The falling costs of photovoltaics, additional federal, state and local tax exemptions; and the increasing number of financing and leasing options, are all reasons why the future of the solar energy industry is looking more promising. Check out these prime examples that showcase these trends:
- The Capital’s Solar Exemption – An amendment act procured in 2012 states that residents of Washington D.C. are allowed to exempt their solar energy solutions from their personal property tax. This not only cuts the cost of solar installation and ownership, but inspires growth of solar construction across the country’s capital.
- Solar in Centreville, MD – A small town of about 4,500 located an hour east of Baltimore has agreed with a Maryland solar energy firm to begin construction of a solar farm. The solar farm is said to begin construction in August, and should yield almost $2 million worth of savings in the first two years.
- Finance Your Future – A recent report by GTM Research reveals that the solar financing market may reach $5.7 billion by the year 2016, in a 2013-2016 industry forecast. The explosion of residential and commercial thirty-party ownership (TPO) vendors in the past 2-3 years has helped the solar energy industry grow and has given many American’s a chance to save on utilities and invest well into their foreseeable futures.
- Sun’s Rising, Costs Falling – Between the increasing finance and lease options, improving government incentives, and overall ROI, many can see why solar is an attractive opportunity in our current economy. Renewable Energy Corporation’s Ryan McNeill breaks down why photovoltaic costs are falling, and why now may be an opportune time to make the solar switch.
It’s always great to hear about success, especially when it affects us. With the sudden spur of solar growth, and continuing efforts to become more environmentally conscious, solar just makes sense. If you actively follow the progression of the renewable energy industry, it’s easy to see an upward trend in awareness, growth and ROI.