Solar prices have generally declined over the years, driven by improvements in supply chains and increased efficiency in production. While there have been fluctuations, overall input costs are lower today than in the past.

This presents an ideal time for both homeowners and businesses to invest in solar on their property, but prices won’t keep dropping indefinitely. Solar technology involves fixed material and manufacturing costs, which set a price floor. Though prices have declined, waiting for further drops may cause buyers to miss out on immediate savings and current incentives such as the 30% federal Investment Tax Credit, which may phase out over time.
In addition to lower solar prices, energy storage systems have also become more affordable, making solar-plus-storage systems a smart investment. With increased energy independence, homeowners can safeguard against utility rate hikes and energy disruptions, especially in areas prone to severe weather. Since solar systems typically last over 25 years (and possibly much longer), the long-term financial returns from reduced electricity bills and energy stability make solar even more attractive.
Choosing to install solar now locks in today’s prices, helping homeowners start saving immediately. Solar power allows you to reduce or even eliminate reliance on traditional utilities that often rely on costly fossil fuels. While it may be tempting to take a gamble on further price reductions, delaying could lead to losing out on today’s financial incentives and the immediate benefits of energy savings. Solar is a long-term investment that not only reduces energy costs immediately but also offers environmental and economic advantages that far outweigh the small possibility of future price declines.
With today’s affordable solar technology and incentives, waiting to make the switch could mean paying more in the long run, whether through rising utility costs or missed opportunities to maximize savings. The combination of record-low solar and storage costs, combined with available tax credits, make now the perfect time to invest in a future of clean, renewable energy for your property.
For more info, download our 8 Ways to Save by Going Solar Now Infographic.