Join the Energy Revolution with Solar on Long Island
America’s energy revolution is well underway. Renewable energy generation has grown dramatically in recent years, and the prevalence of solar power continues to increase. The latest statistics show that solar is expanding at a rate higher than anticipated. You could join this revolution by installing solar on Long Island. Catch up on the latest news surrounding the solar energy industry and discover the benefits of installing residential solar power on Long Island.
U.S. Solar Capacity Growing at a Massive Rate
Solar capacity in America has been expanding year over year, which wouldn’t surprise most people. However, the rate of expansion is surprising, especially when comparing growth through the years.
A Forbes report this week had some positive insights. The solar industry is on track to add 32 gigawatts of capacity this year. That will be a 53% increase compared to 2022. Lower prices, fewer supply constraints, and federal incentives are all helping to drive the change.
In 2022, the Inflation Reduction Act was passed by Congress. This included funding for residential and commercial solar incentives. It also provided significant tax breaks for manufacturers that develop solar panel facilities in America.
The federal solar tax incentives are significant, even at the homeowner level. Under the current rules, you could install a residential solar system and qualify for a 30% tax credit based on the total bill. Manufacturers also qualify for credits and abatements, which is why there have been several high-profile announcements for new solar panel factories in places like Arizona, New Mexico, Texas, and Georgia.
Improving the supply chain has been a big part of the increased capacity in America. The COVID-19 pandemic caused huge supply chain disruptions while also exposing America’s vulnerability to tariffs and currency fluctuations. With a stronger domestic manufacturing industry, homeowners, businesses, and grid-scale utilities in America will have better access to solar equipment with fairer pricing.
With all things considered, industry insiders expect that 50% of new generation capacity added in 2023 will be from solar sources. This is great news for sustainability and for everyone who works in the solar industry.
You Should Consider Solar on Long Island
Market conditions for solar are favorable today. There are also inherent benefits that make home solar a good idea.
With solar on Long Island, you can enjoy benefits including…
- Increased home value and curbside appeal.
- Smaller utility bills with long-term savings.
- Easy no money down financing for solar power on Long Island.
- More energy independence, especially when adding a solar battery backup system.
A Long Island solar installation can pay for itself over time with the savings that are generated. Most systems have a pay-through period within the first ten years of ownership. Solar panels last up to 30 years, so the return on investment is long-lasting.
A Cost/Benefit Analysis for Solar from Long Island Power Solutions
Your free home solar estimate is available from Long Island Power Solutions. We’ll also provide you with a cost/benefit analysis so you can see how the savings compare to the cost of installation.
Our team makes it easy to get solar on Long Island. We’ll guide you through the process, and take care of all details including permits, and we provide 25 years of warranty coverage for solar panels. Make the switch and start saving with solar on your rooftop. We’re ready to start your consultation today.