Solar technology is incredible. It converts free and clean sunshine into free and clean electricity. This means:
- Zero pollution
- Fewer costs
- Greater sustainability
And yet, we are still in the very early days of the global solar revolution. More and more people install panels every day. But this represents just a tiny trickle of what could be.
If solar energy is so cheap, awesome, and incredible, why don’t more people embrace the technology?
After asking many of our customers why they delayed their solar purchases for so long, we discovered 5 of the most common solar myths. This article deals with the first misconception – Solar Is Expensive.
Most People Don’t Understand How Affordable Solar Really Is
The primary hurdle to going solar is cost – or rather, “perceived” cost.
A landmark 2012 survey of homeowners throughout California uncovered something shocking. According to the survey, 97% of all respondents grossly overestimated the true cost of installing solar panels. In fact, some estimates placed the price $20,000 above the actual cost.
That’s pretty amazing when you think about it. Most people wrongly believe that solar is expensive.
The discrepancy is easy to understand, however. After all, 10 years ago, solar was quite expensive. You might need tens (or even hundreds) of thousands of dollars to receive a quality solar PV installation.
But in the past 5 years alone, solar panel prices have plummeted nearly 80%. In fact, costs have fallen so much that many panel manufacturers continue to lose money.
Solar has truly become a buyer’s market.
Further reducing installation costs are incentives. And in San Diego, homeowners and businesses alike enjoy a whole range of programs, rebates, and tax credits to help make going solar cheap. With the federal tax credit alone, you can claim up to 30% of the cost of your system (including parts and labor).
Bonuses like these make going solar a no-brainer.
But probably the biggest change is unprecedented access to affordable financing. With solar leases and solar loans, pretty much anyone can embrace PV technology cheaply. In fact, it’s possible to receive a brand-new solar installation 100% free of charge (covered tomorrow).
Tune in Tomorrow When We Explore San Diego Solar Myth #2
If more people were aware of the true cost of going solar, today’s trickle would become a sizable stream. But solar development wouldn’t quite reach “flood” status just yet. There are still a few challenges that continue to limit the industry’s growth.
Tune in tomorrow when we look at Myth #2.
And as always, if you’d like to request your free solar PV inspection, contact us today.