This article describes how the District’s SREC program works, explores current prices for SRECs, and discusses the future of the SREC program so that you can make a well-informed decision about going solar.
Of all the incentives for installing solar panel systems, solar renewable energy certificates (SRECs) are some of the most beneficial, yet most complicated to understand. However, SRECs can provide sizable income to owners of solar power systems that live in eligible markets.
With the cost of solar panels dropping every year, there’s never been a better time to go solar. A solar panel installation ranges in cost depending on a number of factors, including your state, equipment brand, and your personal energy use. That all brings us to a key question: how much do solar panels cost? In this article, we’ll break down the cost of solar by system size, state, and panel brand, all of which can significantly impact your final cost of solar panels.
Every solar company has a variation of the same sales pitch, “did you know going solar can save thousands of dollars?” They make it sound so easy, but the truth is, whether solar is a smart long-term investment for you depends on a few major factors. So before you buy into the hype, we recommend you use this simple guide to cut through the sales jargon and determine if solar panels are actually worth the money.
It is becoming increasingly popular for utilities to offer time-of-use (TOU) plans to their residential customers. In a standard electricity plan, you pay the same rate for your electricity regardless of the time of day. TOU plans are different: the cost of electricity in a TOU plan depends on the time the energy is drawn from the grid.
Have you heard that solar panels only make sense in sunny states? Well, don’t believe it for a second – while it’s true that solar panels typically produce more electricity in sunnier areas of the country, how much you can save from installing solar panels rests heavily on one major factor: the costs you avoid paying your utility company for electricity.
People all over the country–even those that live in cloudy areas–can reap solar savings. Generally speaking, the higher your electricity rates, the more money you can save by switching to solar.
The financial benefits of going solar are now well documented. Solar panel systems actually function as investments with strong rates of return, and homeowners generating solar electricity can avoid paying increased utility rates by eliminating their electricity bills. According to a 2015 report by the Lawrence Berkeley National Laboratory, installing solar panels on your home can even increase your property values. If you’re reviewing multiple quotes, there are plenty of metrics that can help you make a decision about which solar option is best for you, but studies show most solar shoppers rely on one metric in particular: the solar panel payback period or break-even point.
For those asking themselves “should I go solar”, the cost of solar installation continues to fall. According to the Solar Energy Industries Association (SEIA), installing a residential solar energy system costs 70% less than it did in 2010, which is great news for today’s solar shoppers. But the ever-decreasing costs of solar create a conundrum: should I go solar now or wait? For many, daily headlines that declare lower and lower prices can stir them to action. For others though, these same headlines can cause them to wait a few more years in hopes of saving even more money. So who’s right?
Solar panel technology has been around in some form for a long time – Bell Labs invented the first useful solar cell more than 60 years ago, and scientists have known for centuries that the sun can be used to produce energy. However, it’s only in the last ten years or so that solar photovoltaics (PV) has really taken off as a renewable energy source. There are two major factors influencing the technology’s growth: the steady improvement of both solar panel cost and solar panel efficiency over time.
For many homeowners who want to install solar panels on their roofs, a 9-kilowatt (kW) solar energy system is a good size for significantly reducing or eliminating electricity costs. Getting the right price for your solar installation and maximizing long-term savings is easy when you compare your solar quotes with the prices that other shoppers in your area are seeing. Find out more about how much a 9 kW solar panel system costs; the amount of electricity you can expect your 9 kW system to produce daily, monthly, and annually; and the smartest way to shop for solar in EnergySage’s 9 kW solar panel system guide.