Now is the Optimal Time to Invest in Solar: Exploring the Declining Costs and Increasing Efficiency of Solar Technology

February 17th, 2025

As homeowners across the country continue to seek out ways to reduce their carbon footprint and lower their energy bills, the case for transitioning to solar power has never been stronger. In recent years, the solar industry has experienced a remarkable transformation, with significant advancements in technology and a steady decline in the overall cost of solar installations.

At Bracket, we believe that now is the optimal time for homeowners to take advantage of these favorable market conditions and invest in a solar energy system for their homes. In this blog post, we'll explore the historical trends in solar panel pricing and efficiency, making a compelling case for why the present moment is the right time to go solar.

The Steady Decline in Solar Panel Costs

Over the past decade, the cost of solar panels has dropped dramatically, making solar energy a more accessible and viable option for homeowners. In 2010, the average cost of a solar photovoltaic (PV) system was around $7.50 per watt. Fast forward to 2022, and that cost has plummeted to approximately $2.50 per watt, representing a staggering 67% reduction.

This significant decrease in solar panel prices can be attributed to several factors, including advancements in manufacturing techniques, economies of scale, and increased competition within the industry. As more solar companies enter the market and production volumes continue to rise, the cost of these systems has become increasingly affordable for the average homeowner.

Improving Solar Panel Efficiency

In addition to the declining costs, solar panel technology has also experienced remarkable improvements in efficiency over the years. In the early 2000s, the average solar panel efficiency hovered around 12-15%. Today, high-efficiency panels can achieve efficiency levels of 20-22% or more, meaning they can convert a greater percentage of the sun's energy into usable electricity.

This increase in efficiency translates to several benefits for homeowners. First, it allows for the installation of fewer panels to meet your energy needs, reducing the overall footprint on your roof. Second, more efficient panels generate more electricity per square foot, maximizing the return on your solar investment. Finally, as panel efficiency continues to improve, the performance and reliability of solar energy systems will only continue to increase.

The Perfect Storm for Solar Adoption

When you combine the declining costs and increasing efficiency of solar technology, it becomes clear that now is the ideal time for homeowners to make the switch to renewable energy. With lower upfront costs, higher energy output, and a range of financial incentives and rebates available, the barriers to solar adoption have been significantly reduced.

At Bracket, we've witnessed firsthand the transformative impact that solar energy can have on homeowners' energy bills, environmental footprint, and overall quality of life. Our team of solar experts is dedicated to helping you navigate this exciting transition, ensuring that you capitalize on the current market conditions and unlock the full benefits of solar power for your home.

Don't miss out on this opportune moment to invest in a sustainable energy future. Contact Bracket today, and let us guide you through the process of going solar and securing your family's long-term energy independence.