Report: Solar Power now the ‘cheapest electricity in history’

Solar power is now “the cheapest electricity in history,” according to a recently-released International Energy Agency (IEA) report. Sunshine is, and always has been, free–but harnessing it to power your home hasn’t always been cost-efficient. That’s no longer the case.

Breaking down the reasons for solar’s surging affordability, especially for San Diego residents.  Thanks to both major improvements in solar technology in recent years, as well as to state and federal efforts to combat climate change, renewable energy is more affordable than ever. On top of that, solar installers are now facing high competition from rising consumer demand, meaning even lower prices for consumers.

At the end of the day, home and business-owners are seeing faster payback and greater savings from solar than ever before. Solar typically pays for itself in just 5 to 8 years, before providing free electricity for the remainder of the system’s 25+ year lifespan.

Understanding the Solar Return on Investment (ROI)

There are a few key factors that influence the financial benefits of solar, including:

  • Electricity rates: Electricity costs more in some parts of the country than in others. The higher your electricity rate, and the more you pay for electricity each month, the more you can save with solar.
  • Financial incentives: At the moment, there are significant incentives for San Diego residents to go solar, including the federal solar tax credit. Higher incentives mean lower upfront costs and a shorter payback period for solar. The ITC (Investment Tax Credit) is now 26% through 2022, which, depending on your circumstances, could mean that much more savings.
  • Price: While prices for solar vary across the country, the best way to ensure you’re paying a fair price for the right system is to compare multiple solar quotes. Lower costs mean a shorter payback period. The average cost of a fully installed 365 Watt panel is $1095 with Zero Down Solar.
  • Property value increase: Zillow recently estimated that homes with OWNED solar panels sell for 4.1% more. Solar panel system ownership tends to increase your property resale value.

Solar payback period = solar panel ROI

Zero Down Solar is a leading solar energy system installation company serving San Diego, El Cajon, Chula Vista & Escondido, CA and surrounding communities. With nearly a decade of solar design and installation experience under our belts, we can help you harness the power of the sun and save big with solar.

For an accurate quote and to receive a $500 discount on your installation, please fill out the quote form here: https://zerodownsolar.energy/how-much-do-solar-panels-cost/

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