Understanding Opportunity Cost in Solar Project Installation during Fall and Winter

Understanding Opportunity Cost in Solar Project Installation during Fall and Winter

Solar panel installations are best done in the fall and winter. After speaking with a solar contractor, you might have to wait a few months for your panels to be installed. You might be itching to get your solar panels installed right away to save money if you’re starting to worry about the summer months when utility bills tend to rise. 

Your solar panels will be ready to supply electricity during the summer’s peak solar production if you install them in the winter when the sun sets later and the days are shorter.

What is an Opportunity Cost?

An opportunity cost is a means to put into perspective what you lose out on if you decide against installing solar panels, in this case, an alternative energy source. You can miss out on discounts and incentives if you put off installing solar until the summer. Solar incentive programs are frequently changed or eliminated to make them less profitable. 

There has never been a better moment to install solar to lock in rates and fully benefit from incentives like net metering or federal and state tax breaks. 

Additionally, the sooner you switch to solar energy, the sooner your investment will pay off.

Solar panel break-even usually takes 9 to 12 years. They will extend this schedule if you postpone solar installation until the winter. 

Installing solar is an excellent idea at any time. However, if you choose to install solar in the winter, you will be ready to take advantage of all your solar panels offered the following summer. 

However, we do not advise asking about solar early in the year and delaying installation until the following winter. You may start saving money as soon as the panels are installed on your roof. Winter installs can be quicker, less expensive, and quickly get you set up for solar savings.