Solar Savings FAQ
I met with solar companies in the past and they couldn’t save me money. Can solar panels save me money?
The residential solar industry is always changing. For example, loan interest rates before COVID were always 3.99% and above. When COVID came in 2020, solar loan interest rates dropped to 0.49%! As time goes on, the materials used in solar systems continue to drop in price, which translates to lower prices for homeowners.
Government and utility incentives for going solar are always changing. For example, the Federal Government’s solar tax credit was supposed to drop to 22% in 2022 and then disappear in 2023. However, the tax credit was increased to 30% and extended to 2034 through the Inflation Reduction Act of 2022.
Pricing will vary between solar companies, and this depends on many factors. Phoenix Solar Panel Systems is known for their affordable pricing and it is likely they can beat the last quote you received from a competitor.