Will Solar Prices Increase This Year? 4 Reasons To Buy Now
When it comes to investing in a solar panel system at your Orlando home or business, one of the most important things to consider is of course the price. With so much talk about inflation and tariffs, you may be wondering whether solar prices will increase this year.
It’s a valid question, and our team at Solar Bear Orlando is here to share what we know.
#1. Tariffs & Trade Issues
Tariffs were put in place under the Biden administration to protect domestic solar manufacturing, but now, there has been an expansion of these tariffs under President Trump’s administration, which is causing the prices of imported solar panels and components to rise.
We do not know how many tariffs are going to be put in place moving into the rest of 2025, so our advice to homeowners is to buy now if they can. This will help ensure they get a good price before tariffs cause prices to skyrocket.
Read More > How Will Tariffs Impact Solar Panel Prices in 2025?
#2. Incentives and Tax Credits
The good news is that there are many solar incentives and tax credits available to consumers, which can help offset the initial costs of installation. The not-so-good news is that these programs can change—sometimes without much notice due to who is the majority in Congress.
A decrease in governmental support for renewable energy could result in changes to the Federal Solar Tax Credit, as well as a reduction in solar technology as a whole.
By purchasing a solar system now, homeowners and business owners in Central Florida can take advantage of federal incentives before they decrease or disappear altogether.
#3. Supply Chain Issues
A huge factor in the rising costs of solar panels is the global supply chain. Solar panel production is heavily reliant on raw materials such as silicon, aluminum, and copper, and disruptions in the supply chain due to global tensions, for example between the US and China, has led to an increase in manufacturing costs as well as shipping components worldwide.
Further issues in the supply chain could continue to drive up shipping costs, material prices, and the overall cost of finished solar systems.
#4. Rising Energy Costs
It’s important to note that the longer homeowners wait to invest in solar, the longer they will have to contend with rising energy costs. If they choose to install solar now, they can begin to generate their own power and take advantage of the savings that solar panels provide.
Choose Solar Bear Orlando
Don’t wait until prices start rising! NOW is the perfect time to make the switch to a renewable resource like solar power. If you have any questions or want a quote, feel free to reach out to our friendly team at Solar Bear Orlando.
We’re here to help you harness the energy from the Florida sun. Call us today at (727) 471-7442!