Why are Solar Stock Prices Climbing? Will it Affect Long Island Solar Power?
Solar stock prices have been fluctuating in recent weeks. There was a noticeable dip with many investors fearing that foreign competition would lower the value of U.S. solar companies. However, solar stocks heavily rebounded this week, thanks to optimism in the market. Solar stocks won’t directly affect families thinking about getting Long Island solar power. However, it’s still worth keeping up with the news to see what’s driving the industry.
Here’s what you need to know about the recently publicized volatility in solar stocks.
Strong Supply and Interest Rates
Strong international supply and U.S interest rates have been two driving factors in solar stock prices.
- Supply in the solar panel and equipment market has been exceptionally strong over the last year. There are vast supplies of foreign panels and equipment available, at competitive prices. This is one of the reasons why a Long Island solar installation is so affordable. There is also an increasing supply of affordable domestic panels as manufacturers ramp up their U.S. facilities.
- Interest rates have been higher than usual, due to the Federal Reserve increasing its target interest rate in recent months. These rates influence solar panel financing rates. Although the changes have been minor when looking at actual figures, investors almost always respond negatively to interest rate hikes. It now seems that the Federal Reserve is more confident in the wider economy and there are no predicted interest rate hikes soon. This will stabilize the lending market and ensure that you can get affordable access to financing.
- Investors were also concerned about lower-than-expected earnings results from publicly traded solar companies. While earnings were still strong across the board, stock markets are inherently speculative and stock prices are based on their expectations. Even though the solar industry is doing well, investors wanted bigger earnings, which led to a pullback in some stocks recently.
Overall, the investment market paints a very different picture of the solar industry than what is happening on the ground. The solar industry is stronger than ever, and solar is more accessible to the average American. Affordable panels aren’t good news for investors, but they’re great news for your family. There has never been a better time to get Long Island solar power.
Easy Financing for Long Island Solar Power
Interest rates are a little higher than they were a year ago, but Long Island solar power financing is still affordable. You can apply your expected State and Federal solar tax credits for an interest-free period on your financing with no money down. You’ll pay the first loan in full when you receive your tax credits, and then move to long-term financing over a period that you can choose. We’ll help you to get a financing package with affordable repayments and the best long-term value.
You can finance your system and still make a profit from solar. Most Long Island solar installations pay for themselves in the form of lower bills. The savings often balance out with the cost of installation within the first ten years. After this, all those savings go into your pocket.
Get an Estimate for Solar Power on Long Island
Long Island Power Solutions is ready to prepare your free solar estimate. We also provide cost/benefit breakdown reports for solar power on Long Island, so you’ll see all detailed financials before you commit to anything.
We provide detailed information because we want families to save with solar. Solar panels last an average of 25 to 30 years. An investment in solar will mean smaller electric bills for decades to come. Find out if Long Island solar power is right for you. Get your free online solar estimate from Long Island Power Solutions today.