When Should You Install Solar? For those, who are asking themselves constantly if this is the right time to install solar or should wait. According to the observations done by our experts, the solar installation cost for residential buildings is almost 13% less than the cost of five years ago. This is good news for today’s solar shoppers.
But this constant decrease in solar installation prices is creating a conundrum among people: should I go for solar now or wait for a further price drop? For most of them, these daily headlines of price dropping could stir them to action whereas. Some of them will still wait a few more years in hopes of saving more and more.
Does waiting to Install Solar make any sense?
Logically, it does not make any sense. I have a valid reason to prove my point. For example, let us consider an example that if you are spending $1,000 on your energy bills every year and you are planning to wait almost 4-5 years for the price of solar to drop then it will cost you around $4000-$5000 just for your electricity bills.
what is worse, is that amount is just burned on electricity and not invested. If you opt for solar system during those 4-5 years, you could have paid your system off or at least a big chunk of that.
What’s the point here is to think logically. If you are going to wait for 5 years just for price drops in Solar then how much it would going to cost you for electricity bills which is not providing you a ROI at all.
Rise in Energy Prices – Don’t Wait!
We are aware of the fact that energy prices are going to rise frequently till late 2024. I think Covid-19 pressures are mounting and prices going to hit a high very soon. We are just considering the upcoming 4-5 years as we are going to see a huge surge in prices.
One way to say goodbye to your energy bills is to generate your own energy instead. Don’t become shackled into contracts with energy suppliers who can increase their rates at any time throughout the contract.
Evolving Solar Costs: A Visual Analysis
According to a survey by Solar Choice, a graph has been portrayed that reflects the historic cost of solar and how it is decreasing over time. Now, if we take a further look at this graph, it is observable that the cost per watt of the solar dropped very fast at the start. Although this drops is slower a lot.
The difference between price during 2017 and 2022 is only $2,000-$3,000 (based on 370w solar panels and a 6.6kW system)
Final Verdict
To be honest, it is a stupid idea to be waiting for the solar prices to come down. Henceforth, the answer to the question is that it is a silly decision to wait for installation.
Contact team Solar Air Energy to have more info related to Solar Systems and also get free quotes from Brisbane’s top Solar Energy Company for the installation of your solar system.
