The residential solar panel market in the US reached an all-new, exciting height in the second quarter of 2015 by attaining a whopping 1,393 megawatts (MW) of installed solar capacity. This green industry has reportedly helped meet nearly 40 percent of the nation’s total electricity generation capacity in the first half of the past year. Several booming markets across the country played their parts to make this happen. In the context of residential solar panels, Tampa along with its other southern neighbors played an important role. These cities took advantage of Federal tax credit to offer their products at a reasonable price to consumers. In addition, these solar companies leveraged new technologies and innovative marketingstrategies to attract more homeowners. Being a city blessed with natural sunlight throughout the year, solar power is expected to grow even more in Tampa in the upcoming years. If you are interested to ride the solar wave, but are not sure whether Photovoltaic (PV) panels will make worthwhile investment for your Tampa home or not, here are three key trends of the industry that will strengthen your resolve for going solar this year:
More Options for Solar Shoppers
Hundreds of solar panel brands are vying for attention in the market all over the US. This makes it more difficult than ever for consumers to select the right unit for their homes. An innumerablearray of inverter brands add to the confusion. Thanks to an overwhelming choice coupled with an information overload, homeowners often end up in the traps of unscrupulous salespersons. Fret not, as this is only one side of the coin – the better part of the story is the fact that numbers breed competition. And the more the competition, the lower is the price, which is good for the consumers. Solar buyers can take more informed decision by reading customer testimonials and third-party accounts in the review and social media websites. A bit of comparison shopping also comes handyin finding out the actual price of what you are looking for.
An Expanded Array of Solar Financing
Obtaining loan for buying solar panels has become as easy as cakewalk in many regions across the US, especially in the sunbathed south. On an average, the life expectancy of most solar equipment is 25 to 30 years. As such,they make sound investment for homeowners based in the cities that enjoy yearlong sunshine. People can start saving money with a solar system right from the first day after installation. With solar power proving itself as a long-lasting and high-return investment, more and more financial brands are entering this arena offering low-interest loans with zero or very little down payment.
Solar Is Meeting the Majority of Home Electricity Needs
According to the EnergySage Solar Marketplace Intel Report, solar panels helped meet 85 percent of electricity needs in 2015 for homes that installed them. The report also added that households using 7.9-kilowatt systems could save$2,000 on an average on their annual electricity bills. In a city like Tampa, this was made possible by solar equipment efficiency gains, which allows for the generation of a large amount of electricity from a smaller surface area. Many solar companies are offering equipment, which are approximately 22 percent more efficient than their previous generation units. Researchers have even built solar cells that work 40 percent more efficiently than the currently available systems. Although they are not yet market-ready, it is expected that commercially viable versions will hit the market in a few years time.
Given the rising costs of traditional electricity, more and more homeowners are searching for a viable alternative. For people planning to invest in a cost-effective technology such as the solar panels, Tampa makes an ideal destination. The city, which enjoys abundant sunshine throughout the year, has a massive market for solar. If you are living in this sun-kissed city, don’t hesitate to ride the wave.