Forget the gym membership and the book club, going solar in January 2020 will be the best New Year's resolution you can make. Although this may be the time of year in which your electricity bill is the lowest, it is truly the best time to look into solar panels for your home. This is largely in part due to lower demand, a quicker installation timeline, and the production of electricity right when you need it most.
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Lower Demand and Guaranteed 2020 Federal Tax Credit
During the end of 2019, solar companies were flooded with requests for residential solar panel installations due to the expiring 30% Federal Tax Credit. Unfortunately, this meant that many homeowners could not have their systems installed in time to claim their 30% discount on the total cost of going solar. Those who waited too long were forced to settle for the 26% credit that is available through all of 2020. On January 1st, 2021, the tax credit will be reduced to 22%. If you were to sign for solar in January, this will certainly secure your spot for the 2020 tax credit towards your solar panel system.
Lower Installation Timeline
In a similar vein, many homeowners begin looking into solar as a reaction to high electricity bills during the summer months. This causes a backlog of installation timelines in the late summer and fall months. Take for instance this yelp reviewer, who waited over a year to get an installation from a large, well-known solar company. By choosing a local company in the Winter, Colorado homeowners can expect the shortest possible timeline for getting solar panels installed and producing electricity.
Electricity Production Right on Time
By going solar in January, homeowners can expect to have their system up and running by the time they need to turn on the air conditioning. Not only do solar panels work more efficiently in the winter, but late Spring is typically the time of the year in which people begin producing more electricity than they are using at home! Thanks to net metering, excess production is sold back to the electric utility. So, do not wait until you get that $300 electricity bill in the mail. Go solar in January, so you can reduce your electric bills and run the air conditioning guilt free all summer long.