Whether you’re a homeowner or a business, contemplating solar energy systems in Minnesota, we are here to tell you that 2023 is your year! Read on to discover the top reasons why you should be going solar in 2023!
Three words: Inflation – Reduction – Act
In case we haven’t said it enough… the Inflation Reduction Act is a gamechanger. Ramping up the federal tax credit to 30%, the IRA means US businesses can now claim back between 30 and 60% of the total cost of a solar energy installation. That’s $30,000 to $60,000 for every $100,000 spent on a commercial solar power installation! For homeowners, the rate is set at 30%. And that’s before we even start on Electric Vehicle Credits. Frankly, a deal this sweet may not be around forever! Tax credits expire and laws get repealed. If you’re weighing up investing in solar, the time is now! With the most expensive part – the initial outlay – made significantly less so, you are left to enjoy the incredible return on investment (ROI) solar can offer your home or business!
The Smart Home Solar Synergy
As well as being the year to go solar, 2023 is also the year smart homes got just a little more accessible. An avalanche of new affordable technology from the likes of Samsung and Apple launching this year, means everyone can make their homes and commercial premises just a little smarter. And it’s no accident that so much new technology – from phone chargers to remote controls – has in-built solar panels. As smart technology electrifies your home, solar panels have the potential to one day fulfil all your energy needs. This growing synergy between solar and smart homes further empowers Minnesotans everywhere to simultaneously lower their carbon footprints and their energy bills.
The Grid Needs You!
If you’ve been following utility news, you may have noticed that the US power grid has been showing signs of wear and tear for some time. And factors like population explosion, growing electrification and extreme weather conditions (exacerbated by climate change) are not helping. Going solar allows you to take pressure off the grid by generating some (or all) of your own electricity. The beauty of this is that peak sunshine hours (when solar power systems are the most productive) are also generally when the grid is under the most strain. Minnesota’s national grid is holding up better than many states – and this is due, in no small part, to the fact that over 50% of our electricity comes from renewable sources. In its 2018 report, the McKnight Foundation laid out how a further dramatic move towards home-grown renewable energy will keep electricity costs down without detracting from the grid’s reliability. Going solar can even empower you to go off-grid completely!
Solar is Everywhere
It’s not just in Minnesota that solar power is taking off right! Already 2023’s fastest growing energy source, Bloomberg Intelligence predicts solar demand will see an overall increase of 20-30% this year. Meanwhile, here in the US, solar is also set to upscale considerably. According to the Energy Information Administration (EIA), over half of all our new electricity generating capacity will be solar during 2023. Solar’s rise reflects not just its incredible capacity and reliability, but also the technological advances we have seen in recent years. And the more prolific solar becomes, the more sophisticated this technology will become – making it cheaper in the process. If you install a solar power system this year, next year investment in EVs and charging stations may not only affordable, but actually the most cost-effective option. Whether you’re a homeowner or a business!
Ready for 2023 to be Your Year of Solar?
We get it – the most daunting part of going solar, for many, is that initial financial outlay. But it doesn’t have to be. Alongside the many financial rebates available for both business and residential, there are also lots of different ways to pay! From power purchase agreements to green loans. Officially one of Minnesota’s best, Cedar Creek Energy’s experienced team is here to talk you through all the options and potential savings available to you! Get in touch today for a free solar quote!