Some people believe that the cost of installing solar panels will decrease in the next few years, if so, by how much?
This is not a new question, everywhere I go, people ask me if they should buy solar panels now or wait until the prices goes down? They always make the assumption that prices are going down. No one really knows how the market will affect the price of going solar, it may go up or down, it's anyone guess at the moment.
However, there are some things we do know will happen. The rebates and incentives being offered by some energy companies are running low and once they run out of funds, it will be gone. We know the Federal Tax Credit will be dropping after 2019 and eventually end in 2021. Energy cost are on the raise. These are the only 3 facts we know today.
With the current Federal Tax Credit and rebates from your energy companies, going solar has never been lower. You are saving almost 50% off your solar panels in some areas. How much lower can installing solar panels get? I don't see prices dropping anytime soon, and if they were drop, it most likely will be due to the decrease in the Federal Tax Credit, therefore, your total cost will likely be the same as it is right now.
I tell my friends, not going solar now is like renting. Why pay rent for a house or an apartment when you can own for the same price. The longer you are waiting to go solar, you're just throwing your money away. If you decide in 5 years to go solar because the raise of energy prices, that's 5 years of payments that could have gone through your panels. Most homeowners break even after 9 years of going solar, meaning after year 9, all the energy your panels produce are essentially free. So why wait?