At the beginning of the year, the U.S. imposed a number of tariffs, including on imported solar panels and solar cells. This tariff was set at 30%. Every indication is that the U.S. is working to lower these tariffs soon, but until then people are struggling to understand the impact. Understandably so, home owners have enjoyed lower energy bills since making the switch to solar power. Those are not going to significantly spike as the solar tariff will primarily affect manufacturers, not homeowners.
How the Solar Tariff Impacts Home Owners
The solar tariff was the result of a fixed percentage on these goods. Over the course of only four years, the solar tariff will be in place. The good news to homeowners is that it will drop by 5% every year. This means that as you ring in the new year soon, the solar tariff will lower to only 25%. As you ring in the next year, your solar tariff will lower again and you’ll only have to pay a 20% tariff.
With the steady pace of newer and less expensive technology, solar panels and cells have been similarly declining. This means that homeowners will still be able to enjoy the benefits of lower energy bills and energy credits with carriers. New studies out of the Department of Energy is placing the costs per kilowatt hour of solar falling far behind those of coal and gas.
Californians Can Benefit from Solar Incentives
Particularly in California, where programs are so favorable to homeowners using solar power, the effects will be minimal at best. There are many solar incentives that can help offset any additional costs. The tariff may add a few hundred dollars up front on the installation end, but the benefits over time will significantly overshadow the solar tariff. If you sell energy credits to your local power provider, you could actually make money off of your solar power system.
If you’re considering the switch to solar power, contact us for a free evaluation. We can help you reduce your energy bills with this clean renewable source. Call us today at Top Tier Home Energy (949) 296-2296.