4 Trends That Could Impact Solar in 2016

The U.S. has enough installed solar energy capacity to power 4.6 million homes. Solar energy accounted for 32 percent of total new power generation in 2015, and in just nine years, the installed cost of solar energy has fallen by more than 73 percent. As you can see, now is the perfect time to invest in solar energy. But what exciting new developments does this year have in store for solar? Here are four trends that are likely to impact solar throughout 2016:

1. Solar Growth Will Continue:  2016 is on track to be a record year for U.S. solar, with more than 10 GW expected to be added for the first time and the number of homeowners with solar installed eclipsing the 1 million mark. And with the federal tax credit extension,10 gigawatts is not a one-time peak, with U.S. solar installations expected to reach 20 GW per year by 2020.

2. Misinformation On Solar Will Also Continue:  The solar industry continues to change and evolve so quickly that it is difficult for the average consumer to stay on top of all the most current rate information and incentive programs. A lack of understanding makes transparency by the solar installers and unbiased third-party sources especially important for solar shoppers to make informed choices. Solar system owners can almost always save a lot on utility bills. Still, it’s always best to contact a reputable solar installer for the most current information in your area.

3. Additional Financing Options Will Emerge:  Now that solar has proven itself as a safe, low-risk, high-return investment, it’s getting even easier to obtain financing for solar by adding solar to your home. Low-interest loans with as little as no money down are available to solar shoppers, reducing the hurdles to solar ownership. It also makes solar ownership a more appealing and financially advantageous alternative to solar leases.

4. The Solar Market Will Remain Balanced:  The photovoltaic manufacturing market is expected to remain balanced with a slight undersupply. Therefore, solar may also be a great investment option. As the market expands beyond the early adopters, as prices fall and emerging markets in Asia begin to adopt solar energy, shares in solar companies will bring a great return on investment.

If you're interested in learning more, you can download our exclusive solar guide to help you understand some of the most important considerations when switching to solar energy in 2016. We invite you to download the guide, and if you're interested, request a free custom solar quote from one of our solar experts today.