Energy Savers customers will enjoy payback on their solar power investment in seven to ten years, and a 10% return on their investment.*
25-Year Warranty. Each Energy Savers solar power system is backed by a 25-year warranty. Compare that with 10-year warranties on new HVAC units and the cost to run them through traditional electrical power.