If you haven’t installed solar yet, the best time to make the upgrade is now. The local solar experts at RevoluSun, share why demand for materials, current incentives and a “chip” shortage mean acting quickly to install solar should be a top priority.
Demand for Materials
Lithium and cobalt are rare materials that are in high demand for items like batteries and electric vehicles. These same materials are used in residential solar battery systems and the price is on the rise. That means prices for solar storage will rise significantly in the future.
There’s a lot of misinformation regarding financial incentives and solar installation. RevoluSun sets it straight. The 26% federal solar tax credit is available for residential solar systems installed by December 31, 2022. In 2023, the tax credit will step down to 22%. In 2024, the tax credit for residential solar ends. Act today for big tax incentives!
In addition to the federal ITC there are also state tax credits, financial assistance programs and tax exemptions that you may be able to take advantage of.
The “Chip” Shortage
2020 and 2021 have both revealed shortages in our supply chain. Microchips and semiconductors, which show up in just about everything you use in day-to-day life including gaming consoles, smartphones, air conditioning units, electric vehicles, and solar products , are subject to spiking demand and production delays. These shortages will affect pricing as we head into the second half of the year. Acting slowly means paying more for your system.
RevoluSun has never had a client say that they should have waited to install solar; instead, they all say they should have installed sooner. Considering all of these factors, don’t wait to call a reliable, local expert to get your solar project started today—contact RevoluSun at (808) 748-8888 today to get started.