Remember, when purchasing a photovoltaic solar panel system, there are numerous federal, state, local, and utility company solar rebates available. Right now, these rebates cover more than 50% of the solar system cost.
These rebates are scheduled to run out as more homeowners install photovoltaic solar panel systems. The price of solar panels is decreasing, but with the current level of solar rebates available, the cost of solar panels will take years to reach the savings from the current solar rebates.
In addition, the government has mandated that 20% of electricity be generated through renewables by 2020. As utility companies install photovoltaic solar systems, the electricity consumers will pay for the installations through higher electricity rates. So either way, homeowners will be paying for renewable energy.
