While it can be costly to start off, the benefits of installing a solar panel system in a home or business are long-lasting. The home or business owner could see significant savings on electricity bills in the long run.
Riley Adams, a licensed accountant and voice behind a financial independence blog, provided some advice on when to go solar. Adams discusses the federal tax credit and predictions that the figures may go down in the coming years.
“Solar energy can make a lot of sense if the costs can be reduced by incentives and the energy produced offsets costly utility rates. However, as the solar investment tax credit is set to sunset, the cost proposition will change unless solar installers can continue cutting system costs. Interested residential customers should act fast to take advantage while it lasts,” Adams said.
Taylor Mabrey is a freelance journalist covering issues related to energy, the environment, and politics. Her work has appeared on various news sites. Taylor earned a bachelor’s degree in photojournalism from the University of North Carolina at Chapel Hill.