US solar industry is expected to rebound with lowe
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Posted On: 11/23/2024 9:51:35 AM
US solar industry is expected to rebound with lower interest rates:
Lower interest rates make solar more affordable
Lower interest rates can make solar more affordable for consumers, especially for homeowners who finance their systems with loans. For example, a 50 basis point interest rate cut could reduce the cost of a $30,000 system by about $3,000 over 20 years.
Lower interest rates boost renewable energy projects
Lower interest rates can make renewable energy projects more viable, especially large-scale projects that were slowed or stranded by high interest rates.
Positive outlook for the solar market
The EIA forecasts significant growth in solar power generation, with some analysts predicting double-digit growth in the US market in 2025.
Other factors contributing to the rebound
Other factors contributing to the rebound include stable utility pricing, increased capacity eligible for domestic content tax credits, and the development of smart grids and virtual power plants.
icymi
Lower interest rates make solar more affordable
Lower interest rates can make solar more affordable for consumers, especially for homeowners who finance their systems with loans. For example, a 50 basis point interest rate cut could reduce the cost of a $30,000 system by about $3,000 over 20 years.
Lower interest rates boost renewable energy projects
Lower interest rates can make renewable energy projects more viable, especially large-scale projects that were slowed or stranded by high interest rates.
Positive outlook for the solar market
The EIA forecasts significant growth in solar power generation, with some analysts predicting double-digit growth in the US market in 2025.
Other factors contributing to the rebound
Other factors contributing to the rebound include stable utility pricing, increased capacity eligible for domestic content tax credits, and the development of smart grids and virtual power plants.
icymi
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