Why now may be the right time to go solar
Amidst economic uncertainty, a stock market crash, and a pandemic, it’s only natural to think: “I’ll just wait on solar until things calm down.” But solar might actually be the smart way to go right now. Here are three reasons:
Reason 1: The benefits of solar are extremely predictable
We cover the benefits in another post, but to restate they are:
- The avoided cost of energy (energy you don’t have to buy from your utility)
- The federal tax credit and Illinois Shines incentive
- The reduction in carbon emissions from cleaner energy
The good news is that none of these benefits are diminished by the current economic uncertainty.
Avoided cost of energy? You’re probably using even more energy now that you’re working from home.
Federal tax credit / Illinois Shines incentive? Written into (federal and state) law.
Reduction in carbon emissions? Climate change isn’t waiting on coronavirus.
Reason 2: There are plenty of $0 down options
During a crisis, you may not be eager to spend a lot of money. Good news: Going solar often means saving money, not spending it. And that can allow you to take advantage now of those solar incentives, like the 26% federal tax credit, before they sunset!
Certasun offers two $0 down options that seem particularly well-suited to these times:
1. Solar lease: $0 down; $0 out-of-pocket; pay less per kilowatt-hour than you do now (usually much less)
2. Solar loan: $0 down; $0 payments for 12 months (while you still get benefit of solar!); use incentives to pay down loan
By the way, it’s no surprise that you may be hesitant to take on debt right now. But, you may want to reconsider. Taking on debt usually means taking on a certain obligation in exchange for uncertain returns. But, solar returns are very predictable! The federal tax credit is written into law. The Illinois Shines incentive is written into law. And, the avoided cost of energy (energy you don’t have to buy from your utility) is pretty much a given, unless you stop using electricity (you’re probably using more of it right now, working from home).
Note: Certasun is not a lender or finance company. The solar financing options described here are provided by third parties.
Reason 3: Solar protects you against rate hikes
The worst thing in uncertain times is to add more uncertainty. Unfortunately, as you work from home more and your electricity bill goes up, so will your exposure to utility rate hikes. The good news is that by going solar, you avoid paying ComEd (or your municipal utility) for the energy that your solar system produces. Sunshine doesn’t vary too much year to year; use this to your advantage!