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The time has never been better to invest in home solar power. A fortunate mix of falling prices and high incentives have created a win-win situation for a good many American homes.
With the feds picking up 30 percent of the tab, and many states adding another 20 percent or more, there’s a good chance a family can get at least half of their home solar power system rebated. But solar rebates and incentives have been in place for years now; even the federal government’s removal of the $2,000 cap on residential solar systems is more than a year old. What makes now such a great time to go solar? It’s the recent and rapid fall of solar equipment costs. Solar prices are expected to fall by half before the end of 2009.
What we’re seeing is a perfect storm of sorts. Prices have fallen dramatically, but the rebates put into place when prices were higher are remaining constant. Home solar power is growing more accessible to a larger swath of people. At the same time, lower prices help lenders rest easier about doling out solar financing to homeowners without the upfront cash. An already sweet deal is currently at its sweetest for all involved.
