Larger investments into clean energy are being put into place throughout the United States to combat climate change. President Biden signed into new legislation a 30% federal tax credit to incentivize American homeowners to make the switch to solar. Even though solar energy currently makes up just a fraction of the country’s overall electricity usage, the industry has continued to grow significantly despite Covid, supply chain issues, and import restrictions. According to ,Pew Research Center, “residential solar power installations rose by 34% from 2.9 gigawatts in 2020 to 3.9 gigawatts in 2021.” In January of this year, Pew Research conducted a survey across the US which found that about 8% of homeowners have already installed solar panels. An additional 39% said they were seriously considering it or on their way to installing a system within the year. It’s important to note that this survey was conducted before the 30% federal tax credit became law in August of this year. This survey showed that solar panel usage was up from 6% in 2019 and just 4% in 2016. Additionally, the ,Solar Energy Industries Association reported that “in the second quarter of 2022, residential solar set its fifth consecutive quarterly growth record.” The desire for cleaner energy is growing, and the industry is only getting better.
From the Pew Research survey in January, the Western states overall were more interested in solar energy systems than the Eastern portion of our country. The Pacific West held the top interest followed by the Mountain West, which is where Utah is included. About half the survey participants in these two regions were seriously interested in switching to solar. Their survey correlates with the data from the ,U.S. Energy Information Administration (EIA), which is the government agency that collects information about the energy industry in the United States and thoroughly analyzes it. California is still the leader in solar electricity generation from residential power, with Arizona and Texas next in line.
Most homeowners, about 92%, cite that saving money on monthly utility bills is the main reason they have adopted or would adopt solar energy. About 81% stated that helping the environment was a top motivating factor for making the switch, and about 59% mentioned they did so or plan to do so mainly for health reasons. Tax incentives was another reason homeowners jumped on the bandwagon. All these reasons are wonderful reasons to opt for solar.
It’s true that solar panel installations are a significant upfront cost, even with the incentives and tax credits. The type of panels, how many you need, and installation conditions such as roof pitch will all impact the overall price. However, over time, the savings are apparent and the investment pays off. If you’re questioning whether solar is right for you, it’s important to talk to a knowledgeable expert that won’t pressure you into a decision. There are many benefits to switching to solar, but you want to ensure you’re choosing a reputable and honest company. Four Seasons Solar is Utah’s expert in making our state a little greener.