Solar prices are at an all-time low in Folsom, Ca. They have decreased more than 50% in just the last 5 years, according to the Lawrence Berkeley National Laboratory. For those that want to go solar, this is great news. Residents have been waiting for the opportune time. Solar prices are predicted to keep dropping, although the percentage will likely slow in coming years.
The price decreases of solar energy systems in Folsom, Ca were anywhere on a scale of small to significant. In 2015, residential system costs dropped 5 percent since the previous year, and large commercial utility-scale systems dropped by 12 percent. Systems of sizes in between these ends of the spectrum saw a drop of about 7 to 9 percent. This is the sixth consecutive year of significant price reductions for distributed PV systems in the United States.
The price decrease does not come from the most costly equipment of a solar energy system as one would assume, the solar panels themselves (photovoltaic modules), as these prices have remained pretty steady since 2012. The main cause of the price drop is attributed to costs of solar energy systems as a whole. Reasons include decreased marketing and customer acquisition costs, a more efficient regulatory environment, and lower installation labor. All of these factors add up to increasingly more savings for new solar customers in Folsom, Ca.
Although prices will continue to drop, they are predicted conservatively to decrease by 3% to 5% each year in the near future. This means that these price savings would be nothing compared to the savings on energy bills between then and now. Waiting to switch to solar will only delay significant energy bill savings, especially with the continuously rising rates from utility companies such as PG&E and SMUD. If you are wondering whether switching to solar would make sense for you and your family, be sure to contact Energy Savings California for a free quote today! (916)947-7990